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· Beyond Meat to Build Factories Near Shanghai in Major China Push
· Beyond Meat signs production agreement in China
Beyond Meat to Build Factories Near Shanghai in Major China Push
Rachel Chang, Bloomberg
September 8, 2020
U.S. plant-based burger and sausage maker Beyond Meat Inc. is building two production facilities in China’s eastern province of Zhejiang in its biggest push yet to enter the Chinese market for alternative protein.
The facility, to be located in the Jiaxing Economic and Technological Development Zone that’s close to the megacity of Shanghai, is expected to start trial production “within months, with full scale-production in early 2021,” according to a company statement Tuesday.
The move makes it the first foreign plant-based protein maker to establish a major production facility in China, the company said. It also gives Beyond Meat an edge over rival Impossible Foods Inc., whose “magic ingredient” of heme -- made from genetically modified yeast -- requires government approval in China.
Both are hungrily eyeing the Asian giant, which accounts for 27% of the world’s meat consumption by volume, especially now that the coronavirus pandemic has essentially destroyed restaurant sales in the U.S. Other plant-based alternatives makers already have a Chinese presence, including Oatly AB and Eat JUST Inc., a vegan egg company.
The recent outbreak of African Swine Fever in China has driven up the price of pork and primed consumers for alternatives...
Beyond Meat signs production agreement in China
By Dee-Ann Durbin, Associated Press
via Star Tribune (MN) - September 8, 2020
Beyond Meat will begin making plant-based meat in China later this year under an agreement announced Tuesday.
The El Segundo, California-based company said it will be the first multinational company focused solely on plant-based meat production to open a factory in China. Swiss food giant Nestle is also building a plant-based meat production facility in China, but it makes other products there.
Beyond Meat is partnering with the Jiaxing Economic and Technological Development Zone — about 75 miles from Shanghai — to design and develop two manufacturing facilities. Trial production will begin later this year, with full production expected in early 2021.
One of the facilities will be the world's largest plant-based meat factories, Beyond Meat founder and CEO Ethan Brown said in a statement.
"China is one of the world's largest markets for animal-based meat products, and potentially for plant-based meat," Brown said.
Beyond Meat products made their Chinese debut in April at Starbucks...