First Green Pioneer Stores for KFC in China
Yum China Holdings, the company behind KFC, Pizza Hut and Taco Bell in China, has announced the launch of KFC's first Green Pioneer Stores in Hangzhou and Beijing, aiming to further integrate innovative solutions for building net-zero restaurants in the future. "We are committed to driving meaningful change in the restaurant industry towards net-zero emissions. Building Green Pioneer Stores is an important part of our journey," said Joey Wat, CEO of Yum China. “We will continue to explore utilization of innovative technologies in restaurant construction and operations to promote sustainable development and contribute to the low carbon economy.” Guided by Yum China’s 4R Principles: Reduce, Reuse, Recycle and Replace, KFC has integrated energy saving, emissions reduction, plastic reduction, and other environmentally friendly measures in stores across the country.
Wagyu beef market set for growth
The wagyu beef market value is estimated to grow by $2.43bn from 2020 to 2025, and the market’s growth is anticipated to accelerate at a CAGR of 6.15%. A report from market analyst Technavio
found that the Asia Pacific region will register the highest growth rate of 74% among the other regions and will subsequently create significant business opportunities for the vendors during the forecast period. Wagyu beef costs around three times more than other types of beef.
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Plant-based nutrition rooted in Asian culinary traditions
The global plant-based industry is expected to be worth over $160bn by 2030. Singapore-based plant-based nutrition company Growthwell Foods is committed to innovation and research to create food suited for the Asian palate. In Asia, consumers are becoming more conscious of what they eat. A recent study by PwC, Rabobank and Temasek found 43% of Indonesian consumers indicated a likelihood of becoming a vegan or vegetarian in the next 12 months, with 37% in Thailand and 23% in Singapore. Low moisture extrusion is the standard industry method for making plant-based products. Growthwell Foods recently set up an R&D manufacturing centre featuring Singapore’s first high- scale high moisture extrusion (HME) line. This new technology is crucial in giving food meat-like texture, using the least additives, ensuring a healthier product for consumers. “I am honored to be appointed Group CEO of Growthwell Foods and spearhead its next phase of growth in sustainable plant-based food and nutrition innovation,” says Growthwell Foods’ new CEO Manuel Bossi. “We are on a mission to nourish one billion people with plant-based food, and I believe we already have the best offerings in the market to make that happen,
particularly seafood offerings designed for Asian palates.” Growthwell began as a family managed food factory with
nearly three decades of plant-based know-how transitioning in the past two years into a leading Asian food tech start-up. According to Bossi, Growthwell aims to enter new markets in Asia and Europe in 2022, as well as preparing to drive growth into adjacent plant-based categories with their patented high protein chickpea technology. In April 2022, Growthwell Foods acquired a majority stake in ChickP following an investment into the Israeli start-up, founded by Professor Ram Reifin. It is the first company in the world to patent and launch the ground-breaking 90% chickpea isolate, an ingredient that is known to be nutritious, versatile and neutral in taste. Growthwell Foods develops products like HAPPIEE!, a
range of plant-based seafood and meat products available in Singapore’s supermarkets. It also creates local food service solutions such as Seafood Laksa with konnyaku prawns and Lion Mane Mushroom Rendang for Singapore’s largest vegetarian restaurant chain. The company is committed to contributing to a healthier, more sustainable food system that respects the body, local culinary traditions, and the planet.
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