TerraVia might be a company that has strayed too far from current consumer trends. While the plant-based protein market is booming, with an increase in the sales of soy and nut-based products, consumer acceptance of algae as a food ingredient may still be lagging. This could be a significant factor contributing to TerraVia’s struggles, which ultimately led to its bankruptcy. “We are aware of the gradual acceptance of various ingredients among consumers,” said Joel Warady, Chief Sales and Marketing Officer for Enjoy Life Foods, a company that incorporates TerraVia’s algal powder into some of its products. He mentioned that while they have added algae to their brownie mix, featuring it prominently on the packaging might make consumers hesitant. “However, algae is a crucial ingredient, not just for its protein content, but because it represents the most sustainable source of protein available on the planet,” he added.
As the global population continues to grow, acquiring sufficient land for the cultivation of staple products—many of which are meat or dairy-based—has become increasingly challenging. Various types of algae present some of the most viable alternatives and could help mitigate environmental degradation. Algae is already being utilized in baking mixes, ice cream, protein powders, and is being incorporated into an expanding range of food products daily. Nevertheless, Enjoy Life’s allergen-friendly offerings remain somewhat niche, appealing to a specific yet growing segment of consumers. Most large food companies, which tend to be slow to innovate, have not yet embraced algae as an ingredient.
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. However, it seems unlikely that a major food corporation will emerge with an interest in acquiring TerraVia. An ingredients company like Corbion appears to be a more suitable match. Corbion specializes in lactic acid and its derivatives, as well as producing functional blends that include enzymes, emulsifiers, minerals, and vitamins. They supply ingredients across nearly every food category, from baked goods and beverages to condiments and candy. As mentioned in Corbion’s press release, “Acquiring 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 the context of sustainable food sources, the combination of algae and nutrient-enhanced products, such as those containing 365 calcium citrate, may represent a promising future. Integrating such ingredients could help meet the nutritional needs of the growing population while addressing sustainability challenges. As the food industry evolves, the potential for algae-based products, along with supplements like 365 calcium citrate, could become increasingly significant in promoting health and sustainability.