Beyond Meat to start plant-based meats production in Europe next year

Grant Boone
May 31, 2019

With Impossible Food's patty recently being introduced in Burger King's Whopper sandwich, Beyond Meat looks to get a step ahead of its main competitor. A J.P. Morgan analyst, Ken Goldman, estimates that fueled by the younger, health-conscious consumer base, the market for plant-based meats could be worth Dollars 100 Billion in 15 years with Beyond Meat taking a 5% share.

Companies in these fields and areas are estimated to make over $140 billion in the next ten years.

The IPO comes amid growing consumer interest in plant-based foods. And Coles is getting in on the act with two new meat-free burgers that even diehard meat eaters can't pick from the real thing. Since their market debut on the 2nd of May, Beyond Meat's shares have grown 85%.

The fake meat firm's share price climbed more than twice their price of $25, on the Nasdaq Thursday day to $59.

Vuong says that considering Australia is still a small industry, more Australian manufacturers are expected to expand into the plant-based food market to take advantage of the strong gains. USA sales of plant-based meats jumped 42 percent between March 2016 and March 2019 to a total amount of $888 million while conventional meat earnings rose only 1 percent to $85 billion, according to Nielsen.

According to Barclays, "Sustainability is increasingly more relevant as consumers, especially Millennials and Gen Z, have become more aware of the damage that food production has caused to the planet,".

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El Segundo, Calif. -based Beyond Meat's CEO, Ethan Brown, believes that the future of vegan meat products remains positive.

It is the first time a maker of plant-based meat is moving public.

While Beyond Meat short sellers may have been hoping for a bevy of bad news, notes from the top analysts initiating coverage on the El Segundo, California-based startup were mostly neutral.

Meanwhile, followed by the statement, JPMorgan analysts had been quoted saying that the company's potential for growth was "extraordinary", which had surged the LA-based company's share more than 7 percent on Tuesday (May 28th).

However, the company has never produced a profit.

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