Food manufacturers ranging from startups to the world’s largest meat companies are competing to take a share in the plant-based meat segment. Not long ago, Sichuan Zhidewang, a biotechnological company, completed the angel round of financing that will be used to advance its R&D, brand upgrading, and marketing. The company has three major shareholders, including Sichuan Huiji Food Co., Ltd., Grass Green Group, and New Hope Group.
It is worth noting that Zhidewang has set an ambition to be the largest vegetarian meat supplier in China.
This unexpected strategy makes sense.
In recent years, as consumers’ need for healthy food went up, plant-based meat has acquired recognition. Markets and Markets, a market research firm, estimated the market scale of plant-based meat will reach USD 27.9 billion by 2025. Since 2019, the market has shown a large potential, but there wasn’t a brand that took a significant market share. Then Zhidewang was born.
Zhidewang mainly focuses on plant-based food, alternative protein food, and environment-friendly food, promoting a healthy lifestyle.
In spite of its undoubted advantages, when it comes to plant-based products, Zhidewang was not satisfied and spared no efforts to advance its R&D. The brand cooperated with several universities and research institutes to foster innovation. As a result, its multiple technological outcomes have reached a leading level in China.
When it comes to production, Zhidewang’s factory was put into operation in 2021, the largest automatic production factory in southwestern China. The factory’s annual production capacity is around 3,500 tons.
When it comes to the market, Zhidewang worked with multiple restaurant chains, vegetarian restaurants, and high-end stores.
Looking forward, under the guidance of the “double carbon goal” (peaking carbon emission before 2030 and reaching carbon neutrality before 2060), Zhidewang will be committed to upgrading its production line to offer more products, developing more application venues, and improving the environment-friendly packaging and cold chain transport.
As Chinese consumers’ needs for nutrition have changed from “strong nutrition” to “balanced nutrition”, plant-based meat would be a good choice in the long term.