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Dairy Firm Invests £4 Million In Plant-Based Production
UK dairy producer Meadow Foods has invested £4m in a new plant-based manufacturing facility located on its site in Chester.
The food production in the new part of the site is expected to begin by the end of 2020. The company will be manufacturing new value-added plant-based ingredients, such as milk, creams, yoghurts and custard.
Recently, Meadow Foods has developed a blend of oats and rice as the base recipe for its new plant-based range. The company claims the unique mixture has the perfect taste and texture.
The company also plans to extend the vegan range to include sour creams and soft cheese in the nearest future.
Commenting on the investment, CEO Mark Chantler said: “This decision is in direct response to consumers who are choosing to make lifestyle changes and purchase new and innovative products, as well as demand from our customers for high quality, valued-added plant-based ingredients.”
The business reported massive sales growth and significant profit rise in 2019, thanks to its broadened products portfolio and enhanced scaling strategy.
In January, Chantler said: “This strategy for growth will continue and is reflected in our recent acquisition of Nimbus Foods, which has allowed us to further diversify our portfolio and cement our position as a leading supplier of value-added ingredients.”
Plant-based food and drink sales see record gains in 2020 and outpace sales in other food categories.
According to a new report from Research & Markets, the global plant-based meat market will grow 17 per cent in 2020 and is projected to be worth US$3.6bn ($4.2bn in 2021).
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