Plant protein and ingredient sector sets sights on $25 billion goal

(Debra Murphy/RealAgriculture)

Protein Industries Canada has released “The Road to $25 Billion,” an updated roadmap for Canada’s ingredient manufacturing, food processing, and bio-products sector, which includes a goal of $25 billion in revenue by 2035.

Canada’s agriculture and food sector has long been undervalued as an economic driver, says Bill Greuel, CEO of Protein Industries Canada. “Currently, our trading partners import Canadian raw commodities, and generate value through ingredient manufacturing, food production, and bio-product development. Some of these products are exported back to Canada. Bringing this value-added opportunity home represents the $25 billion potential outlined in the Roadmap,” he says.

Greuel adds that the Canadian government has shown interest in investing in electric battery manufacturing as means to meeting its sustainability and economic goals, now he wants to see the same kind of support for the plant protein and ingredient sector.

“The EV battery industry presented a similar question—do we want to continue being an exporter of critical minerals? Or do we want to be a maker of high-value goods? It’s time to ask the same question of our agricultural sector,” Greuel says. “We have a massive opportunity to build on the strength of our commodity production, to start processing more of our commodities here at home and create an economy that is resilient to global disruptions.”

PIC has released a report on the roadmap and a full diagram of the steps required to meet its target, including investing in infrastructure, trade, and domestic processing. Read that here.

Hear from Bill Greuel as he explains how the plant protein sector plans to reach $25 billion in revenue by 2035:

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