Plant-based meat is trying to make inroads into the culinary habits of China consumers. Business analyst Shaun Rein sees a fast-growing market, but starting from a pretty low base, he explains to the BBC, based on recent research from his consulting company.
Shaun Rein, managing director of the China Market Research Group in Shanghai, says the market is still small but there is potential, given the open-minded nature of Chinese cookery and a willingness of shoppers to experiment.
“Chinese consumers are indeed always looking for alternative sources of protein. We think the market for plant-based meat is about $910m (£730m) and will grow about 20-25% annually. There’s a lot of excitement about these ‘fake’ meats, but the market is fairly small.”
But price is a big driver when it comes to long-term change, he adds. “When we interviewed blue-collar workers one of their main concerns was the price. The big winner could be ‘fake’ meat, or it could be seafood.”
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