Food Tech ‘Next Gen’ Plant-Based Start-Up Expands To Hong Kong, Macau, Kuala Lumpur

Monday, May 24th, 2021 | 654 Views


Singapore-headquartered food tech startup Next Gen, pioneering plant-based foods, has simultaneously expanded to three of Asia’s most exciting cities:  Hong Kong, Macau and Kuala Lumpur. First launched in Singapore, Next Gen’s plant-based chicken consumer brand “TiNDLE” will be available in these markets starting 24 June 2021.

Next Gen is now replicating its successful Singapore launch with an international expansion strategy. The launch attracted huge attention, excitement from chefs and restaurants, and demand from consumers. This success has helped Next Gen grow at an unprecedented scale and lay the groundwork for continued global growth.

Hong Kong is one of the great food and cultural hubs of Asia. Macau is a hugely popular tourist destination, especially for Mainland China, with some 40 million tourists in 2019. Kuala Lumpur has long been known for its excellent multicultural food culture.

“We are building a global foodtech business with strategies and models adopted from the technology sector. Our international expansion is driven by our asset-lite model, partner expertise, and funding resources, which collectively drive our operational scalability. These three cities mark the second phase of our plan, following our Singapore launch. Our third phase will see us laying the groundwork for further international markets expansion,” said Andre Menezes, Chief Operating Officer and Co-Founder, Next Gen.

Exemplifying the importance of its asset lite model and network of experts, fine food specialist Classic Fine Foods, already its distributor for Singapore, is also distributing TiNDLE in the three cities, bringing its market knowledge, network, and profound understanding of consumer trends. Headquartered in Hong Kong, Classic Fine Foods operates in 10 countries across Europe, the Middle East and Asia, under the ownership of wholesale specialist METRO AG, which is also a Next Gen investor through foodtech hub NX-Food.

“Classic Fine Foods has developed as the preferred go-to-market partner for the best plant-based brands. Our unique Asian multi-geography presence and deep understanding of the markets allow us to connect innovative brands with state-of-the-art chefs, and help increase consumers’ interest and demand for this category. We are confident of bringing TiNDLE to our network as we see great potential for this unique product in Hong-Kong, Macau, Kuala Lumpur, and across many of the other markets we are present in” said Christophe Barret, Chief Executive Officer, Classic Fine Foods.

The fine food specialist is accelerating the move towards plant-based proteins in gastronomy. Through their connection with the food service industry, Classic Fine Foods’ in-house chefs are working closely with restaurateurs to help create new, delicious dishes with TiNDLE, across multiple cuisine styles. By removing barriers to integrate innovative products on restaurants menus, Classic Fine Foods aims to be a key driver in getting consumers across Asia excited about TiNDLE.

 

Market Demand

Plant-based meat has seen strong demand in the West and is now gaining momentum in Asia. According to DuPont N&B, demand for plant-based products in Asia will surge over 200 percent in the next five years. 78 percent of APAC consumers say that plant-based meat alternatives are here to stay, and consumption will continue to grow. Technavio projects the market will be worth US$12.75 billion by 2030.

Euromonitor estimates China’s plant-based meat market to reach approximately US$12 billion by 2023. China also plans to reduce the nation’s meat consumption by 50 percent by 2030 in order to reduce its greenhouse gas emissions. This has created a massive opportunity for plant-based meat consumption to grow in the coming years.

 

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