Nestlé to open plant-based food factory in China
Swiss based multinational food and drink giant Nestlé, has just announced that they are planning on building a plant-based food plant in China, due to the demand for meat alternatives. The announcement is part of a 100 million Swiss franc investment on the first plant in China that will produce plant-based meat alternatives.
The sales of plant-based meat in China increased from $7.2 billion in 2014, to $9.7 billion in 2018, according to Euromonitor International. China is home to almost 1.4 billion people, and with consumers seeking healthier meat alternatives, it is the perfect time for a new plant just outside of Beijing.
CNBC reported that China’s “free from meat” market that includes fake meat products is likely to reach $11.9 billion by 2023.
The Swiss food giant will build the plant in Tianjin Economic-Technological Development Area (TEDA) and is expected to launch its first products by the end of this year.