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New Joint Venture Enters Plant-Based Milk Alternatives Market

  • 23 January 2024

Bitburger Braugruppe, renowned for brewing beer, has joined forces with confectionery manufacturer Zentis to venture into the growing market of plant-based milk alternatives. The collaborative venture, named V-Comp Pro, specifically targets manufacturers engaged in the production of plant-based food and beverage concepts.

A recent study by GFI Europa reveals that the market for plant-based milk alternatives grew by 13% in 2022, reaching a total value of €552 million. Projections suggest that this market is expected to rise to approximately €2 billion by 2025. These impressive growth figures motivate Bitburger Braugruppe and Zentis to make their entry. They particularly see opportunities for milk alternatives based on oats, a raw material sourced from Europe.

V-Comp Pro: Simple Preparation and Own Product Lines

Based in the German city of Aachen, V-Comp Pro offers formulations for the straightforward preparation of plant-based milk alternatives. The joint venture also introduces two proprietary product lines: Oat Pro and Oat Pro Plus. All these formulations come with an organic certification, emphasizing the focus on sustainability and quality.

Financial Performances

In 2022, Bitburger Braugruppe achieved a turnover of €729 million, while Zentis accounted for a turnover of €711 million. The robust financial positions of both companies indicate a strong foundation for the new joint venture, positioning itself as a player in the rapidly growing market of plant-based milk alternatives.

Source: Food & Agri business