Nestle has recently announced its plan to invest US$104 million in China to include a new plant-based food facility. This will be its first plant-based food facility for Asia which will be built in Tianjin Economic-Technological Development Area (TEDA), and is expected to launch its first meat subsitute products by the end of 2020.
Due to rising meat prices, African swine fever which decimated its pig population, and the recent coronavirus pandemic, Chinese consumers have started to seriously relook at their diets. Euromonitor estimated China’s free-from-meat market to be worth US$10 billion in 2018 and will reach US$11.9 billion by 2023.
Apart from the plant-based food facility, Nestle will also expand its existing Purina pet food plant in TEDA.
Nestle has 31 production sites in China. It also plans to increase its annual production capacity for local biscuit wafer product in the country.
Nestle to invest US$100 million on a new plant-based food facility in China
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