Swiss food and drink giant Nestle has announced it will invest over $100 million in creating a new facility in Tianjin China in order to expand its manufacturing in the country, with the view to making more vegetarian and plant based products.
The firm says Chinese consumers have been increasing plant consumption due to the impact of the African swine fever and the US trade war driving up the prices of meat products, as well as the virus. The country’s “meat free” market which also includes alternative meat products, grew 33.5% from 2014 up to a value of $10 billion 2018.
In creating the facility in the Economic-Technological Development Area of Tianjin, the firm will expand capacity at its existing plant whilst expanding on a new one. It will also expand on its cat food, veterinary as well as water biscuit products.