Nestle Still Bullish on Plant Protein Despite Dip in Demand
- Sales of faux meat suffering from inflation, executive says
- Company sees growth in market catering to ‘flexitarians’
A sandwich with plant-based meat-free pieces at the Nestle’s headquarters in Vevey, Switzerland.
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
A recent fizzle in the hype surrounding plant protein consumption will give way to a more sustainable growth trajectory that could see the segment account for 30% or 40% of the global protein market, according to a top Nestle SA executive.
Like the initial boom in craft beer, many investors piled into the faux meat market based on overly optimistic expectations of consumer uptake, Chief Technology Officer Stefan Palzer said in an interview Monday.