FOODTALK
Five Takeaways for China’s Plant-based Meat Market in 2020
BY Shine HuJan 21, 2021
Plant-based meat was a hot cake in the investment sector in 2020. Large catering chains successively introduced plant-based meat menus, spanning from pasta to spring rolls, salads, pizza, burger, and fried chicken nuggets. International companies including Unilever, Nestlé, and Cargill have all embarked on the Chinese plant-based meat market. More diversified types of plant meat products appeared in China's plant meat market, and the trend towards Chinese-style is becoming prominent. Chinese consumers are mainly attracted by plant-based meat for healthy and low-fat reasons.
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Plant-based meat has become an emerging category that is growing rapidly in the Chinese market. Specifically, in the past 2020, the battle for plant-based meat in China was heating up because of international giants’ participation, dozens of investment and financing, as well as waves of new product releases.

We at ChemLinked will guide you through reviewing the Chinses plant-based meat market performance in 2020.

1. Substantial capital support

Plant-based meat was a hot cake in the investment sector in 2020. STARFIELD is a local plant-based meat company founded in 2019. It obtained three rounds of financing within seven months, becoming the highest-funded plant-based meat brand in China.

TimeCompanyFinancing roundInvestors
2020.03STARFIELDAngel JOY Capital, MatrixPartners China, New Crop Capital, Dao Foods International
2020.06Zhen MeatSeed+Big Idea Ventures
2020.07VestaStrategicXuerong Biotechnology
2020.08STARFIELDSky9 Capital, JOY Capital, MatrixPartners China
2020.08Hey MaetAngelShuangta Food, UpHonest Capital, Tiantu Capital
2020.09Green MondayStrategicThe Rise Fund, Swire Pacific Limited
2020.10STARFIELDA+Lightspeed China Partners, Sky9 Capital, JOY Capital, MatrixPartners China
2020.12Hey MaetPre-AWelight Capital, Junsan Capital

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Shine Hu
ChemLinked Research Analyst
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