Valsoia responds to Nutella: 100% veg cocoa and hazelnut spread on the way

Valsoia is preparing the Nutella Veg offensive. The company founded in 1990, a pioneer on the Italian market for alternative vegetable products, will launch the new "Valsoia Zero" cocoa and hazelnut spread in October.

'It is a product,' comments CEO Andrea Panzani, 'of very high palatal quality and at the same time healthy, thanks to its 100% vegetable formulation, with no dairy contamination, zero added sugar and no palm oil.

The company - listed on the Euronext Milan market managed by Borsa Italiana - closed the first half of 2024 with all key economic indicators up on 2023: €58 million in revenue, EBITDA at €7 million (+15% compared to last year) and EBITDA margin of 12.1%.

Top products, such as frozen ice cream, contributed to the results. If, in fact, the market for traditional packaged ice cream on a global level has stagnated, with only +0.9% growth in the first eight months of the year, the vegetable ice cream segment has grown faster, recording a +4.3% in volume.
"This is mainly due to the performance of Valsoia, whose consumption has grown by 7%," continues the CEO. "Valsoia now has a market share of 75% in volume and 77% in value growth in vegetable ice cream.

Other top-selling products include Piadina Loriana - acquired three years ago - and Diete.Tic. "Loriana is the second largest brand by value rotation in the long-shelf-life piadina market," says Panzani, "and has seen sales grow by 50% since the acquisition. We are gradually improving our market share by also starting distribution abroad'.