Despite being the world's biggest meat consumer, China is looking to diversify its diet with more plant-based products to ensure better food security in the future. Tapping into this, Eat Just is pivoting into the market with a range of plant-based food and alternative protein.
Californian start-up Eat Just – which makes plant-based foods including bean-based eggs and cultivated meat made from real animal cells – is rolling out into China. It has received $25 million from private equity firm C2, which has retail giant Alibaba as its major investor – providing invaluable knowledge and insight into the Chinese market. The move comes as the Chinese government, alarmed by the state of long-term food security in the country, urged research and development around cell-cultivated meat and recombinant proteins. “It is widely accepted that the alternative protein sector can play an important role in achieving China’s goal of carbon peaking and neutralisation,” says Steve Lin, C2’s managing partner.
Although China is widely known for high meat consumption, there are signs that parts of the population might be warming up to eating alt-meats. In 2021, 75% of Chinese consumers said they wanted to eat more healthily, and the Chinese plant-based meat market is projected to hit $11.9 billion by 2023. This means brands can win over consumers by offering a variety of plant-based food, including meat and other protein-rich products, that would meet both their taste and health expectations. Beyond Meat, for example, has a production plant in China that creates burgers, sausages, and meatballs for local consumers and has been praised for its close mimicry. A close focus on local tastes and traditions could further accelerate the acceptance of meat alternatives in new markets.