‘In recent years, people are choosing more and more healthy, nutritious, and environmentally friendly foods.’
Nestle is looking to tap into the growing Chinese vegan food market, which is rapidly evolving as consumers opt for more healthier and meat-free options.
Reuters reports that the Swiss-based multinational food and drink giant will invest $ 103.58 million to build its first plant in the Tianjin Economic-Technological Development Area, barely 72 miles from Beijing.
The new plant with a designed annual capacity of 8,000 tonnes marks Nestle’s first of its kind plant-based facility in Asia as it aims to launch plant-based meat products by the end of the year. The Swiss food giant will also focus on expanding the company’s existing Purina pet food plant to offer premium veterinary diet and wet cat food products.
The announcement comes close on the heels of other global food and beverage companies vying to capture the growing market as demand for ethical, sustainable and nutritious alternatives increase in Mainland China.
According to Euromonitor, plant-based meat sales in China increased from $7.2 billion in 2014 to $9.7 billion in 2018 and the market is projected to be worth $11.9 billion by 2023..
Industry experts attribute the changing food landscape to several factors including steep rises in pork prices partly due to the sweeping African swine fever outbreak and the ongoing U.S – China trade war as well as the novel coronavirus, which experts believe to have sparked from a wet market in Wuhan, China
“In recent years, the food sector has undergone a quiet revolution as people are choosing more and more healthy, nutritious, and environmentally friendly foods,” reads Nestlé’s statement.
China goes plant-based
With the burgeoning plant-based food market, several companies have already launched alt meat options. US agribusiness Cargill partnered with Yum China to release its meat-free chicken nuggets across KFC in China.
Last month, Beyond Meat partnered with Starbucks to enter China’s food market lining up the coffeehouse’s menu with vegetarian options along with Omnipork- a plant-based pork alternative brand.
Impossible Foods launched a fake pork product in November 2019 to attract China’s predominantly pork eating population after the country witnessed sharp rises in pork prices partly due to the sweeping African swine fever outbreak and the ongoing U.S – China trade war.
Share this news to support the growing trend of the plant-based market globally.
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