Vegan Food Market Booms In China As COVID-19 Disrupts The Meat Industry
The vegan food market in China is on track to be valued at $12 billion, as consumers increasingly turn away from meat amid the pandemic.
Interest in meat-free proteins has boomed since a wet market in the country was investigated as the source of COVID-19.
In addition to the coronavirus pandemic, an outbreak of African Swine Fever caused pork shortages this year, fueling interest in plant-based alternatives.
The forecast for a value of $12 billion by 2023 is a huge leap from the $10 billion value the Chinese vegan food industry had just two years ago.
“Transform The Traditional Food Industry”
“We believe that plant-based meat, as a new food technology, will transform the traditional food industry like the internet transformed traditional industries,” said Zhou Qiyu, Marketing Manager of vegan company Whole Perfect Food.
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Vegan Food In China
Last month, vegan brand Beyond Meat launched its products in China for the first time, debuting initially at 50 Freshippo stores in Shanghai.
“Preparing For The Worst”
“Although people are now returning back to the normal routine after Covid-19, consumers are concerned about the potential link between meat products and the virus,” said Matilda Ho, founder of food tech venture capital firm Bits x Bites.
“Some are reducing their meat intake as a result. Many are preparing for the worst to come again.”
Do you think interest in vegan options in China will continue to grow? Share your thoughts with us in the comments below!
Tags: African Swine Fever, China, Chinese, consumer behavior, coronavirus, COVID-19, food technology, meat-free, Plant-Based Meat, plant-based proteins, vegan food, vegan food market