Plant-based Chicken: NX-Food invested food tech startup Next Gen expands in Asia20 May 2021
Classic Fine Foods is partnering the expansion. Headquartered in Hong Kong, the fine food specialist operates in 10 countries across Europe, the Middle East and Asia, under the ownership of wholesale specialist METRO AG, which is also a Next Gen investor through innovation hub NX-Food.
“Classic Fine Foods has developed as the preferred go-to-market partner for the best plant-based brands. Our unique Asian multi-geography presence and deep understanding of the markets allow us to connect innovative brands with state-of-the-art chefs and help increase consumers’ interest and demand for this category. We are confident of bringing TiNDLE to our network as we see great potential for this unique product in Hong-Kong, Macau, Kuala Lumpur, and across many of the other markets we are present in,” said Christophe Barret, Chief Executive Officer, Classic Fine Foods.
The fine food specialist is accelerating the move towards plant-based proteins in gastronomy. Through their connection with the food service industry, Classic Fine Foods’ in-house chefs are working closely with restaurateurs to help create new, delicious dishes with TiNDLE, across multiple cuisine styles. By removing barriers to integrate innovative products on restaurants menus, Classic Fine Foods aims to be a key driver in getting consumers across Asia excited about TiNDLE.
On the Rise
Plant-based meat has seen strong demand in the West and is now gaining momentum in Asia. According to DuPont Nutrition &Biosciences, demand for plant-based products in Asia will surge over 200% in the next 5 years.
Euromonitor estimates China’s plant-based meat market to reach approximately US$12 billion by 2023. China also plans to reduce the nation’s meat consumption by 50% by 2030 in order to reduce its greenhouse gas emissions. This has created a massive opportunity for plant-based meat consumption to grow in the coming years.