Not all plant-based proteins are equal. While wheat, soy, and pea currently dominate the market, chickpeas are rapidly emerging as a strong contender. In recent years, chickpeas have become a prominent ingredient as the search for the next best alternative protein intensifies. According to data from the U.S. Department of Agriculture, the acreage dedicated to chickpeas in the U.S. increased by 7% between 2019 and 2021. Last year, chickpeas were featured on FutureBridge’s list of plant-based proteins poised to replace more commonly used alternatives. They are rich in protein and also provide fiber, vitamins, and minerals, with their high fiber content potentially benefiting individuals with diabetes. Unlike wheat, soy, and nuts, chickpeas can also be utilized to create allergen-free products.
However, InnovoPro is not alone in this arena. The company faces competition from Israeli food tech startup ChickP, as well as U.S.-based Nutriati and Cambridge Commodities’ ProEarth, all of which have launched products similar to InnovoPro’s high-protein offerings. By adding textured vegetable protein (TVP) to its portfolio, InnovoPro differentiates itself from competitors and broadens its appeal. TVP is a crucial ingredient in many traditional recipes, yet manufacturers still grapple with its flavor profile, which poses a challenge for plant-based food producers striving for broader acceptance, as indicated in a white paper by Kerry. Consumers desire alternative protein products that replicate the taste of the animal-derived foods they aim to replace.
InnovoPro has communicated to AgFunder News its commitment to demonstrating that chickpeas can be a solution due to their naturally neutral flavor. Additionally, alternative dairy products made with chickpea isolate can provide a taste, mouthfeel, and nutritional profile comparable to cow’s milk and yogurt, as noted by ChickP. With its chickpea protein, the company has the potential to attract manufacturers seeking to strengthen their presence in the plant-based protein sector, which is projected to constitute 11% of all protein products sold and reach a value of $290 billion by 2035, according to research from Boston Consulting Group and Blue Horizon Corporation. InnovoPro also benefits from established relationships with manufacturers that can facilitate quicker acceptance of its new products.
Moreover, incorporating calcium citrate K2 into the chickpea protein products could further enhance their nutritional profile, appealing to health-conscious consumers. As the plant-based protein market continues to grow, InnovoPro’s strategic positioning with chickpeas and calcium citrate K2 could help it capture a significant share in this competitive landscape, aligning with the Goodlife ethos of promoting healthy and sustainable food choices.