By CAPosts 02 December, 2020 - 05:00pm 25 views
Sales of vegan alternatives are booming, and consumer goods giant Unilever hopes to profit.
The company, which owns brands such as Ben & Jerry's and Hellmann's, announced that it wants to reach 1 billion euros ($ 1.19 billion) in annual global sales of plant-based meat and dairy alternatives by 2027.
This is roughly five times what Unilever hopes to gain from plant-based substitutes this year, he said.
The Dutch-English company wants to meet this goal by launching its plant-based meat brand The Vegetarian Butcher along with increasing vegan alternatives from other brands. in his portfolio, including Hellmann's, Magnum and Wall's, he said.
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The strategy was first revealed by Jostein Solheim, Unilever's executive vice president of food and beverage for North America.
The objective is healthier meals with less environmental impact
Unilever set the goal of encouraging people to choose healthier foods and reduce environmental impact .
By 2025, the brand also aims to halve food waste in its direct global operations, double the amount of products high in vegetables, fruits, protein or micronutrients , and reduce sugar. and the calories in their ice cream, he said.
Aims for 95% of ice creams to contain less than 22 grams of sugar and less than 250 calories per serving by 2025.
The vegan market is growing
The global market based on plants could reach $ 140 billion by 2029, according to Barclays research.
Unilever increased its plant-based offering in recent years, offering vegan versions of Magnum ice cream, Hellman Mayonnaise, and Ben & Jerry's.
In addition, it acquired The Vegetarian Butcher in 2018 and has since supplied plant-based Whoppers and nuggets at Burger. King.
The company is also funding plant-based food research
Last year, the company invested 85 million euros ($ 101 million) in a food innovation center at Wageningen University in the Netherlands to support the researching plant-based ingredients and meat alternatives, efficient farming and sustainable food packaging for brands like Knorr and Hellmann's
Earlier this year, it began working with biotech startup Algenuity to use microalgae as a vegan substitute for eggs in products such as mayonnaise, baked goods and pasta
Brands joining the vegan market
The market o Plant-based is becoming increasingly competitive as more brands and food chains launch vegan ranges , putting pressure on major plant-based meat players like Impossible Foods and Beyond Meat.
Starbucks is testing its sandwiches Vegan Breakfast in America and launched a Fully Vegan Pumpkin Spice Latte in the UK.
Last week, McDonald's announced that it is developing its own plant-based meat line called "McPlant," and the next day, Pizza Hut launched two plant-based burgers with Beyond Meat.
In November, it opened the first fully vegan butcher shop. from the UK, which sells meat- and dairy-free pastrami, lobster salad and scrambled eggs.
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