Fungus-based meat may become a new choice for China’s meat lovers as Xuerong, a leading fungus supplier in China, has recently invested in fungus-based meat substitutes.
The company has over 20 years of experience in China’s fungus market, and, in July, it announced that it will invest 14 million RMB into Vesta Food Lab, a Beijing-based food technology company dedicated to producing plant-based meat.
Xuerong will also work with a Chinese snack company with a registered capital of 10 million RMB to focus on the research and development, production, and sales of plant-based protein snacks.
More and more Chinese companies are tapping into the growing plant-based meat market as COVID-19 has further accelerated Chinese consumers’ pursuit of healthier diets.
Ramen Talk, a Chinese noodle brand, recently launched a product featuring a plant-based meat sauce. The first batch of 20,000 packages sold out in just one minute of the product’s release via livestream on Tmall.
For more about how brands are appealing to China’s health conscious consumers, check out our case studies on Earth Day campaigns and smoothie brand Innocent’s entry into China.