Impossible Foods, a California-based manufacturer of plant-based meat substitutes, is actively working to accelerate its presence in China, considering China the number one priority in all foreign markets. The company has already presented its products in Hong Kong and Macau and is shipping to 450 restaurants in Asia, but wants to expand its presence on the mainland parts of China where meat production is difficult due to chronic land and water shortages.
The head of Impossible Foods, Patrick O. Brown, said that the company had held preliminary negotiations with potential partners and hoped that local authorities would support the introduction of technology for the production of plant-based meat analogues in China after the company completed the necessary regulatory processes. China is our top priority for future expansion. It is the largest meat consumer in the world. About half of the world's meat consumption growth over the past 10 years or so has occurred in China. In fact, the place where we can have the greatest impact on our mission located in China, Brown noted.
Impossible Foods' main competitor (Los Angeles-based Beyond Meat) is also interested in promoting China. However, foreign companies will face competition from local companies offering similar products, such as Whole Perfect Foods from Shenzhen. Brown noted that ultimately Impossible Foods plans to move part of its production to Asia, and the company is already looking for potential facilities.
Although meat consumption per capita in China is actually much lower than, say, in the United States, demand is growing. Before the situation with ASF, China produced about 54 million tons of pork per year, which is about half the world’s volume. China's beef production also rose to its highest level in the past 20 years last year (6.44 million tons), imports also increased. China buys about 60% of global soybean production to feed pigs and other animals.
The Chinese government is trying to solve the environmental problems caused by animal husbandry by closing or moving a large number of poorly managed pig farms and poultry farms. The State Chinese Food Society even tried to encourage the population to eat less meat and dairy products, but with modest success.
Source: meatbranch.com.
