What if China was a Colonial Superpower?
American manufacturers of artificial meat targeting the Chinese market will face competition with local companies already developing similar production to gain a share of the lucrative market.
The meat substitute industry in China has attracted business and public attention in recent months. Traditional food companies and investors are betting that Chinese consumers, who are often very enthusiastic about new technologies and trends, will love vegetable protein as much as Americans..
The swine epidemic and the negative effects of the trade war that have driven the rise in meat prices can also play a significant role in the popularity of meat substitutes..
Among the new players on the market, names such as Zhenmeat and Starfield have already appeared..
Ham maker Jinzi Ham noted that the company’s share price skyrocketed 50% a week after the announcement of the start of sales of meat made from vegetable protein and developed with Danisco (China) Investment, a division of the US firm DuPont..
Local firm MYS Group also announced that it is conducting research on similar products..
It’s worth noting that most Chinese companies don’t make burgers, instead focusing on local specialties like dumplings, moon cakes, or meatballs..
Zhenmeat is marketed by Chinese state media as the country’s response to Beyond Meat. The company uses meat made from pea-based protein in its moon cakes..
Zhenmeat co-founder Vince Lu said the company, which has partnered with noodle maker Yantai Shuangta Foods, is exploring the possibility of producing meatballs and dumplings..
Whole Perfect Food, which has mainly catering to mostly vegetarian Chinese Buddhists for the past 20 years, has recently launched a range of sausages made with soy and pea protein.. Sausages have 40 varieties.
A company spokesman said that they are open to work with foreign colleagues.. The firm previously had a trial partnership with Walmart, which has now ended. However, at the moment Whole Perfect Food is cooperating with the Hema chain of the Alibaba Group holding and the retailer Yonghui Superstores.
The Chinese alternative meat market has grown 33.5% since 2014 to $ 9.7 billion last year. According to forecasts, by 2023 this industry will be worth about $ 12 billion..
Impossible Foods has identified mainland China as its number one overseas market for future expansion and believes their main product (burger) can be easily adapted for the Chinese consumer market..