Change the World 2021: Nestlé and ADM
Nestle is using its scale to turn plant-based food into a mainstream source of nutrition.
nestle is on this year, is changing the world list because of the enormous amount of money it's been investing in the plant based food space. Nestle is definitely one of the biggest food companies out there and it's using its scale, just this massive reach to really turn plant based into a mainstream thing. Nestle has launched plant based across its entire range of products. So there's a vegan kitkat, there's key based tuna alternatives. They're doing insects in dog food. So they really kind of looked at the entire range of products and said how can we change this? They had a brand on the market more than 30 years ago in the plant based area but they kind of stopped paying attention to this. And in the meantime we saw companies like impossible foods and beyond me really become the darlings of the industry. Nestle has said, we're going to catch up. They've invested a lot of money here and they really have scale and reach and have the potential to make the change. Plant based is approaching $1 billion double-digit rates. So this is this is a high growth area for them. ADM is really the biggest maker of plant protein that you've never heard of. Their the behind the scenes guys, they are the ones that are making the ingredients that go into a lot of these products. They've been in plant based industry since the 19 fifties. They claim to be the inventor of the soy burger. Uh They continue to really invest and innovate here. And they have something like 10 investments and joint centers in the plant based space. So they are really at the forefront of the science. They have historically been a professor of commodity crops. This is a huge bet for them to move away from that. They're really trying to reinvent themselves and kind of putting their money in this space. The plant based products used to be for a very small part of the population of your hardcore hippies who really were vegan, that's no longer the case. Plant based appeals to a huge range of people. We've got the rise of the flexitarian who want to eat vegetarian sometimes, but all the time and are really looking for something that taste feels kind of reminds them of meat and that's really what's driving the plant based movement. Some say that the global plant protein industry is $10 billion in size already and could really triple over the next decade, doubling down on plant based is a world changing initiative. We know how resource intensive animal agriculture can be um water, land usage and to feed a growing planet, we need to think of alternatives and plant based is one way we can get there