路易莎·伯伍德-泰勒　余天玮

Economists around the world have closely watched Chinese consumers for several years as indicators of global economic growth.

Chinas agrifood startup industry grew in 2018. Funding to startups operating across the food and agriculture supply chain reached $5.8 billion in 2018， a 222% increase on 2017， according to a report by online venture capital firm AgFunder and Chinese food tech VC1 Bits x Bites. While one mega $1.5 billion deal for one of the countrys leading food delivery platforms Meituan Dianping skewed2 the data， a 60% increase in the number of deals confirms the sectors growth.

Chinese consumer can be fickle; trends frequently come and go. In 2017， the food technology of the moment was robotic retail manifesting in unmanned stores. Investors rushed to fund the latest startup offering this technology， but almost as quickly， the category fell out of favor when these businesses could not generate profits.

Here are four key trends driving innovation in Chinas food industry today.

1. A fragmented consumer market

Chinas exploding middle class is old news but for entrepreneurs， it continues to present an opportunity to develop new products and services that they want and can afford. Startups in the category of premium branded foods and restaurants， including higher-end food products and experiences， raised $770 million in investment in 2018， up 172% on 2017 levels.

At the same time， however， and a relatively new development in China， is the rise of technology targeting Chinas lower-income population. Emerging innovators are targeting low-income consumers looking for bargain food options and services and are finding success in lower-tier cities. The opportunities now getting investors and entrepreneurs attention include consumer products that meet the lifestyles of lower-income cohorts and areas where data can be leveraged and technology can be scaled.

Pinduoduo， a fast-growing group buy app for discount products， is a key example of a successful startup that went on to list on the NASDAQ stock exchange.

2. The data grab

Chinas leading technology companies are playing a pivotal role in the growth of the food technology industry. Some of their largest deals include Tencents investment in the whopping $1.5 billion Series F/pre-IPO round of restaurant delivery group Meituan     Dianping and Alibabas investment in the $280 million Series C round of alcohol delivery group 1919.cn.

Alibaba， known for its enviable        e-commerce platform， has redefined much more than Chinas retail landscape. It has evolved into a full-blown ecosystem that has transformed across supply chains through organic and inorganic3 expansions. This expansion model， built on evolution and aggregation， has made its way to food where Alibaba now encompasses e-grocery， restaurant marketplaces， food services， in-store restaurant tech， supply chain logistics， to name a few.

These internet giants are investing in just under half of 2018s deals and writing some of the biggest checks. Whats their strategy？ It could be many things including promoting more traffic to their sites but its also clear that access to data about consumer habits will be a key driver， and their desire to play a role in every aspect of Chinese lives.

3. Hyperconnected consumers expect hyperconvenience

Chinese consumers are growing increasingly impatient， especially when it comes to food. Whether its groceries， coffee deliveries， or just waiting in lines for restaurant tables， customers expect everything to come to them， quickly and cheaply.

Innovations exemplifying hyperconvenience were responsible for several of the largest deals in 2018， including the top e-grocer MissFresh， which raised funding from investors including Goldman Sachs， Tencent， and Meituan-Dianping.

Elsewhere， Meiweibuyongdeng is a mobile app that allows diners to reduce restaurant waiting time and at the same time helps restaurants better manage customer traffic. It closed a Series D from online travel agency Ctrip and Alibaba.

Luckin Coffee， often dubbed the Chinese Starbucks rival， emphasizes a digital-first strategy. Many of their customers are getting their coffee via delivery， others order and pay for their beverage through the app， and then get alerted on their phone when their order is ready to pick up.

4. Demand for a safe supply chain

Chinese consumers—especially those in the growing middle class—are increasingly cautious about where they buy their food and what they eat. In any country， a fragmented， opaque and inefficient supply chain is at the heart of the problem， particularly when it comes to perishables like meat and vegetables.

A few startups operating in the middle of the supply chain—dubbed Midstream Tech—are aiming to improve efficiencies in Chinas supply chain.

Meicai， the online platform that purchases directly from primary suppliers and farmers， raised $450m in the largest farmtech deal of 2018. The Chinese startup allows restaurants to order raw materials， and spices and other kitchen supplies from a large variety of vendors by simply clicking a button. Cold-chain logistics provider Jiuye completed a $14 million Series C in 2018. It is powered by its 30 “cloud warehouses”， complete with a transportation monitoring system which utilises GPS and temperature sensing technologies to achieve traceability and temperature visualization for smart cold storage and delivery.

