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has developed a plant-based road with Chinese characteristics.
It is difficult to define the current situation of the new consumption track “plant-based”.
For example, vegetable meat was once “hot for capital and cold for users”. On the contrary, vegetable milk is still flourishing in the consumer market. In addition, the “popularity” of vegetable milk seems to be only reflected in the product “oat latte”.
Different categories under the “plant-based” and different products in the category have a double-sided life like a doll.
But to a certain extent, compared with some other tuyere racetracks that were once brilliant but have now been extinguished, the natural advantage of the plant-based racetrack is that it is fundamentally stepping on the deterministic trend of “health”.
In this article, new consumption daily will focus on the hot plant-based foods and drinks in the current market, talk about their two-sided lives, and how they broke away from the shackles and tried to break out of the siege after the first half of the wind.
The same “base” has different destiny
First, let’s talk about plant meat and plant drink, which have different lives from “Ji”.
In fact, compared with the plant-based drinks with oat milk as the main product, in the capital market, the tuyere initially favored plant meat, and 2020 was also regarded as the first year of the domestic plant base.
In 2019, beyond meat, the world’s first vegetable meat stock, was listed on Nasdaq, and its share price soared 163% on the day of listing. This story made domestic entrepreneurs and investors feel that a new wind is coming.
Then we wrote the story: plant meat has become a new consumer market, a new blue ocean, and the arrival of hundreds of billions of plant meat outlets
According to incomplete statistics of new consumption daily, in 2020, there were four financing projects for the new outlet of vegetable meat, namely, “Sunday zero”, “Hey Maet”, “precious meat” and “new vegetarian”. Among them, “Sunday zero” and “Hey Maet” completed two rounds of financing in 2020, while only one financing project for vegetable drinks occurred.
In 2021, the plant-based market completed 26 rounds of financing, with a total amount of 913 million. At the same time, in terms of quantity, the number of plant-based beverage brand financing increased to 8, and the rest were all plant-based meat brands.
There is no obvious turning point in the story, but with the passage of time, the plant meat seems not to be as beautiful as expected.
On the one hand, with the popularity of the concept of plant meat in China, since 2020, many catering food enterprises, including KFC, Nestle, Starbucks, Xicha and so on, have tried to layout or launch relevant products in China. But now, most vegetable meat products have “disappeared” from the menu of enterprises.
In an interview with China business news this year, a relevant person in charge of an enterprise said that the last time vegetable meat products were sold was in 2020. At that time, the sales situation could only be counted as
According to the 2022 semi annual report of “oatly”, the company achieved revenue of 340 million US dollars, about 2.33 billion yuan, a year-on-year increase of 20.2% in the first half of the year. The revenue of the second quarter was 180 million US dollars, a year-on-year increase of 21.8%.
Among them, Asia is still the fastest-growing regional market for “oatly”. Despite the impact of the epidemic, the Asian market still contributed US $72.5 million in revenue in the first half of the year, an increase of 41.5% year-on-year.
Compared with the current “hard to cook” vegetable meat, vegetable drinks, including soybean milk, almond juice, coconut water, oat milk, etc., seem to be booming. But if you study carefully, which brand has become the representative of the category?
It seems that the outsider “oatly” and the most well-known oatmeal product for consumers are the cup of “oatmeal latte” derived from coffee.
To a certain extent, the category of plant-based drinks, “oat latte” and others have also experienced a two-sided life.
As we all know, the most critical choice for “oatly” to be popular in China is to target the domestic coffee market. According to Zhang Chun, President of oatly Asia, at that time, the team formulated the “three ones” strategy of one city (Shanghai), one market (coffee) and one product (barista oat milk).
So in 2018, “oatly” joined hands with the chain coffee brand Pacific coffee to launch oat based coffee products in more than 300 stores. Soon, consumers realized oatly through the drink “oat latte”.
In the subsequent period, it continued to “marry” with Starbucks, manner,% Arabica, Peet’s coffee and other boutique chain cafes, rapidly gaining ground in the Chinese market. It is reported that oatly has more than 11000 coffee and tea shops in Asia.
