Consumers to Increase Demand for Plant-Based Protein

Pat Bowe, president and CEO ofThe Andersons Inc., discussedconsumer trendsimpacting the U.S. ag industry at the National Grain and Feed Association's126th Annual Convention.

According to Bowe, the biggest trend in America today is sustainability.

"The three pillars of sustainability are environmental, economic and social," he said. "These three pillars are connected to the trends we're seeing and hearing about across agriculture."

For example, Bowe said preference for plant-based protein is gaining ground as a meat alternative.

"Consumers want products that help them eat what they perceive to be healthier and a diet that helps save the planet," he noted.

"More than 70% of consumers viewed protein from plant sources as healthy and of those who try it, 90% will eat it again. So what consumers are demanding is impacting our investments in food and innovation."

Bowe said the plant-based protein market is expected to reach more than $75 billion by 2025 and $160 billion by 2030. To help meet this market's increasing demand for feedstocks like pulses, lentils and peas, The Andersons is actively assisting growers today across North America.