Suresh Narayanan, the Chairman and Managing Director of Nestle India, disclosed the company’s plans to launch plant-based protein products in the country during the Pritam Singh Memorial Conference. This strategic move is aimed at tapping into the Indian market and catering to the unique preferences of local consumers. While confirming Nestle’s entry into this market segment, Narayanan refrained from divulging specific details about the upcoming plant-based protein offerings.
Nestle has introduced globally successful plant-based alternatives like Sensational VUNA, a tuna fish substitute, vrimp made from seaweed as a shrimp alternative, and various chicken shred and egg alternatives. With plans to introduce these innovations in India, Nestle enters a market already populated by FMCG giants like ITC Foods and Tata Consumer Products, alongside startups such as Blue Tribe and Imagine Meats.
At the conference, Narayanan underscored Nestle’s steadfast commitment to sustainability. He detailed initiatives intending to harness rice field stubble to power their Moga factory, with an aim to curtail stubble burning in the area by 4-5%, potentially benefiting Delhi’s air quality. Furthermore, Nestle is steadily progressing towards being coal-free within the upcoming year, aligning with their sustainability objectives. Notably, the company has already attained plastic neutrality by recycling about 20,000 tonnes of plastic packaging over a span of three years.
Narayanan underscored Nestle’s dedication to environmental preservation, citing a substantial six-fold surge in investments towards sustainability after discussions with investors subsequent to the third-quarter results. Additionally, the company has achieved notable milestones, reducing water consumption by 51% and cutting down wastewater production by 38%.
Nestle India’s entrance into the plant-based protein sector denotes not just a transformation in its product range but also underscores its responsiveness to changing consumer tastes. Additionally, the company’s focus on sustainability mirrors its pledge toward ethical business practices within India’s dynamic FMCG industry.
