The plant-based segment had seen steady growth over the past few years. Plant-based products are now shaping some of the biggest company portfolios in the food industry. It makes sense that established companies are getting on board with this plant movement. It has been sighted by UBS, that sales of plant-based protein and meat alternatives are projected to increase to a whopping $85 billion in 2030.
Consumers often consider plant-based products as healthier alternatives, with a study showing 52% of people who eat more plant-based food commented that they felt much healthier and cleaner. The pandemic has led to plant-based foods being more accessible in comparison to the supply chain & shortages slowdown of the meat product market.
“Developing nutritious and great-tasting plant-based meat and dairy alternatives requires access to tasty, nutritious and sustainable raw materials as well as proprietary manufacturing technology,” says Stefan Palzer, Nestlé Chief Technology Officer. “The partnership with Burcon and Merit will give us access to unique expertise and a new range of high-quality ingredients for plant-based food and beverages.”
In 2017, Danone’s strategic move towards plant-based food and drinks – with the acquisition of WhiteWave – came at the right moment to meet consumer expectations for healthier and sustainable choices. “It enables [Danone] to enrich [their] portfolio with consumer-loved brands and health-focused options, complementary to [their] dairy fermented products.”
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Which large global brands are looking at advancing their plant-based categories?