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Swiss conglomerate Nestle has predicted that its vegan business will hit $1 billion within a decade.

The company is launching multiple vegan products next Spring, under the Garden Gourmet label, in what has been described as a push to reach millennial consumers.

These include a high-tech patty called the ‘Incredible Burger’ – which has been compared to the plant-based Impossible Burger – and purple walnut milk.

Vegan growth

According to Nestle Chief Technology Officer Stefan Palzer, plant-based eaters make up what he described as one of a few quickly growing ‘food tribes’ (the others include gluten-free and lactose-free eaters’).

“While digging deeper into consumer trends, we found they changed a bit in the last couple of years depending on how consumers define a healthy diet,” he said.

“Vegetarianism has never been this popular before and it’s here to stay, I’m convinced about that.”

Maria Chiorando

Maria is the editor of Plant Based News. As a former magazine editor, newspaper reporter, and features writer, her work has been published by The Guardian, The Huffington Post, and various regional newspapers, as well as Vegan Life magazine and Vegan Trade Journal. She has interviewed a huge range of people, from Prime Ministers to authors, activists, pop stars and actors, and enjoys the varied range of topics writing for PBN allows her to tackle.