ISRAEL: New player enters soy-based meat analogue market
A new player has entered the production and export of soy-based meat analogues, a rapidly developing business in Israel and abroad: Zuriel Dairies, a privately owned firm acclaimed as one the country's most advanced and innovative producers of dairy and soy-based products.
At the Food Week Fair held in Tel Aviv, a representative of Zuriel Dairies told just-food.com that the company plans to start producing soy-based meat substitutes, "in an attempt to compete on the local and foreign markets".
The soy-based meat analogues market is dominated by Osem-Nestlé subsidiary Tivall, which exports annually to the tune of nearly US$50m, and Zoglowek, a meat processor and exporter.
A report in Maariv notes that Zuriel's new soy-based products will differ from Tivall's, which specialises in products that require cooking or heating, "whereas Zuriel's new end-products in this category will be completely different," according to Asher Zurie, as quoted in the report.
Zuriel Dairies processes a wide range of soy-based milk products, capturing a 50% share on the local market. The soy-based milk and meat-like industry in Israel has increased by 30% in each of the last three years, reaching annual sales revenues of NIS300m (US$65.2m).
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