However, with the passage of time, oat drinks may face the problems of “Chengye coffee, loser coffee”, “oat latte” and other plant-based drinks.
On the one hand, to some extent, joining hands with coffee shops and tea shops is just one of the brand marketing or channel strategies, hidden behind coffee, and is not a long-term plan to build a brand.
On the other hand, after a dividend period of two or three years, the coffee shop’s dividend has been basically divided up. In particular, when the coffee shop becomes a sweet cake that Oatmeal Milk has to hold in the palm of your hand, if you want to live, you can talk about the “bonus” of the coffee shop, and bringing money has become the only “stepping stone”, which has become the so-called “hidden rule”.
According to a oat milk brand that has cooperated with the top 5 chain coffee stores, the cooperation cost of a single oat milk drink a during the activity was more than one million yuan in the two months of cooperation with the cafe.
In addition, product development, raw material procurement, agency
In addition, “Sunday zero” also launched a new product in June: vegetable protein shredded pork “spicy hiss”. It is reported that the product has three flavors: sour and spicy snail powder flavor, Western cumin barbecue flavor and secret Sichuan spicy halogen flavor. The price is 11.9 yuan / bag.
This attempt to add plant-based meat to the regional flavor and further “snack” has not only relatively reduced the cost of consumers trying plant-based meat, but also further entered the daily life of consumers.
As for “oatly”, it is not limited to the single category of oat milk. It has launched oatmeal ice cream, oatmeal porridge and other related new products in China.
On August 15, “oatly” and KFC jointly launched “edible oat cup latte”. The cup body of the new product is made of edible oat cup-shaped pastry, “which can be drunk and eaten”, which further expands the imagination of oat milk.
In the “2022q2 magic mirror consumption new potential white paper” released by magic mirror market intelligence, “oat ice cream” has become a high growth concept in snacks and beverages.
The white paper points out that although oat ice cream currently accounts for only 0.5% of the sales of the entire ice cream market, it can still maintain a growth rate of 1045.7% against the background of a year-on-year decrease of 12.9% in the sales of the entire ice cream market, and has broad market prospects.
Although the taste, cost performance and calories of oat ice cream are still the current pain points, from the perspective of its market growth, the more “snack” plant-based is obviously one of the ways for brands to make category cognition and reach a wider audience.
As for vegetable milk, if they want to get out of the cafe, get rid of the impression of “backing on coffee” and usher in their own life, they also need to develop more suitable for Chinese tastes while developing their potential in the direct drinking sector.
New consumer daily observed that the black sesame plant milk with “plant label” was its first and widely acclaimed product. In addition, the inspiration of the pistachio flavored vegetable milk it developed came from “the taste that young Chinese consumers often ate and remembered when they were young.”
“But in the direct drinking scenario, consumers vote with their tongues. Chinese consumers’ taste buds have developed their own drinking habits. It happens that one of the weapons of vegetable milk is its diverse flavor.” Zhang pride, founder of “plant label”, pointed out in an interview with fbif that:.
In addition to the localization of taste, more importantly, it also gives users a “creative choice” in homemade drinks. After all, in Xiaohong book, there are more than 10000 + notes about “homemade oatmeal latte” and 280000 + notes about homemade latte
Rather than making the product a companion hidden in the hands of baristas, it is more important to make it a beverage companion in the hands of consumers.
2. External force: make good use of the opportunity to get out of the cafe and reach a wider consumer group
“At present, vegetable meat is mainly used for Tob
“Three key choices — oatly oat milk’s entry and exit in China | selected cases” Harvard Business Review Lab
Ten bowls of Mary in vegetable milk: Chengye coffee and loser coffee
Author: bale; Source: newconsumerdaily (ID: newconsumerdaily), reprinting has been authorized. Reprint authorization and media cooperation: Jennifer (wechat: 15151447934);
From hot to cold, how can the botanical base go well in the second half under the double life?
《三次关键选择——OATLY燕麦奶在中国的入圈与出圈 | 案例精选》 哈佛商业评论Lab