As the shift to vegetarian diets becomes more deeply rooted in Hong Kong, local start-ups are seizing the opportunity to develop new food technologies. Hong Kong start-up Good Food Technologies has developed a plant-based pork substitute made from konjac (a root vegetable widely cultivated in Asia), coconut oil and soyabeans. The firm's first round of financing attracted HK$12 million (US$1.53 million) which will be used to build new production facilities, develop retail capabilities and grow beyond Hong Kong.
With Mainland China setting 2060 as the deadline for carbon neutrality, sustainable development has become an important goal for the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). The Hong Kong Trade Development Council (HKTDC) and global bank HSBC have teamed up to help small and medium-sized enterprises (SMEs) upgrade in order to achieve environmental, social and governance (ESG) objectives.
The rise of so-called “fast fashion” over the past two decades enabled consumers to buy a wider range of clothes at low prices, rapidly boosting the fashion industry worldwide – but the fast fashion trend has led to a string of environmental and sustainability concerns.
Learn about latest market updates and insights to empower your business.