Hormel Foods Corp., one of the nation’s largest meat companies, is developing plant-based food, its top executive said Tuesday, joining a new fray after a meat-alternative maker produced the biggest IPO so far this year.
The Austin, Minn.-based food maker built an empire on animal-based meat products but has begun calling itself a protein company in recent years. Now, Hormel is developing a vegan pizza topping and other plant-based products to capitalize on apparent demand for satisfying, non-meat foods.
“The consumer seems to be speaking about having plant-based as a choice,” Jim Snee, chief executive of Hormel, said at the 2019 dbAccess Global Consumer Conference in Paris.
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