Greetings from Shunyi Tech Development Zone for Tuesday 22nd September 2020.
Today we have an update on our last story on the artificial meat saga currently running in China. We commented that the still raging fires of health and fitness may be behind the drive of some of the fast food companies to jump on the fake meat wagon.
We noted too that “Beyond” were moving to start their own China production facilities, adding to the pressure.
Today we link to two other stories, both courtesy of Caixin Global, one concerning the other US fake meat provider, “Impossible Foods” who are still waiting for official permission to market in China. The issue facing Impossible is not so much the Chinese red tape and tortoise like progress, but rather their product contains GM [ genetically modified] soy which is currently strictly regulated in China.
With “Beyond’s” local production plans, this is going to add stress to “Impossible.” However, given the craze for healthy foods and living in China which shows no sign of abating, we feel it is going to take some fairly heavy, hard hitting marketing to convince “Impossible’s” potential customers to buy their GM product which Chinese could well see as unhealthy.
We are quite sure their competitors are going to make the most of exploiting their non GM, healthy product. Frankly, the fact that Impossible has the Chinese Gvt tick of approval is – probably- in our view, not going to cut much ice with Chinese consumers.
Meanwhile, on a slightly related theme, Yum Brands- owner of KFC among others recently filed for a second HK IPO listing, but the demand has been more of a snack than banquet. Could it be that investors too are seeing the rise of healthy living and China, Covid fear declining restaurant patronage as maybe the writing on the wall for the once was booming takeaway and fast food market in China? Love to have your feedback and opinion.
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In 2003 Everlyne Yu co-founded WPBeijing Marketing Studio with Englishman Peter Bic, now known as Bic Brands.
She began Uengager, a company focused on customer engagement, as a SaaS MarTech company in 2017.
Hello, Nihao, I’m Everlyne
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