CJ Cheiljedang is also reportedly considering expanding the SPC business into the food processing segment.
The company, which is also a leading amino acid producer, bought Brazil’s Selecta, the world’s largest SPC maker, with branches in 37 countries, in June 2017 for around $195.2m.
The acquisition resulted in the South Korea group becoming a dominant SPC player globally.
SPC is increasingly important for aquaculture industries as a protein alternative to fishmeal, according to a report from the US soybean export council (USSEC). Many aquaculture species require high levels of protein and fat in their diets. Most marine fish species in particular require nutrient dense diets with 40-55% crude protein and up to 30% fat.
The USSCE cites a growing body of research indicates that SPC is a high quality protein product for use in feed for many marine fish species, as well as for marine shrimp feeds and as a replacement for fishmeal in fingerling diets of freshwater fish.
SPC, which also has inherent productive advantages, is also being targeted at the young animal nutrition segment.
A study by Stein et al, published in the Journal of Animal Science, Nutritional value of soy protein concentrate ground to different particle sizes and fed to pigs, indicated that SPC may be partly or fully substituted for animal proteins such as spray-dried protein plasma or fishmeal without any negative effects on growth performance during the first four weeks after weaning. That research was funded by Selecta.
CJ Cheiljedang Corp wants to capitalize on the growth potential of the SPC market.
It is hoping to hit an annual sales of target of 700 billion won in SPC and related processed goods by 2020.
The Korean group also said it plans to continue research into developing functional products to support animal nutrition.