According to the reports, in this upcoming spring, Nestlé is planning to enter a vegan market with meat-free named ‘Incredible Burger’. A meat-free burger is a plant-based patty made from soy and wheat protein. The burger will be sold in grocery stores under its Garden Gourmet arm, as the company is aiming to capitalise on the growing appetite for plant-based products.
The Incredible Burger is not to be confused with the Impossible Burger, the highly popular “bloody” burger from Silicon Valley start-up, Impossible Foods. That company plans to bring a raw version of the burger to supermarket shelves, but before that, they need to get approval from the FDA. Among Nestle’s capability to market its product with its deep pockets or Impossible Foods’ existing popularity, which one is going to win the race that is a very interesting thing to be seen.
Considering the health benefits and other ethical concerns, there is more popular with meat-free/vegan products among the young population. Nestle has also observed a drop in demand for its meat and dairy products and the planned release is a business strategy to align with this.
As per the chief executive officer of Nestlé’s the company is claiming that this plant-based business may reach $1 billion in sales within the next ten years. He said, “While digging deeper into consumer trends, we found they changed a bit in the last couple of years depending on how consumers define a healthy diet. Vegetarianism has never been this popular before and it’s here to stay, I’m convinced about that.”
This release could also be connected with the moves from other big company’s like Unilever, which purchased Dutch meat substitute company The Vegetarian Butcher to establish its position in the meat-free segment.