Nestle SA is currently planning to enter the cultured-meat market in a move that could see the world’s most enormous food company help deliver the nascent technology faster to the mass market.
According to anonymous resources, the Swiss giant has been working on alternative meat products that would blend cultivated meat with plant-based ingredients. Israeli cell-based startup Future Meat Technologies Ltd. will develop the meat, the people said.
Mark Schneider, Nestle’s Chief Executive Officer is pressing ahead with an alternative protein strategy as environmental and health concerns drive more consumers to opt-out of conventional animal products. After a relatively late decision to enter the market for plant-based products, the early move would help Nestle gain a foothold in an industry that may reach 35% of the $1.8-trillion meat market by 2040, according to analysts at Kearney, a consultancy.