You Won’t Believe It’s Not Meat!
A new competitor is looking to revolutionize modern eating: The Beyond Meat Burger
Due to growing concerns over the proper treatment of animals, as well as the rising focus on personal health, consumers today are focused on finding healthier, more humanitarian options for their meals. Beyond Meat (BYND) is looking to benefit from these two recent trends with their plant-based burgers, sausages, and chicken strips. These products contain no meat, keeping both the vegan population and the general public healthier and happier, while still looking to maintain the great flavor.
The Beyond Burger is made from plant proteins and starches, and almost perfectly resembles in both texture, smell, and taste, a regular burger. Unlike past veggie or vegan burgers, they have serious potential to appeal to the mainstream food market and consumers. Beyond’s products are distributed by over 30,000 restaurants, grocery stores, and food chains, and their popularity is only growing.
Beyond Meat had the best IPO of 2019 on May 2, in which the share price shot up around 163% from its ipo price of $25. Showing the huge market potential for plant-based meat products with one large customer acquisition after another that have been wowing Wall Street. Since then, the company has been steadily climbing and currently sits around $160 per share.
Since Beyond Meat is a very new company, and that they are in the early growing stages, they have recently reported losses of about 95 cents per share, down from losses of 98 cents per share from the first quarter of 2018. The company is expecting to break even and begin to turn profits faster than they originally expected, something they have not done since their founding in 2009.
Beyond Meat has recently struck deals with big names such as T.G.I. Fridays and Carl’s Jr. and will supply their products to these chains to be distributed to consumers. This will provide Beyond with a larger customer base and increase the popularity of their brand. Allowing them to break into more mainstream markets and focus.
However, Beyond will begin facing some competition. Companies such as Tyson are working on creating a plant-based meat product like that of the meatless burger Beyond. Higher-ups at Beyond believe that their branding will separate them from other food companies attempting to create plant-based meats and are not worried about this competition.
The future of Beyond Meat is looking bright, as the company is expected to see returns by the end of 2019 or the start of 2020.
Written by Ramsay Bader, Edited by Paul Luu Van Lang & Alexander Fleiss