Beyond Meat vs Zhenmeat: The battle for China's meatless market
U.S. plant-based “meat” makers targeting China like Impossible Foods and Beyond Meat Inc will need to battle homegrown rivals which are developing local favorites such as dumplings and mooncakes to nab a share of the lucrative market.And:
China’s meat substitute industry has seen a surge in interest in recent months, with startups, traditional food businesses and investors betting trend-loving Chinese consumers will take to plant-based protein like their U.S. counterparts.
A devastating pig disease and bruising Sino-U.S. trade war that have combined to push up meat prices are also playing a role.
Among the new players are names like Zhenmeat and Starfield, while long-time plant-based companies including Whole Perfect Food are rolling out new products.
Ham producer Jinzi Ham saw its share price soar 50% in a week after it announced in October it would start selling meat made out of plant protein that it developed with Danisco (China) Investment, a unit of U.S. firm DuPont....MUCH MORE
Factbox: Who is doing what in China's plant-based meat business