Shuangta Foods: pea protein production capacity is expected to double in 5 years

On the morning of September 14, Shuangta Foods released a record sheet of investor relations activities. Announced that the company's pea protein production capacity will be expanded at a rate of 20% per year in the future. At present, the company's pea protein accounts for 30%-40% of the industry and will increase to about 60% in the next three years. At present, the annual production capacity of Longkou vermicelli is about 300,000 tons. The current capacity of the company's vermicelli is about 20%, and it will increase to about 50% in the future.

Shuangta Foods also stated that the company's current production capacity of pea protein is 60,000-70,000 tons. The pea deep processing project will be put into operation next year, which can add 15,000 tons of high-end protein production capacity and expand production at a rate of 20% each year. It is expected to double.

At present, the company has 40,000 tons of high-end pea protein and 30,000 tons of low-end pea protein. In the next five years, the company's new pea protein products are basically high-end pea protein production capacity. In the future, the company will upgrade part of the low-end pea protein production capacity to high-end pea protein production capacity based on the pea protein market situation.

According to Shuangta Foods, high-end peas are mainly used in solid protein powder, energy bars, breakfast cereals, baked goods, plant meat and other fields. Low-end pea protein is mainly used in high-end pet food, high-performance fish feed and other fields.

Pea protein is currently widely used in markets such as Europe and the United States. Now the Chinese market and the Japanese market are also beginning to apply pea protein. In the future, the substitution effect of pea protein in the field of high-end plant protein will gradually appear. The market space of pea protein raw materials in the future should be around 600,000 tons.

Speaking of plant meat planning, Shuangta Foods stated that the company has hired a top domestic brand marketing planning team to carry out the overall layout of the plant protein meat marketing strategy; two independent teams have been set up to make full use of the existing supermarket, catering, E-commerce and other channel resources operate plant meat business.

In the future, we will strengthen cooperation in product research and development to create healthy and characteristic plant meat products suitable for the eating habits of people in Europe, America and Asia; we will increase cooperation with some leading snack food and fast-moving food industries to develop new products, explore and occupy the market, in the future Plant meat products will be sold around the to B and to C ends.