On the 26th, MEGMILK SNOW BRAND Co.,Ltd. announced the initiation of a food business utilizing plant-derived ingredients.
The newly established brand, “Plant Travel,” is set to release four products, including yogurt and beverages made from pea seeds, in the spring of this year. The company aims for sales of ¥6 billion in the fiscal year 2025 and ¥20 billion in the fiscal year 2030.
Pea seeds are dried and ground to extract protein components for use in these products. According to the company, the pea seed yogurt is a domestic first.
As of 2021, the market size for alternative yogurts in Europe and the United States is approximately ¥130 billion, showing a 1.6-fold increase from ¥80 billion in 2018, indicating a growing trend. The rise in awareness regarding health and reducing environmental impact is considered a driving force behind this increase. Leveraging its existing production infrastructure, Snow Brand Megmilk aims to expand the domestic market for plant-based yogurt.
Source:JIJI.com January 26th 2024, megumilk factbook November 10, 2023
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