Dumplings, steamed buns and more on the menu for v2food Chinese market play

Dumplings, steamed buns and more on the menu for v2food Chinese market play

Australian plant-based food maker v2food has signed some key partnerships with Chinese manufacturers and a food content service platform in a bid to win over the giant Asian market.

Just months after announcing its entrance into China, v2food is taking steps to localise its offering, launching the local production of new products targeted at the population including dumplings, steamed buns, lasagna and pork rolls.

Headlining this push is a partnership with Shuhui, one of China’s largest steamed bun manufacturers which boasts 30,000 distribution points across the country.

In addition, the Australian company has welcomed a collaboration with Dong Chi, a leading manufacturer of weight management ready meals, serving more than 200,000 members per month.

Duoguo, China’s first domestic food content service platform, has also signed on as a strategic partner with v2food. The platform has 62 million active users per month and almost 400 million downloads to date, allowing the plant-based foods maker to tap into a vast pool of consumers experimenting with new recipes.

“We are committed to delivering delicious, culturally-relevant plant-based protein options to consumers all over the world, and our new partnerships are an exciting platform to further connect with Chinese consumers and bolster our global competitiveness,” v2food founder and CEO Nick Hazell said.

“China is the world's largest consumer of meat, so it’s a very important market for us. As a global player, ensuring we align with like-minded partners is important to us as an organisation.

“We share our new partners’ ambition to build a better food future while paying homage to China’s rich heritage of Asian cuisine.”

Fuelled by rising incomes, meat consumption in China has grown significantly. Today, China consumes 28 per cent of the world’s meat, including half of all pork, with the average Chinese person now eating 63kg of meat a year.

"Plant-based meat in China presents huge market potential. As Chinese living standards rise and consumption patterns shift, Chinese meat consumption demand has been continuously increasing, accounting for a quarter of global meat consumption,” v2food China general manager Cyrus Pan said.

“v2food understands this need for more protein, and in response, has worked closely with Chinese butchers and chefs to develop great-tasting bespoke pork, designed for the Chinese palette.

“v2 is the perfect choice for local partners looking to diversify their consumer offerings with a tasty plant-based alternative while staying true to cuisine that’s culturally relevant.”

These latest developments come after v2food closed a $72 million Series B Plus funding round in August this year, giving the company capital to make its push into China.

The raise, led by European investment fund Astanor Ventures, followed the company's $77 million Series B completed in October 2020, bringing the company's total funds raised to $185 million.

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Four ways businesses can use artificial intelligence to triumph in 2022
Partner Content
The last two years have delivered major disruption to the technology industry and broad...
PROS
Advertisement

Related Stories

v2food closes $72 million funding round, expands into China

v2food closes $72 million funding round, expands into China

Australian plant-based protein company v2food has today announced...

Neil Perry embraces plant-based meat with v2food partnership

Neil Perry embraces plant-based meat with v2food partnership

Celebrity chef Neil Perry's new restaurant in Sydney's Do...

Australian demand for plant-based meat surges

Australian demand for plant-based meat surges

Demand for plant-based alternatives to meat grew exponentially in...

v2food to take plant-based meat global with $77m Series B

v2food to take plant-based meat global with $77m Series B

Plant-based meat manufacturer v2food hopes to take its product to...