<p>Food giant Nestle said on Wednesday it would spend 100 million swiss francs ($103.58 million) on expanding its manufacturing footprint in China to include a new plant-based food facility and widen its production lines.</p>.<p>The company said its first plant-based food facility for Asia would be built in Tianjin Economic-Technological Development Area (TEDA) and that it could launch faux meat products by the end of this year.</p>.<p>Chinese consumers have been steadily shifting to plant-based diets over the past few years, in part due to a devastating pig disease and bruising Sino-U.S. trade war driving up meat prices. And now with the coronavirus crisis, several consumers are also rethinking their diets.</p>.<p>China's "free from meat" market, which includes alternative meat products, grew 33.5% since 2014 to be worth just under $10 billion in 2018, according to Euromonitor. It predicts that the industry will be worth $11.9 billion by 2023.</p>.<p>The Nescafe coffee maker said the investment in TEDA would also include a significant capacity expansion of Nestle's existing Purina pet food plant, with new production lines offering consumers premium veterinary diet and wet cat food products.</p>.<p>The company, which has 31 production sites in China, also said it would increase annual production capacity of a local biscuit wafer plant.</p>.<p>Nestle's proposed investment comes just a few weeks after U.S. agribusiness giant Cargill said it would introduce a range of plant-based meat products in China following a successful trial of faux meat nuggets by KFC-owner Yum China Holdings. ($1 = 0.9654 Swiss francs)</p>
<p>Food giant Nestle said on Wednesday it would spend 100 million swiss francs ($103.58 million) on expanding its manufacturing footprint in China to include a new plant-based food facility and widen its production lines.</p>.<p>The company said its first plant-based food facility for Asia would be built in Tianjin Economic-Technological Development Area (TEDA) and that it could launch faux meat products by the end of this year.</p>.<p>Chinese consumers have been steadily shifting to plant-based diets over the past few years, in part due to a devastating pig disease and bruising Sino-U.S. trade war driving up meat prices. And now with the coronavirus crisis, several consumers are also rethinking their diets.</p>.<p>China's "free from meat" market, which includes alternative meat products, grew 33.5% since 2014 to be worth just under $10 billion in 2018, according to Euromonitor. It predicts that the industry will be worth $11.9 billion by 2023.</p>.<p>The Nescafe coffee maker said the investment in TEDA would also include a significant capacity expansion of Nestle's existing Purina pet food plant, with new production lines offering consumers premium veterinary diet and wet cat food products.</p>.<p>The company, which has 31 production sites in China, also said it would increase annual production capacity of a local biscuit wafer plant.</p>.<p>Nestle's proposed investment comes just a few weeks after U.S. agribusiness giant Cargill said it would introduce a range of plant-based meat products in China following a successful trial of faux meat nuggets by KFC-owner Yum China Holdings. ($1 = 0.9654 Swiss francs)</p>