Plant-based meatballs produced by Zhenmeat. Meat substitutes are becoming more popular as Chinese middle class consumers find themselves with more money to burn. Photo: Reuters
Home-grown start-ups join global giants in race to tap China’s plant-based alternative meats market as middle-class appetite for healthier food grows stronger
- The nation’s meat substitutes retail market grew at an average 7.7 per cent to US$10 billion last year from 2015 as Chinese average disposable incomes have climbed
- One newcomer, Singapore-based Green Planet Foods, aims to invest billions of US dollars in the next five years in the nascent sector in China
Plant-based meatballs produced by Zhenmeat. Meat substitutes are becoming more popular as Chinese middle class consumers find themselves with more money to burn. Photo: Reuters
