SINGAPORE 21 Sept. - Green Planet Foods officially launches its venture studio focused on plant based food & beverages and advanced farming technologies, powered by founders of the Center for the Spread of Affordable Wellness (CSAW), China Renaissance Capital Investment (CRCI) and BrandHouse Holding.
Four key global entrepreneurs in the FoodTech and AgriTech industries across Asia Pacific came together with one common desire: for the world to eat healthier.
Green Planet Foods will act as a market developer and product innovator to introduce affordable plant-based food & beverage products, and as an incubator that invests in bringing in new innovations in precision farming, starting with the Mainland Chinese market.
This morning, Ashok Vasudevan, co-founder of Green Planet Foods, gave his keynote address at the Future Food Asia 2020 (FFA2020) conference, and shared more about the new venture studio, "The mission of Green Planet Foods is to promote affordable wellness in Mainland China by blending global food innovation with scale, achieved through the acceleration & incubation of global innovations in plant-based food & beverage categories.”
“It is our belief that food is a primary contributor to wellness – a basic and equal right for every individual,” continued Vasudevan who is also co-founder of CSAW, based in Singapore. “Across the four co-founders, we share a rich ancestry of farming cultures and pay homage to our history. We believe that we’d rather pay the farmer than the pharmacy.”
The opportunity in Mainland China
Comprising almost 20% of the global population, China is the most populous country in the world and is rapidly growing. The government of the People's Republic of China has been acutely aware of the growing consumption needs of its people, with an average annual growth rate of 15% in capital expenditure from farm to fork production or processing. The government has also launched multiple campaigns targeting better eating habits, such as the Healthy China 2030 campaign that explicitly recognises the importance of food and balanced diets to health.
At the same time, there is familiarity with the benefits of plant-based diets. Chinese society has known about this for centuries and that thinking is still pervasive today; Caixin Global estimates there are at least 50 million vegetarians in China (4 times that of the USA). Contrary to popular belief, Chinese consume up to 1.5 times more plant-based foods (vegetables, nuts, legumes, whole grains etc.) than their Western counterparts, while eating 60% less meat and meat products. Plant-based knowledge is also inherent in traditional Chinese medicine and herbs, affirming the correlation between food and wellness.
“Unlike popular belief, Chinese capital no longer merely seeks to invest in infrastructure or manufacturing assets. It seeks social impact and we believe Green Planet Foods’ commitment to affordable wellness is probably the largest positive impact we can make to Chinese society today.
"The recent COVID-19 situation has exposed how broken the world's food systems are. Mainland China is at the cusp of a huge growth curve of its agriculture and food industry. Armed with these learnings, we have an opportunity to lead from the front and define how the next Green Revolution should look like to bring wellness to all”, said Mark Qiu, co-founder of Green Planet Foods, and CEO of CRCI, a Chinese private equity firm with more than US$3 billion AUM, based in Hong Kong SAR.
"With its immense appetite for new innovations, the Chinese market offers unprecedented scale for new ideas and brands to set the trend for new categories of affordable wellness," he said.
Open for collaboration
Green Planet Foods will partner with global innovators to further develop, localise and launch their products into the Chinese market through its extended network of corporate partners, investors and portfolio companies.
"Let us be clear – we are not an accelerator or incubator in the traditional sense of the word. We will actively share the risks and rewards with innovators, while bringing our inherent knowledge of the Chinese market. Where necessary, we will also lead the research and development of proprietary foods and technologies", said co-founder and CEO of Green Planet Foods, Petersen, who is also Executive Chairman of BrandHouse Holding, a cross-border e-commerce platform focused on FMCG products based in Shenzhen.
What's next for Green Planet Foods?
Incorporated in Singapore and funded by the promoter group, Green Planet Foods is already in the midst of bringing several projects to bear. These range from precision agriculture to plant-based meats, ready-to-eat foods and dairy.
“Entrepreneurs have uncommon perceptions and insight into their customers that allow them to build deep resonance.
"Through Green Planet Foods, we will offer an international yet local understanding of the Chinese market, while holding an industry-insider view towards technologies and the critical issues that need to be solved in the food value chain. Combining the two, we will achieve tremendous momentum in the Chinese market”, said Meera Vasudevan, co-founder of Green Planet Foods and CSAW. - DagangNews.com
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