Danone CEO: Plant-Based to Become as Big as Dairy

Multinational food giant Danone North America’s plant-based product business could become as big as its dairy-based yogurt business within the next 10 years, according to Danone CEO Emmanuel Faber. Its plant-based category, which includes vegan brands Silk and So Delicious, currently generates approximately $1 billion in sales—compared to $2 billion in dairy—but is growing faster as demand for vegan alternatives continues to rise. “Penetration is very high and it’s very widely adopted already,” Faber said at a recent company event in Barcelona. The corporation acquired vegan food company WhiteWave Foods in 2016 for $12.5 billion and plans to triple its total plant-based revenue to about $5.6 billion by 2025, starting with the expansion of its Alpro brand in Europe with new products such as non-dairy ice cream. Danone also plans to launch vegan yogurt under its largest brand, Activia, to countries such as Spain, France, and the United Kingdom within the next 12 months. Plant-based milk such as soy and almond make up approximately 80 percent of Danone’s current plant-based sales, while 15 percent are from non-dairy yogurts, and five percent from vegan desserts. To meet its targets, Danone plans to expand further into non-dairy ice cream, vegan cheese, and vegan baby food.