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The Billion-Dollar European Caviar Business, Now Disrupted by China
In the kitchen of a Michelin three-star restaurant in Beijing, the chef carefully opens a tin of black "treasures." Each translucent caviar pearl inside is immensely valuable, with prices reaching as high as 10,000 RMB per kilogram. Yet this "black gold" caviar does not come from the Caspian Sea or the Volga River. Instead, it originates from Quzhou, Zhejiang, China. This seemingly impossible fact marks a silent revolution in the Chinese caviar industry.
Nov 08, 2024 01:52 PM
Research
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Recently, the announcement that Din Tai Fung would be closing all its locations in the Beijing area has sparked widespread discussion within the industry. However, in stark contrast to adjustments in the domestic market, this Taiwanese xiaolongbao (soup dumpling) brand, founded in 1958, continues to enjoy overwhelming demand in overseas markets.
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Din Tai Fung and the Globalization of Chinese Cuisine
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