Sizzling sensation: Alibaba, Beyond Meat and Danone rooting for plant-based innovation in China
China’s alternative meat market has grown from its traditional imitation products to a more modern, realistic and meat-tasting profile powered by innovation – and now some of the industry’s biggest names are ploughing in resources to fuel the next wave of product developments.
According to Euromonitor International, sales of plant-based meat in China grew from US$7.2bn in 2014 to US$9.7bn in 2018, at an annual growth between 13 to 15%. The growth is not expected to slowdown anytime soon.
A Mintel survey found 70% of consumers in China were interested in reducing their meat consumption. Shirley Lu, executive director, Greater China at food awareness organisation, ProVeg International said this was attributed to growing health consciousness among Chinese consumers.
Energy boost: Original Red Bull makers to boost presence in China and develop new functional products
Thailand’s T.C. Pharmaceutical Industries Co. Ltd (TCP), the original inventor of the Red Bull brand and trademark globally, is accelerating its presence in China with a mega investment of RMB1bn (US$150m).
Globally, Red Bull dominates the energy drink industry (30%), followed by Monster (20%) and TCP (11%). However in China, TCP’s Red Bull dominates at 80%, according to Chinese firm Daxue Consulting.
China milk momentum: Growth in awareness attributed to public belief in immunity benefits
Local acceptance of milk and dairy products in China has rocketed over the past year, driven by some 96% of the population believing that dairy consumption can help improve immunity.
These findings were announced as part of the 2020 China Milk Quotient report, which was launched by the China Dairy Industry Association (CDIA), China International Exchange and Promotive Association for Medical and Health Care (CPAM) and Friesland-Campina.
The Milk Quotient is a metric that measures the receptiveness, acceptance and awareness of the Chinese public to dairy and dairy products, implying a potential corresponding rise in demand. It was conducted via surveys performed in 27 cities across the country.
Dairy victory: China’s new acceptance of whey permeate imports a display of industry triumph
China recently announced new standards for dairy permeate imports, a first for the country and a prime example of how an industry can leverage resources to overcome regulatory challenges, according to a China trade regulations expert.
The new dairy (whey) permeate import standards were announced by China’s National Health Commission (NHC) last month and prescribed the detailed technical requirements of dairy permeate powders exported to China.
China Food Tech Hub adds Nestle, Ajinomoto and Barilla’s Blu1877 to 15-member food innovation consortium
The China Food Tech Hub, which aims to forge close ties between MNCs and start-ups, is adding three new members to its consortium this year, including big names such as Nestle, Ajinomoto and Barilla’s Blu1877.
Established by Chinese venture capital firm Bits x Bites last year, the consortium currently has 15 members and aims to nurture collaboration between start-ups and multinational companies ranging from consumer foods, animal feed, flavours, ingredients to agricultural processing.