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Beyond Meat vs Zhenmeat: The battle for China's meatless market


Added 11-18-19 08:03:02pm EST - “U.S. plant-based "meat" makers targeting China like Impossible Foods a...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Beyond Meat vs Zhenmeat: The battle for China's meatless market”. Below is an excerpt from the article.

BEIJING/SHANGHAI (Reuters) - U.S. plant-based “meat” makers targeting China like Impossible Foods and Beyond Meat Inc (BYND.O) will need to battle homegrown rivals which are developing local favorites such as dumplings and mooncakes to nab a share of the lucrative market.

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 (002515.SZ) 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 (DD.N).

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