Nestle upbeat on replacing meat with plant proteins despite demand dip

Like the initial boom in craft beer, many investors piled into the faux meat market based on overly optimistic expectations of consumer uptake, Nestle said.

A recent fizzle in the hype surrounding plant protein consumption will give way to a more sustainable growth trajectory that could see the segment account for 30% or 40% of the global protein market, according to a top Nestle executive.

Like the initial boom in craft beer, many investors piled into the faux meat market based on overly optimistic expectations of consumer uptake, chief technology officer Stefan Palzer said in an interview.