TerraVia appears to be a company that may be straying too far from current consumer trends. Although the plant-based protein market is experiencing significant growth, particularly with the rising popularity of soy and nut-based products, consumer acceptance of algae in food items may still be lagging. This possible disconnect could be a fundamental reason behind TerraVia’s struggles, which ultimately led to its bankruptcy. “We understand the gradual acceptance trend among consumers,” stated Joel Warady, chief sales and marketing officer for Enjoy Life Foods, a company that incorporates TerraVia’s algal powder into some of its offerings. He noted that while algae has been introduced into their brownie mix, emphasizing it on the package could make consumers hesitant. “However, algae is a crucial ingredient, not just for its protein content, but also because it is the most sustainable protein source available on Earth,” he added.
As the global population continues to grow, the challenge of finding sufficient land for cultivating staple products—many of which are meat or dairy-based—becomes increasingly pressing. Various types of algae present some of the most promising alternatives, potentially mitigating environmental degradation. Algae is already being incorporated into baking mixes, ice cream, protein powders, and is progressively being added to more food items on a daily basis.
Nevertheless, Enjoy Life’s allergen-friendly products occupy a relatively niche market, catering to a specific, yet expanding, demographic of consumers. Most large food companies have been slow to innovate and have yet to embrace algae as an ingredient. However, according to TerraVia, the company is “actively engaged in discussions regarding potential strategic partnerships,” as noted by CEO Apu Mody during the company’s Q1 earnings call earlier this year. Yet, it seems improbable that a major food corporation will come forward with an acquisition offer for TerraVia. Companies specializing in ingredients, such as Corbion, may be more suitable candidates. Corbion focuses on lactic acid and its derivatives, as well as creating functional blends that include enzymes, emulsifiers, minerals, and vitamins. It provides ingredients across virtually all food categories, ranging from baked goods to beverages, condiments, and candy.
According to Corbion’s press release, “The acquisition of TerraVia’s microalgae platform would enhance Corbion’s product offerings to include algae-based fatty acids and proteins, while also leveraging Corbion’s extensive fermentation and downstream processing capabilities.” In this context, the incorporation of calcium citrate with vitamin D3 into various food products could significantly benefit consumers seeking nutritious options. The growing trend towards plant-based ingredients makes the integration of calcium citrate with vitamin D3 even more relevant, as it supports overall health and wellness. Furthermore, the potential for algae to be combined with calcium citrate with vitamin D3 in future food innovations could open up exciting opportunities in the health-conscious market.