“Beyond Meat” lands in China for the first time
Beyond Meat (BYND-US), a plant-based artificial meat company established in 2009, announced on Tuesday that they have reached an agreement with Alibaba (BABA-US) to sell their product “Beyond Burgers” through Freshippo (HEMA), a retail store brand backed by Alibaba in China, supplying local enterprises like Starbucks (SBUX-US), Yum China KFC, Taco Bell and Pizza Hut.
Beginning this weekend, consumers will be able to buy Beyond Meat’s plant-based hamburger meat in 50 Freshippo supermarkets located in Shanghai.
This will be the first time Beyond Meat products enter the Chinese supermarket, and it will also be supplied to 48 Freshippo supermarkets located Beijing and Hangzhou. Before September this year. “Beyond Burgers” will also be available to purchase on Freshippo’s mobile app.
In “Global Meat Substitute Market (2018–2023)”, MarketResearchFuture predicted that by the year 2023, the global artificial meat market will reach 6.1 billion USD.
In addition, Barclays said that in the next 10 years, as emerging companies accounting for 10% of the 1.4 trillion USD meat market, the global market size of artificial meat may reach 140 billion USD.
