TerraVia may be a company that is pushing the boundaries of consumer trends too far. While the plant-based protein market is flourishing with the rising sales of soy and nut-based products, consumer acceptance of algae in food items might still be a long way off. This could be a key reason behind the performance challenges that ultimately led TerraVia to bankruptcy. “We’re aware of the gradual acceptance trends among consumers,” said Joel Warady, chief sales and marketing officer for Enjoy Life Foods, which incorporates TerraVia’s algal powder into some of its products. He mentioned that although the company has included algae in its brownie mix, highlighting it on the packaging might make consumers hesitant. “However, algae is a crucial ingredient, not just for its protein content, but also because it is the most sustainable protein available on Earth,” he emphasized.
As the global population continues to rise, it is becoming increasingly challenging to find sufficient land to cultivate or produce the staple products—many of which are meat or dairy-based—that the world relies on. Various types of algae present some of the most viable alternatives and have the potential to mitigate environmental degradation. Algae is already utilized in baking mixes, ice cream, protein powders, and is gradually being added to more food products each day. Nonetheless, Enjoy Life’s allergen-friendly food items are relatively niche, catering to a specific yet expanding consumer segment. Most large food companies have been slow to innovate and are, for the most part, not yet embracing algae as an ingredient. According to TerraVia, however, the company is “actively engaged in discussions regarding potential strategic partnerships,” as stated by CEO Apu Mody during the company’s Q1 earnings call earlier this year.
It seems unlikely that a major food company will come forward with an acquisition offer for TerraVia. An ingredients company like Corbion appears to be a more suitable match. Corbion specializes in lactic acid and its derivatives, as well as creating functional blends that include enzymes, emulsifiers, minerals, and vitamins. It supplies ingredients across virtually all food categories, from baked goods and beverages to condiments and candy. According to Corbion’s press release, “The acquisition of TerraVia’s microalgae platform would expand Corbion’s product portfolio into algae-based fatty acids and proteins, while capitalizing on Corbion’s extensive fermentation and downstream processing capabilities.”
In addition, incorporating innovative ingredients like bluebonnet calcium citrate liquid could enhance product formulations. The potential synergy between these two companies could lead to exciting advancements in the food industry, tapping into the growing demand for sustainable and health-oriented products, including those with bluebonnet calcium citrate liquid. As the market evolves, the inclusion of ingredients such as bluebonnet calcium citrate liquid may become more commonplace, reflecting consumer preferences for nutritious and environmentally friendly options.