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Nestlé was late to the plant-based party that turned the likes of Impossible Foods and Beyond Meat into industry darlings. But now the food and beverage titan is making up for lost time, aggressively launching products across its vast portfolio that have the potential to improve both consumers’ health and the planet’s: vegan KitKats; pea-based alternatives to tuna and milk; Purina pet food made with insects and fava beans. The Swiss multinational has about 10% of its R&D employees working on plant-based goods, which are now approaching $1 billion in revenue annually for the company. Nestlé’s massive scale and distribution network is not only driving double-digit sales growth of meat and dairy alternatives for the company, but also helping mainstream the entire category worldwide.
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