U.S. artificial meat brand Beyond Meat is about to land in China

Reporter January 19 from the China Plant Food Industry Alliance was informed that “artificial meat listed the first share” Beyond Meat officially joined the alliance. Union Secretary-General Xue Yan revealed that Beyond Meat plans to land in the Chinese market in the first quarter of this year, is currently in an emergency import food-related approval process, online sales channels are expected to be ahead of Shangchao.

U.S. artificial meat brand Beyond Meat is about to land in China

Xue also said that the United Kingdom’s Quorn, the United States Beyond Meat and other artificial meat brands are accelerating the action to seize the Chinese market. Domestic artificial meat enterprises should practice their internal skills, in order to share with foreign brands.

Will be “imported food” landing in the Chinese market

Beyond Meat is understood to be a leading brand of artificial meat in the United States, founded in 2009. Behind them are celebrity investors (5.66, -0.15, -2.58%), Microsoft (167.1, 0.93, 0.56%) founder Bill Gates, american star Leonardo DiCaprio, Coca-Cola (56.94, 0.12, 0.21%) Group CFO Kathy Waller and Twitter (34.22, 0.03, 0.09%) CFO Ned Segal et al. In May 2019, the company listed on the Nasdaq (9388.944, 31.81, 0.34%), and on the day of the listing, its share price jumped 163 percent and led the Chinese meat-making concept sector.

The company sells burgers made from artificial meat, sausages, croissed beef and minced meat, with the most popular product being man-made meat burgers. Among them, a model called Beyond Burger 2.0, the improved formula makes the burger “more meaty” and “more juice.”

OverMeat has been looking for partners around the world for the past two years. On January 8th McDonald’s (211.98, 1.13, 0.54%) announced an expansion of its partnership with Meat to expand its pilot stores for Canadian man-made meat burgers from 28 to 52 and extend the pilot period for another three months, according to media reports.

Meanwhile, Beyond Meat’s biggest rival, Impossible Foods, has suspended co-operation talks with McDonald’s over “capacity issues.” If McDonald’s launches nearly 14,000 stores in the U.S., it could sell more than 250 million them a year, according to an agency analysis.

Beyond Meat has also taken a series of moves against the huge Chinese market.

On January 19, the Beijing News learned from the China Plant Food Industry Alliance that Beyond Meat officially joined the alliance. The alliance’s secretary-general, Xue Yan, revealed that Beyond Meat plans to land in the Chinese market in the first quarter of this year and is urgently reviewing the imported food-related process. “Beyond Meat has no office in China, and its current links with the company are directly linked to its U.S. headquarters, and Meat will enter the Chinese market as an imported food product, with online sales channels expected to be ahead of Merchants. Xue Yan said.

U.S. artificial meat brand Beyond Meat is about to land in China

Artificial meat group standards will be introduced in the first half of this year

The Beijing News noted that Beyond Meat has also made progress in working with Chinese companies. On January 15, the Beyond Meat delegation came to Yantai Twin Towers Food Co., Ltd. (“Twin Towers Food”) to discuss cooperation, and to visit the science and technology research and development, production, quality management and so on.

Shuangta Foods is China’s pea protein raw materials manufacturers, listed on the Shenzhen Stock Exchange in September 2010, its famous products have Longkou fans. Shuangta Foods said that during the inspection, the two sides introduced each other to the company profile, the future development direction and planning of plant protein meat exchanges, the future two sides will strongly join forces to seek common development of a new situation.

According to a new report by Kearney Global Management Consulting, the global market share of “artificial meat” will reach 60 per cent by 2040, 25 per cent of which will be plant protein meats, which are dominated by plant-based alternatives. Faced with such a large market in China, some of the more well-known artificial meat brands are planning to land in the Chinese market. “According to incomplete statistics, the United Kingdom’s Quorn, the United States Beyond Meat and other brands are accelerating the move to seize the Chinese market. Xue Yan said.

At the same time, many domestic enterprises are also stepping up the layout of the artificial meat market. According to media reports, domestic artificial meat company Rare Meat is expected to raise about $2 million in the near future for market development to counter potential challenges from foreign competitors.

In view of the phenomenon of foreign artificial meat brands accelerating their presence in the domestic market, how should Chinese enterprises deal with it? Xue Yan believes that consumer recognition is the most important, domestic enterprises themselves have a certain local advantage, there is no need to follow the trend of foreign enterprises. At present well-known these enterprises to do artificial plant meat development and innovation time is more than 10 years, domestic enterprises if not good practice, want to find a shortcut I am afraid is not good to deal with.

Up to now, China Plant Food Industry Alliance has 160 member units, of which as many as 18 listed companies. Mr Xue said that in the future, apart from actively attracting full members, the Alliance would also build a whole industry chain information network for plant-based food through the member partnership programme to promote close co-operation among member organizations.

In addition, the “Plant Meat Industry/Group Standards” will be introduced in the first half of 2020, led by the Alliance and jointly promoted by domestic and foreign head-made meat enterprises. Earlier, Wang Shouwei, director of China’s Comprehensive Meat And Food Research Center, told the Beijing News in an interview that the national standard for artificial plant meat will be launched in 2019 and will be officially established in 2020.