Nestle is certainly paying attention to the plant-based protein space. The food giant starts the new year with announcement that it will be launching its own meat-like, plant-based burger patty. This will be an interesting market to keep an eye on as more players join the fray.
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Set to rival other meat alternatives such as the Impossible Burger and the Beyond Burger, Nestlé’s plant-based patty made from soy and wheat protein will reportedly be released through its Garden Gourmet brand in the spring.
The planned release comes as Nestlé realigns its business strategy to adapt to the falling demand for meat and dairy products, particularly from younger consumers, due in part to ethical and health concerns.
With a greater focus on this area, Laurent Freixe, chief executive officer of Nestlé’s Americas unit, claims that the company’s plant-based business may reach $1 billion in sales within the next ten years.