Nestle SA (SWX:NESN) has bet heavily on its plant-based food products, especially its Incredible Burger, which has already created a niche for itself in the highly competitive vegan market as a solid substitute for the traditional meat burger.
The fact that the company has been operational for the last 153 years has not stopped its CEO Mark Schneider from capturing the hearts and pockets of most millennial consumers as the food company seeks to distance itself from its storied past.
The Swiss food giant has since put its meat business under review, which basically means that it has suspended its meat-based products in favour of its plant-based food products and this massive risk has already paid off handsomely.
The food manufacturer has been on a different path since Schneider took over in 2017 and switched the firm’s strategic direction towards the vegan market in a bid to boost sales and return the company to profitability.
Many food experts have said that they cannot tell the difference between Nestle’s Incredible Burger and its meat variant, which means that the company is doing something right as the meatless burger is very popular among consumers.
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