About 1 year from Beyond Meat Debut in China On the Starbucks menu, a California plant-based protein company could open a production facility near Shanghai and leverage the country’s supply chain resources to reduce carbon dioxide emissions in its products.
The Nasdaq-listed company said Wednesday that the plant, located in Jiaxing, 85 kilometers from Shanghai, is Beyond Meat’s first end-to-end manufacturing facility outside the United States.
Over the past year, the entry of foreign companies such as Beyond Meat and Beyond Meat has intensified competition in China’s alternative protein sector. Just eatAlso includes numerous capital injections for domestic startups such as Hey Maet and Starfield.
Beyond Meat doesn’t seem to be hampered by rivalry. When asked to comment by TechCrunch story Regarding China’s alternative protein scene, a company representative said, “Nothing Beyond Meat considers to be a competitor.”
China does not only have a huge and unsaturated market for meat substitutes. It is also a major supplier of plant-based proteins. From the beginning, Chinese meat-replacement startups have a cost advantage and are not lacking in interest from competing investors to favor consumer goods that better reflect the rise of the middle class.
Therefore, having some manufacturing capacity in China is almost a prerequisite for serious foreign players. Tesla has previously built a Gigafactory in Shanghai to offer cheaper electric vehicles. Localized production shortens the supply chain and helps companies move their sustainability goals forward.
In Beyond Meat’s own words, Jiaxing Facility “expects to significantly improve the speed and scale at which the company can produce and distribute products in the region while improving Beyond Meat’s cost structure and business sustainability. It has been”.
The American food technology giant is committed to localization, selling both its flagship hamburger patties and imitation minced pork products specially made for the world’s largest pork consumers. Minced pork, based on soybeans and rice, can be used in a variety of Chinese dishes and is the result of a collaboration between the company’s Shanghai and Los Angeles teams.
In addition to production, the Jiaxing Factory is also responsible for research and development to invent new products for the region. Beyond Meat will also announce its first manufacturing facility in Europe this year.
Ethan Brown, CEO and Founder of Beyond Meat, said: “We believe this new manufacturing facility will help improve pricing and sustainability indicators as it aims to provide Chinese consumers with good tasty plant-based proteins for both humans and the planet. I am. “
Beyond Meat products can now be found in Starbucks, KFC, Alibaba’s Hema Supermarket, and other retail channels in major cities in China.
Beyond Meat opens its first production plant in China – TechCrunch Source link Beyond Meat opens its first production plant in China – TechCrunch