MGP Overview and Strategic Focus Areas
INGREDIENT SOLUTIONS
EXPAND TEXTURED PLANT PROTEINS
U.S. product launches and plant-based claims
Region
2018
2019
2020
2021
2022
•
U.S.
291
539
637
772
817
NEW
gardein meatless meatballs
classic
BEYOND
MEAT
GET $7
Morning
Star
FARMS
Gardenburger
Yves
VEGGIE BREADED
CHICK'N BURGERS
THE
ORIGINAL
BURGERS DE POULET
VEGGIE PANES
vegetarian vigita
VEGGIE PULLED PORK
H
Hand
22
22
Texturized Protein Extrusion Plant
$16.7MM texturized protein extrusion plant slated for
completion in the fourth quarter of 2023 designed to be
capable of producing 10MM pounds of texturized protein
products per year
Achieving in-house production of ProTerra line expected to:
•
•
Reduce lead times related to co-packers scheduling issues
•
Increase flexibility related to R&D projects
Enhance our ability to effectively commercialize new products
Source: International Food Information Council (IFIC) Foundation.
MGP
•
•
•
Strategy
Expand our production capabilities with new “in-house”
extrusion platform in Atchison
Innovate new products to include pea and other plant
proteins under new brand ProTerra to improve nutrition
and function
Launch new flavored textured plant protein food
products for food service channel
Develop new ready-to-eat textured plant-based snack
inclusions for potential new channel entry
Expand into Asia and South America with new textured
plant protein blends under ProTerra platform and new
distribution
1570
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