As always, when it comes to plant-based products, everything depends on nature. On one hand, there is the soil that gives us the harvest, and on the other hand, there is mankind, who is responsible for processing and demand. If we are on this subject already, we can say that the release of our plant-based newsletter is almost like a two-week natural cycle… isn’t it?
In terms of products, we note that all proteins are in demand due to the general ongoing trend of vegan meat consumption, and there have also been significant changes in the sugar trade in Europe. All this shows how important it is to keep a close eye on changes in the market.
We also have some new statistics from the United States showing that due to high inflation, estimated spending on a cookout on Independence Day has increased by 20% compared to 2022. With the European Holiday period approaching, will we see the same increase here? For news from other parts of the world, check out the What Else? section.
Native Starches
Recently, we have observed a good demand for Native Tapioca, Corn and Potato Starches. Customers seem to be less interested in buying Native Wheat Starch, which could be because the other starches are gluten-free. Starch prices have stabilized due to summer, which is typical for this time of year. After the vacations, we expect prices to increase. What also influences the demand for this product group is the gluten-free and vegan movement, which is still on.
Modified Starches
Since these also have use in the manufacture of gluten-free food products, we see a demand in countries that are focused on this kind. We see that the big players, especially the European producers are back in the game, fighting for market share to win back customers.
Proteins
There is interest in Corn Gluten Meal as it is more affordable for Aquafeed and Petfood customers. Demand for Vital Wheat Gluten, Pea Protein, and Soy Protein Isolate is improving, as evidenced by new contracts. More specifically, in the case of VWG – we are seeing what the market’s bottom line is. There are fewer volumes and higher prices. It might be the right time to buy.
Sweeteners
One of the most important news is that Ukraine has stopped exporting sugar. This may be because the country is worried about not having enough product for its own domestic market. So, naturally, Europeans are looking for alternative sources of this commodity. As a result, the price is likely to rise until the next harvest. In the case of Dextrose the price dropped really strongly. Every buyer is checking that. People know that they can get a cheaper offer, so we can say that the interest is based on a good price.
Soy-based raw materials
Recently, the use of soy lecithin has increased. Demand for small quantities is being met by small and medium enterprises, as large manufacturers are already supplied for Q3. The demand for Soy Protein Isolate is due to, once again, the increasing interest in sports nutrition products and alternative vegan diets on the side of the end-users.
