Danone plans to triple its plant-based business sales by 2025
Danone has revealed that it plans to triple the size of its plant-based business by 2025, as it aligns its portfolio to meet the demands of the healthy eating trend.
The firm said that, by 2025, it expects its plant-based sales to rise from EU€1.7bn (US$1.95bn) to around EU€5bn (US$5.73bn).
The world’s biggest yoghurt maker told an Investor Seminar that it would continue to invest in fast-growing trends such as plant-based foods, organics, and water to achieve its 2020 strategic goals.
As part of its cost-saving programme, the Paris-based firm says that it aims to achieve EU€1bn in savings by 2020.
- Danone, Hain Celestial and others launch Plant-Based Foods of Canada organisation
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- Danone gets boost from baby-food sales in second quarter
Danone also said that after a year of exceptional growth in China, “sales are contracting in the short term” due to changes in the infant milk formula market.
Danone Chairman and CEO, Emmanuel Faber, said that the company was making “good progress” towards building a company that can “embrace the food revolution.”
He said: “We are developing our unique portfolio of health-focused and purpose-led Manifesto brands, acting as a catalyst for consumer reach.
“Our growth strategy focuses on valorized innovations to address some of the fastest-growing trends, notably among the younger generations.
“We continue to make our organizational model more efficient by empowering our people and fostering engagement.”
Last month, Danone joined the Plant-Based Foods of Canada (PBFA), a lobbying organisation that hopes to advance the interest of the plant-based foods sector in the country.