Fast Food Expansion
Expect to find more Beyond Meat products in your fast food next year as the company gains broader consumer acceptance of plant-based meat as a menu staple. Having won a huge partnership with McDonald's, they launch Beyond Burger in 7,000 CVS locations nationwide by January. To add to the success, their products will also be the key ingredient in Yum Brands' products (Pizza Hut, KFC, Taco Bell) nationwide – and in China! Not to be left out, the plant-based-burger will also be available in hundreds of Alibaba’s Freshippo stores across the mainland.
Post Pandemic Gains
Beyond Meat is positioned to benefit from the pandemic in the long term due to a growing consumer demand for healthier food alternatives as families are forced to make their food budgets stretch further. Though it’s a relatively new category, the plant-based meat industry is projected to hit $140 billion in sales over the next 10 years according to Barclays and the younger generation is heavily focused on sustainability only adds further confirmation.
With the craze around the stock and the consumer eating everything in sight, two major players have entered the mix with the potential to knock out Beyond Meat from its leadership position.
Impossible Foods, a privately owned company, is quickly catching up by securing its own fast food deal with Burger King and growing its retail foot print from 150 locations to more that 5,000 this year. Foodies swear that Impossible Burger is superior to Beyond Burger because of a key ingredient that makes it “bleed” like real beef. While Tyson Foods, the country’s largest meat producer has also entered the vegan meat scene with plant-based meat products bearing its more recognizable brand in 7,000 stores across the US.
Even so, the addressable market should be more than ample to let these titans duke it out and consumers be all the better for it.