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JBS intends to create a global plant-based protein subsidiary

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The company is looking to protect its market share after competitors from Marfrig and ADM have announced their plan to launch a similar company called PlantPlus Food.

Posted on Mar 01 ,07:25

JBS intends to create a global plant-based protein subsidiary

JBS looks to create a company specialized in plant-based protein production in order to preserve its share in this niche market. The company is to act globally, according to information presented by Bloomberg, and follows the path announced by competitors from Marfrig and ADM, who made a similar announcement in May last year. The increased consumer demand for healthy foods has attracted the eye of large companies for the sector. According to information released last year by ADM, South and North America together have a market potential of US $ 2 billion for the sector.

JBS entered the vegetable meat market in 2019, and the new company planned by the company's CEO, Gilberto Tomazoni, would bring together all the regional businesses in a global enterprise. JBS has a considerable presence in the sector, with about 57% of the vegetable hamburger market in Brazil and, when adding Seara's products, the portfolio reaches 11 products, according to Valor Investe magazine.

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