In an attempt to scale up, reduce costs, and test new opportunities, Beyond Meat acquired its Pennsylvania co-packer for $14.5 million. The company also actively acquires smaller players in the meat replacement industry to expand its product line, brand base, and consumer reach. The company invests heavily in R&D and facilities, allowing them to create products that compete with Meat in flavor and texture. With innovation and R&D at the core of the company’s business, Beyond Meat is looking into new ways to create more products that resemble meat as closely as possible. Their current best-selling product, the Beast Burger, is aimed at flexitarians and meat lovers with its bleeding nature and lookalike taste. With pork, beef, and poultry at the top of the meat industry, Beyond Meat is looking at a big market space by focusing on these three consumer types. In a bid to capture this broad industry, the company focuses on three main consumer bases of new-age vegetarians, flexitarians, and meat lovers. As a result, they plan to expand their market share in the 1.4 trillion meat industry through their existing and new products. Its goal is to provide consumers with delicious and nutritious, plant-based meats to reduce the environmental impact of animal agriculture. Beyond Meat Business Strategyīeyond Meat is one of the fastest-growing companies in the food industry today. The company also reported assets amounting to $1.467 billion, representing a 183.13 percent increase Y/Y. As of September 7, 2021, the company had a market cap of $7.29 billion and approximately $0.063 billion shares outstanding for the quarter ending June 30, 2021.įor the second quarter of 2021, Beyond Meat recorded revenues amounting to $149.4 million, which increased 31.8 percent from the previous year’s second quarter. Their products are sold in over 119,000 retail stores and food outlets in about 80 different countries. ![]() ![]() Founded in 2009 by Ethan Brown, the company continues to grow rapidly and boasts investors including Bill Gates, Kleiner Perkins, Obvious Corporation, and Humane Society of the United States.īeyond Meat is competing in a market that includes animal meat, substitutes, and processed meats. The products are designed to resemble animal products in taste, texture, color, and smell. Beyond Meat is an American company that manufactures plant-based meat substitutes.
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