In this file:

 

·         Beyond Meat launches plant-based minced pork in China

·         International Plant-Based Food Companies Eye U.S. Market For Exponential Growth

 

 

Beyond Meat launches plant-based minced pork in China

 

By Michelle Toh, CNN Business

November 18, 2020

 

Hong Kong (CNN Business)Beyond Meat (BYND) is launching a plant-based version of China's favorite meat.

 

The California-based company unveiled its latest product on Wednesday: meatless minced "pork."

 

The new product is intended to mimic the taste of the popular filling used in many Asian dishes, such as dumplings and spring rolls. Beyond says customers will be served its rendition as a ramen topping, and in dishes such as spaghetti and meatballs, spicy bolognaise, and biscuits and gravy. (The company has made plant-based pork before, though in the form of a sausage product.)

 

Starting Wednesday, customers in Shanghai will be able to try the new product at five local restaurants for a limited time.

 

"We're excited to launch Beyond Pork in China, marking a milestone for Beyond Meat," Candy Chan, the company's general manager for China, said in a statement. "We are not only launching an entirely new product innovation, but our first plant-based meat product created specifically for the Chinese market."

 

She noted that the product's "exclusive debut in China furthers Beyond Meat's commitment to this important market."

 

Beyond's latest introduction could come as a welcome alternative for Chinese consumers, especially right now.

 

China, which has long been the world's biggest consumer of pork, entered a major production crisis last year due to an outbreak of African swine fever. The disruption forced some consumers to temporarily switch to other types of meat.

 

Before that, pork had accounted for about 70% of China's overall meat consumption, according to official Chinese data.

 

This year, Chinese pig farmers have seen some recovery, allowing them to boost supply and ease prices, analysts at Rabobank wrote in a recent research report.

 

But globally, "producers face a challenging outlook, given rising feed costs, weaker economic trends, and slower export growth as China rebuilds its domestic hog supply," they wrote.

 

Battle over China ...

 

more, including links

https://www.cnn.com/2020/11/18/business/beyond-meat-china-intl-hnk/index.html

 

 

Beyond Meat Tries To Do The Impossible: Get China To Embrace Faux Pork

 

Shivdeep Dhaliwal, Benzinga

November 17, 2020

 

Beyond Meat Inc has started to sell its plant-based minced pork in China as it marks an expansion into Asia amid growing demand for its faux meat products, Reuters reported Tuesday.

 

What Happened: The minced pork named — Beyond Pork — will be sold in five popular restaurants in Shanghai initially, according to Reuters.

 

China is reportedly increasing focus on food security amid the COVID-19 pandemic that has impacted meat supply from international sources.

 

The Los Angeles, California-based alternative-meat company made its retail debut in China in partnership with Jack Ma's Alibaba Group Holding Ltd in June...

 

more

https://www.benzinga.com/news/20/11/18420434/beyond-meat-tries-to-do-the-impossible-get-china-to-embrace-faux-pork

 

 

International Plant-Based Food Companies Eye U.S. Market For Exponential Growth

 

Douglas Yu, Contributor, Forbes

Nov 18, 2020

 

Just as home-grown plant-based heavyweights are actively expanding their footprints abroad, their international counterparts are also entering the U.S. at an accelerated rate, eying opportunities in the country’s fast-growing vegetarians and flexitarians.

 

Markets and Markets estimated the sales value of the U.S. plant-based meat market to be $12.1 billion by 2019, and expected it to reach $27.9 billion by 2025, growing at a 15% CAGR during the forecast period.

 

While the ongoing pandemic is driving more consumers with concerns about environmental damage and animal cruelty to opt for plant-based alternatives, continuous efforts in perfecting the aroma, texture, and nutritious profiles of vegan meat are projected to further escalate the growth of the category, the market research firm notes.

 

Modern Meat, which was launched about two years ago in Canada and recently went public, says it plans to expand into a Los Angeles-based facility after experiencing significant revenues growth.

 

The facility will help co-pack for Modern Meat’s current products, including Modern Crumble, Modern ‘Crab’ Cakes, Meatballs, and sauces, and is expected to eventually complete the company’s domestic distribution.

 

“I feel like the whole West Cost does have that specific type of lifestyle that people want more plant-based foods; they are early adapters for [these products],” Modern Meat’s founder and CEO, Tara Haddad, recently told me via a Zoom call.

 

“We think our growth will be exponential… and we’re projecting more than $20 million in revenues [once our expansion is complete],” Haddad said, adding extra sales will also come from the food service sector as many U.S. mid-level restaurant chains are incorporating Modern Meat into their menus.

 

Lifestyle company with heathy products ...

 

R&D process: ‘It doesn’t have to simulate meat 100%’  ...

 

more

https://www.forbes.com/sites/douglasyu/2020/11/18/international-plant-based-food-companies-eye-us-market-for-exponential-growth/