Exclusive Interview With Nick Halla, Senior Vice President Of Impossible Foods, China Is One Of The Most Important Single Markets.

Contributing author Zhu Lina Singapore Report

In 2009, Patrick Brown, a professor of Biochemistry at Stanford University, applied for a 18 month long sabbatical leave to reflect on her future academic career. In the meantime, he was determined to solve the biggest environmental problem in the world: slaughtering animals to satisfy human stomachs.

Brown founded Impossible Foods in 2011 on the basis of its determination to study the "plant meat" changing the world. In 2016, the company first introduced vegetable beef products, using the hemoglobin extracted from plants, and manufactured a hamburger steak with taste, texture and even color.

The scale of the whole animal meat industry is as high as 1 trillion and 700 billion US dollars, and animal husbandry is the main source of greenhouse gas emissions. In the past, consumers are most concerned about the taste of food, and in recent years, the environmental impact of food is increasing. Nick Halla, senior vice president of Impossible Foods, said in an interview with the twenty-first Century economic news reporter.

Tug Gan Jun

From farms to feed mills and middlemen, the meat industry has developed into a complex global business. At present, the world's 6 largest meat companies have a total market capitalization of US $60 billion, and the market share of the top meat company is 23 billion US dollars.

"Compared with traditional beef crusher, Impossible's meat production process can reduce 96% of land use, 87% of water consumption and 89% of greenhouse gas emissions, and is more environmentally friendly. But at present, the proportion of vegetable meat accounts for less than 1% of the total meat consumption. He admitted.

With the introduction of artificial meat start-ups, the "artificial meat" laboratory is expected to replace traditional farms, feedlots and slaughterhouses, which means that meat giants will face unprecedented challenges. According to MarketsandMarkets's latest research report, the global market for artificial meat in 2019 is about $12 billion 100 million, which is expected to grow at a CAGR of 15% per year, and will reach US $27 billion 900 million by 2025.

In May, when the "artificial meat concept" became popular, Impossible Foods announced the latest round of financing, which amounted to $300 million. The E round is funded by existing investors, Singapore National Investment Corporation Temasek and Li Jiacheng's investment in Victoria Harbour. Up to now, the company has raised over $750 million, including investors such as Bill Gates Bill and Google Google (Google Ventures).

At present, Impossible's hamburger steak has been sold in 17000 restaurants in the United States, Hongkong, Singapore and other places, including hamburger king and other large chain fast-food restaurants, and more than more than 100 supermarkets in the southern coast of California and some parts of the east coast are also on shelves.

Sales in Asian markets soared more than 6 times.

Last April, Impossible Foods launched plant meat in the Hongkong market as the first stop to expand beyond the US market. Zhou Siwei Little Bao mini bag and Happy Paradise of Asia's best female chefs became one of the first Hongkong restaurants to provide Impossible products, and joined the local Cantonese cuisine to win the praise of customers. After the first battle, Impossible Foods entered Singapore in March this year.

"Hongkong is recognized as a food city. It has gathered a large number of restaurants and chefs with good reputation. The local diet is mainly meat. In Hongkong, some famous chefs and star hotels have led the local catering trend, which is quite different from that in the United States. The situation in Singapore is also very similar. Here you can find delicious food from all over the world. Since the launch of our products in Singapore, the sales volume of the whole Asian market has soared more than 6 times, and the response of the market is amazing. Halla says.

He admitted that in the US market, Hamburg consumption is very important, so the company chooses to attack the hamburger market. At present, there are more than more than 100 supermarkets in Burger King and other large chain fast-food restaurants, parts of the southern coast of California and the east coast of the United States, and can see Impossible Foods's vegetable meat products.

However, to enter the Asian market, we must "do in Rome as the Romans do". "The Asia Pacific region currently accounts for 44% of the global meat consumption. Undoubtedly, this is our important market." In Asia, people use stir fried meat to make all kinds of dishes, such as dumplings, meatballs and so on. There are many kinds of dishes that are beyond your imagination, but so far the market reaction has given us confidence. He pointed out.

He pointed out: "in the US market, hamburgers have basically covered most consumers, but in the Asian market, different products are needed to satisfy different consumers' needs. Although we are also looking at other overseas markets such as Europe and Brazil, the Asian market is our focus at the moment, and we hope that the food supply system in Asia will be more sustainable. "

Brewing artificial pork

In Halla's view, pork is an important part of meat consumption in Asia, especially in the Chinese market. Our platform can technically produce any vegetable meat products, and pork is of course our concern. In terms of texture, pork has a higher fat content. We need to fine tune the manufacturing process. "

"China's meat consumption accounts for 28% of the world's total, which is one of our most important single markets. In November 5th, we attended the fair in Shanghai, and the market feedback on plant meat products excited us. Usually, when we go to a new market, we need to explain to local consumers why we choose vegetable meat. What is the significance of this? But at the fair, many Chinese consumers are very much in favor of vegetable meat. They have a strong sense of efficiency and sustainability in the food production system. He admitted.

According to the US Department of agriculture, the world's pork output was about 1.13 billion tons in 2018, and the Chinese ate 55 million 950 thousand tons. In his view, the consumption habits of the Chinese market are changing rapidly. "Some people say that if you conduct a market research, the market will probably change in six months. There are similarities and differences between the Chinese market and other Western markets. We have gained valuable experience in these markets such as Hongkong and Macao.

At the same time, he admitted that there are great differences in the catering culture between different major cities in China, but there is no clear timetable for the introduction of plant pork in the Chinese market. "We still need to know more about local culture, find a better way, and are currently recruiting relevant local Chinese teams."

In fact, the company's founder, Brown, revealed in September this year the first fortune global sustainability forum held in Fuxian Lake, Yunnan Province, hoping to enter the Chinese mainland market next year. At that time, local officials in Yunnan immediately threw olive branches, expressing willingness to provide conditions and welcome them to set up factories in Yunnan.

At present, Ou Kelan, Oakland in California, owns the first large-scale food manufacturing plant, producing about 2 million pounds of vegetable meat per month.