Meal replacement market in its infancy
COLDSKY.CN – Meal replacement market is slowly moving ahead in China as the largest financing this year fell on Wholly Moly( 好哩), in +10 M RMB in July.
The Shanghai-based company founded in 2017 produces powdered drinks and instant porridge made of oat bran, imported from central and western regions in the United States. It set sales records in Tmall.com and won a number of industry awards in recent years.
Misszero(超级零), a brand launched in 2017, markets its products under the zero sugar concept and, on its official website, listed three US nutritionists as advisers. The brand ranked first in Alibaba’s Nov. 11 shopping festival last year.
All 19 investment cases in the meal replacement products, by 14 enterprises, involved relatively early funding, a sign of the market in its infancy, according to itjuzi.com
A research by Intelligence Research Group(北京智研科信咨询有限公司) found many of such alternative food exaggerated the weight loss functions by using doctored photos to play up the contrast, essentially a fraudulent scheme to costumers.
As the graph showed, many traditional brands and Internet-savvy developers are churning out different products in the market including powder, shakes, energy bar and snacks.