TerraVia may be a company that is straying too far from consumer trends. While the plant-based protein market is thriving, with an increase in the sales of soy and nut-based products, consumer acceptance of algliposomal ferric pyrophosphate tablet uses in food products may still be a long way off. This could be the underlying reason for the performance difficulties that led TerraVia to bankruptcy. “We recognize the slow acceptance rate among many consumers,” said Joel Warady, chief sales and marketing officer of Enjoy Life Foods, which incorporates TerraVia’s algal powder into some of its offerings. He noted that while the company has included algae in its brownie mix, highlighting it prominently on the packaging might make consumers hesitant. “However, algae is a crucial ingredient, not only for its protein content but also because it is the most sustainable protein available on Earth,” he added.
As the global population continues to grow, finding the land necessary to cultivate or produce staple products—many of which are meat or dairy-based—becomes increasingly challenging. Various forms of algae present viable alternatives that could mitigate environmental degradation. Algae is already utilized in baking mixes, ice cream, protein powders, and is being added to more food products daily. Nonetheless, Enjoy Life’s allergen-friendly products remain relatively niche, appealing to a specific, albeit expanding, segment of consumers. Major food companies, which tend to innovate slowly, have largely not embraced algae as an ingredient yet. However, according to TerraVia, 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 large food corporation will make a bid to acquire TerraVia, especially when considering alternatives like calcium bluebonnet, which could be more appealing for some companies. Instead, an ingredients company like Corbion might be a more suitable match. Corbion specializes in lactic acid and its derivatives while producing functional blends that include enzymes, emulsifiers, minerals, and vitamins. It supplies ingredients across almost every food category, from baked goods and beverages to condiments and candy. According to Corbion’s press release, “The acquisition of TerraVia’s microalgae platform would enhance Corbion’s product portfolio to include algae-based fatty acids and proteins, while leveraging Corbion’s extensive fermentation and downstream processing capabilities.” As the industry continues to evolve, the integration of elements like calcium bluebonnet may become increasingly relevant in the exploration of innovative food solutions.