Here are some Chinese food facts that shed light on all the things we don’t know that we don’t know.
At the Future Food Tech event in London I learned a few things that serve as a humble reminder of:
1) how fortunate we are
2) how big this world is
3) how quickly you need to move to stay in the game.
550 Million upper middle class Chinese
There will be 550 Million upper middle class people in China by 2020. They are willing to pay premium for a fine dine experience or for getting a nicer phone. People are learning to make better choices, they are paying for quality and for clean labels. Luckin Coffee is one example of this. They raised 200 Million and opened 600 coffee shops, becoming the Starbucks of China in a matter of a few years from 0 to making gazillions in one market.
Pigs, pigs, pigs
China consumes the same amount of pigs in 45 days as the entire WORLD does in one YEAR. Plant-based pork options, anyone?
When entering the Chinese market, you have a window of 6 months to establish yourself and your brand before the copycats take over, producing the exact same thing you’re selling for a fraction of the price.
Halving meat consumption by 2030?
And the last Chinese food fact: In 2016 China said it would half its meat consumption by 2030. However, the government is investing less than $1M per year into making this happen (applies to all other countries too), which only shows that the effort isn’t enough and that the matter shouldn’t be left to be dealt with in the Silicon Valley or by the world’s entrepreneurs.
There was also one last point that really stuck with me, a little unrelated to Chinese food facts, but still:
In Nigeria one egg costs 40% of a regular worker’s daily wage.
Having an omelette for lunch is not exactly a thing.