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Chinese Beyond Meat rival launches plant-based pork and crayfish to feed the home-market appetite

Chinese Beyond Meat rival launches plant-based products

Field Notes, powered by KPMG, is a weekly news update on news nationally and globally from the agri-food sector.

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Ian Proudfoot

Global Head of Agribusiness, Partner - Audit

KPMG in New Zealand

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[18 June, Arjun Kharpal, CNBC]

Chinese company Zhenmeat has released plant-based pork and crayfish. The move comes after Beyond Meat entered the Chinese market in April, with competition heating up. Zhenmeat’s CEO Vince Lu stated that the company has an advantage due to the fact it can play to local tastes. China is the world’s largest consumer of pork and one of the biggest of crayfish. The pork tenderloin is made of pea and soy protein and covered in a layer made of sweet potato starch. The crayfish is made from seaweed and konjac extracts. Mr Lu states that one issue with large consumption of crayfish is that it creates a lot of food waste, as 10 kilograms of crayfish only creates around 1 kilogram of crayfish meat. China’s plant-based meat market is starting to take off, and Mr Lu reports that the Covid-19 pandemic has changed people’s views towards plant-based food. 

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