多年来，世界各地的经济学家一直密切关注中国消费者的行为，并将其视为全球经济增长的指标。

中国农业食品初创企业在2018年快速发展。美国线上风险投资公司AgFunder携手中国食品科技风险投资机构Bits x Bites发布的一份报告显示，2018年中国食品及农业初创企业融资总金额达58亿美元，与2017年相比，同比增长222%。尽管中国领先外卖平台之一的美团点评获得15亿美元的巨额融资也被计算在内，但高达60%的交易额增长仍然证实了该行业的发展。

中国消费者是善变的，消费潮流也因此频繁更迭。2017年，无人商店的零售机器人在食品科技行业曾红极一时。投资人纷纷向提供该技术的初创公司伸出橄榄枝，但是没过多久就发现不能获得盈利，很快便无人问津了。

当前，推动中国食品产业创新的有以下四个主要趋势。

1. 分散的消費者市场

中国中产阶层的爆炸式增长不是什么新闻，但企业家们仍然想利用这一机会开发出中产阶层想要并有能力负担的新型产品与服务。2018年高档食品和餐饮行业——包括提供高端化的食品原料和消费者体验的初创企业，总融资额达7.7亿美元，较2017年增长了172%。

然而与此同时，取得较新发展的是针对中国低收入人群的技术。新兴的创新型企业瞄准了寻求廉价食品和服务的低收入消费者，并在非一线城市取得了成功。这引起了投资者和创业者的关注，他们把提供符合低收入群体生活方式的消费品和能影响数据并扩展技术的领域视作商机。

拼多多，一款发展迅速的折扣商品团购手机应用，是成功的初创企业在纳斯达克上市的典型案例。

2. 数据抓取

中国领先的科技公司在食品科技行业的发展中起到了关键作用。其中一些数额巨大的交易包括：腾讯公司参与了餐饮配送集团美团点评首次公开募股前高达15亿美元的F轮融资，阿里巴巴公司参与了酒类直供集团1919.cn 2.8亿美元的C轮融资。

以令人艳羡的电商平台而闻名的阿里巴巴集团，远不止重新定义了中国的零售格局。它已然发展成一个成熟的生态系统，并通过有机和非有机扩张进行了供应链转化。这种建立在演进和聚合基础上的扩张模式已经进入了食品领域，阿里巴巴目前在该领域的业务已经涵盖电子食品杂货、餐饮市场、食品服务、线下餐厅技术、供应链物流等多个方面。

这些互联网巨头的投资将近2018年交易额的一半，且还在筹备更大的投资计划。他们的战略考量是什么？可能包含很多方面，其中包括提高网站访问量，但关键的驱动因素是他们十分重视消费者的消费习惯数据，并且渴望在中国人生活的各个方面都占有一席之地。

3. 超连通消费者期望超便利

中国消费者越来越没有等待的耐心，食品消费尤其如此。无论是食品杂货店、外卖咖啡，或仅仅是在餐厅排队，消费者希望一切都能快速、廉价地到达他们手上。

体现超高度便利的创新成就了2018年几笔金额最大的交易，包括中国顶级电子食品杂货商每日优鲜获得高盛集团、腾讯公司和美团点评等投资方的融资。

除此之外，美味不用等这款手机应用，可以减少食客排队时间，同时帮助餐厅更好地管理客流。该公司D轮融资已结束，获得了线上旅行社携程网和阿里巴巴集团的投资。

瑞幸咖啡常被称为星巴克在中国的竞争对手，它强调数字优先的战略。它的许多顾客都是通过送货上门的方式购买咖啡，其他人则是通过手机软件下单并付款，订单完成之后他们会在手机上收到取货提醒。

4. 对安全供应链的需求

中国消费者——尤其是正在增长的中产阶层消费者——越来越关心购买食品的渠道和质量。一个零散、不透明、效率低下的供应链在任何国家都是导致问题的关键，在涉及肉类和蔬菜等易腐食品时尤其如此。

一些在供应链中端运作的初创公司被称为中游技术公司，它们旨在提高中国供应链的效率。

中国初创企业美菜网是一个从原产供应商和农户在线采购的直供平台，在2018年融资4.5亿美元，这是金额最大的一笔农业技术融资。通过该平台，餐厅经营者只需在键盘上轻轻一点，就能从各方供应商订购原材料、调料和其他厨房用品。冷链物流商九曳供应链在2018年完成了1400万美元的C轮融资。该供应链有30个“云仓储”，并同时配有运输监控系统，可以利用GPS定位和温度传感技术实现货品全程可追溯和温度可视化，以实现智能冷藏和配送。

1 VC=veture capital风险投资。  2 skew影响……的准确性。