Yogurt maker Danone has unveiled plans to fuel plant-based sales to €5 billion by focusing on the fast-growing food category.
Emmanuel Faber, Chairman and CEO said the aim was to build a company uniquely positioned to embrace the food revolution. He said Danone is developing a unique portfolio of health-focused and purpose-led manifesto brands, acting as a catalyst for consumer reach. By maximizing the plant-based opportunity Danone plans to triple its worldwide plant-based sales from €1.7 billion to around €5 billion by 2025. In addition to accelerating its core plant-based beverages and yogurt categories, the dairy giant revealed it would expand into adjacencies to unlock unique new opportunities.
With investments in plant-based brands such as coconut water Harmless Harvest and its $12.5-billion acquisition of F&B company WhiteWave in 2016, Danone has already started to position itself as a leader in “better for you” sustainable products.
Did you know?
The global dairy-alternative market is expected to exceed US$24 billion within the next eight years.