Last Friday, Australian plant-based meat company v2 foods announced that it had expanded its ties within the Chinese market. v2 foods have secured four strategic partnerships in China, including with one of the country’s largest steamed bun manufacturers.
v2 food
Founded in Australia in January 2019, v2food’s mission is to “produce tasty, sustainable food for both people and the planet”. Working with top Australian scientists from CSIRO, v2food developed a unique plant-based protein that looks, cooks, and tastes like conventional meat.
The Australian company’s “meat” is made from legumes that look and taste just like meat, with added fibre and nutrients. The product is the basis of the Hungry Jacks Rebel Whopper and is available in supermarkets as mince, burger patties, and sausages.
v2food first announced its move into both the Chinese and European markets in June 2021. Nick Hazell, v2food founder and CEO, said, “We are committed to delivering delicious, culturally-relevant plant-based protein options to consumers all over the world, and our new partnerships are an exciting platform to further connect with Chinese consumers and bolster our global competitiveness.”
Chinese market
China’s meat consumption has risen significantly in recent times, fuelled by rising incomes. The average Chinese person is now eating 63kg of meat a year. With a population of almost 1.5 billion, China consumes 28% of the world’s meat, including half of all pork.
“China is the world’s largest consumer of meat, so it’s a very important market for us,”said Mr Hazell. “As a global player, ensuring we align with like-minded partners is important to us as an organisation. We share our new partners’ ambition to build a better food future while paying homage to China’s rich heritage of Asian cuisine.”
Importantly, the new partnership includes one of China’s largest steamed bun manufacturers, Shuhui. Shuhui boasts an impressive 30,000 distribution points across China. Several of v2’s specialised Western-style ready meals products will become available to Chinese consumers via Food Vending, including plant-based lasagne and sausage rolls.
v2food has welcomed collaboration with Dong Chi, a service that provides weight management ready meals. Dong Chi serves over 200,000 members per month. In addition, Duoguo, China’s first domestic food content service platform, has also signed on as a partner. The platform has 62 million active users per month, with almost 400 million downloads to date, allowing v2 to reach a massive pool of Chinese consumers wanting to experiment with new recipes.
Cyrus Pan, General Manager of v2food China, said, “Plant-based meat in China presents huge market potential. As Chinese living standards rise and consumption patterns shift, Chinese meat consumption demand has been continuously increasing, accounting for a quarter of global meat consumption.
“v2food understands this need for more protein, and in response, has worked closely with Chinese butchers and chefs to develop great-tasting bespoke pork, designed for the Chinese palette. v2 is the perfect choice for local partners looking to diversify their consumer offerings with a tasty plant-based alternative while staying true to cuisine that’s culturally relevant.”
Read more:Australian plant-based meat startup secures $77m of funding
Read more:v2food makes supermarket debut in Drakes
Keep up to date with our stories on LinkedIn, Twitter, Facebook and Instagram.
