- Nestlé is working with vegetarian startup Sundial Foods to develop vegan chicken wings with skin and bones.
- The partnership is part of a US$4 billion (R62.8 billion) financing for the San Francisco-based meat substitute company.
- The global meat substitute market is expected to reach USD 23.2 Billion According to data from Euromonitor, it will reach R365 billion by 2023.
- For more stories, please visit www.BusinessInsider.co.za.
Nestlé is seeking to take Plant-based meat boom Go to the next level with vegan chicken wings with realistic skin and bones.
this Company announced On Friday, it led Sundial Foods’ $4 billion (62.8 billion rand) financing, a San Francisco-based vegetarian startup that develops imitation chicken. A Nestlé spokesperson told Insider that the decision to cooperate with Sundial was made as part of the company’s R&D accelerator program after “successful cooperation” with the start-up company.
Sundial’s specialty is meatless chicken wings, and the company says it aims to “provide a complete chicken wings experience, including skin, muscle, and bone.” Sundial’s unique imitation wings are made using proprietary technology and eight basic ingredients, including water, chickpeas, sunflower oil, soybeans and nutritional yeast.
Sundial co-founder Jessica Schwabach told Insider that this round of financing will be used to continue to expand the company’s scale and bring its chicken wings to the market, which is expected to be launched in the spring of 2022.
Schwabach wrote in an email to Insider: “Our goal is to create an experience that is not only nutritious, but also truly enjoyable and worthy of being in the minds of consumers.” “That’s why we have plant-based skins. Get extra crispness and texture, even the bones, so that consumers can fully enjoy and experience the wings of everything except animals.”
Sundial Food
The deal marks the latest developments in the fast-growing plant-based meat industry, which has seen a large number of startups hoping to seize market share from major players such as Beyond Meat and Impossible. According to market research firm Euromonitor, the global meat substitute market is expected to reach nearly US$23.2 billion (Rand 365 billion) by 2023. Tell CNBC.
For Nestlé, this reflects continued interest in meat alternatives, followed by the announcement of the Swiss Conglomerate in July Cooperation with Israeli cell-based startups, The future of meat technology.
