Noticing the exploding sales of meat substitutes, Nestlé will ramp up investments in Garden Gourmet. "We see a huge potential. We are at a tipping point, a unique opportunity to play a leading part in society."
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Plant-based food products have seen double-digit growth in the Benelux over the past two years. Meat alternatives represent the largest segment, but new categories such as plant-based yoghurt and vegan cheese are growing the fastest. Discounters are catching up.
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Oatly, which is causing a great furore with its oat milk, is preparing an IPO in New York. The producer of plant-based dairy alternatives would be worth up to 10 billion dollars there.
Unilever wants to achieve a turnover of at least 1 billion euro within five to seven years with vegetable alternatives to meat and dairy. The multinational expects an explosive growth of the market.
European Parliament has voted against the proposed ban on the use of designations referring to meat for plant-based alternatives. However, designations referring to dairy products will continue to be banned.
European Parliament is voting this week on a possible ban on terms such as 'veggie burger' and 'vegan sausages'. According to the meat industry, such terms only confuse consumers.
Albert Heijn will be expanding its range of vegetarian and vegan products significantly this autumn. The Dutch supermarket chain is thus responding to the increasing demand for plant-based products.