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·         Ben & Jerry’s owner Unilever prepares to cash in on plant-based food revolution with $1 billion sales target

The Anglo-Dutch company has taken steps in recent years to capitalize on the booming demand in meat alternatives

 

·         Unilever sets 1 billion euro sales target for meat, dairy alternatives

… Unilever bought Vegetarian Butcher in 2019… 

 

 

Ben & Jerry’s owner Unilever prepares to cash in on plant-based food revolution with $1 billion sales target

The Anglo-Dutch company has taken steps in recent years to capitalize on the booming demand in meat alternatives

 

By Lina Saigol and Callum Keown, MarketWatch

Nov. 18, 2020

 

Consumer-goods giant Unilever has set a “bold” target of €1 billion ($1.2 billion) annual sales from plant-based foods over the next five to seven years, as it looks to tap into rising demand from consumers who are cutting back on meat and dairy consumption.

 

The growth, a fivefold increase on this year’s €200 million sales estimate, will be fueled by the expansion of its meat-free label The Vegetarian Butcher, as well as increasing vegan alternatives from brands including Hellmann’s, Magnum, and Wall’s, Unilever said in a statement on Wednesday.

 

The Anglo-Dutch company has taken steps in recent years to capitalize on the booming demand in meat alternatives...

 

more, including links 

https://www.marketwatch.com/story/ben-jerrys-owner-unilever-prepares-to-cash-in-on-plant-based-food-revolution-with-1-billion-sales-target-11605707175

 

 

Unilever sets 1 billion euro sales target for meat, dairy alternatives

 

By Martinne Geller, Reuters 

November 17, 2020

 

LONDON (Reuters) - Unilever ULVR.LUNA.AS expects sales of its plant-based meat and dairy products to reach 1 billion euros over the next five to seven years, it said on Wednesday, helped by growth of its Vegetarian Butcher brand and vegan varieties of Hellmann's mayonnaise and Magnum and Wall's ice cream.

 

The target supposes a quintupling of the business, said Hanneke Faber, president of Unilever’s foods and refreshment business.

 

“It will require really, really high growth rates,” Faber told Reuters. “It’s a scary target honestly, but I think it’s important that we set it.”

 

Plant-based meat and dairy products have been one of the fastest-growing packaged food areas. But U.S. player Beyond Meat BYND.O surprised investors earlier this month with lower-than-expected sales and a quarterly loss.

 

Some of Unilever’s vegan products - like its competitors’ - are pricier than the real thing, which could turn off some cash-strapped shoppers in a recession.

 

At Tesco TSCO.L, Britain's largest supermarket chain, a 200 gram pack of Vegetarian Butcher mince costs £2.75 online, equal to £13.75 per kilogram. Tesco's organic beef steak mince is £4.65 for 500 grams, or £9.30/kg.

 

“Scale is going to make a difference over time,” Faber said, adding that it will be a few years before prices come down enough to be comparable, though its vegan mayonnaise could be comparable sooner.

 

Unilever bought Vegetarian Butcher in 2019 and has...

 

more

https://www.reuters.com/article/us-unilever-outlook-plantbased/unilever-sets-1-billion-euro-sales-target-for-meat-dairy-alternatives-idUSKBN27Y001