As previously predicted, the multi-billion dollar food powerhouses are moving rapidly into the retail space with more offerings coming soon. Easy-to-cook plant-based patties and links that are seasoned to perfection and ready to power your day. That’s a market cap of $8.8 billion for a company with 2019 revenues of $297 million and no profits. Beyond Meat has 472 employees and is ranked 2nd among it's top 10 competitors. is a key component of that strategy, by which Beyond Meat continues to rack up wins. To put this into perspective, sales of plant-based meat substitutes in the 12 months from June 2017 to June 2018 amounted to $670 million, while processed meat sales (excluding organic) were $200 billion while overall meat sales for the same year were $270 billion (including organic). The company announced another round of funding shortly after the IPO of Beyond Meat, raising $300 million. Perfect Day. Workplace diversity can also act as a major business strength, particularly when the organisation intends to operate in the international market. In reality, Beyond Meat is still a small company. Fake meat is a highly processed food. I am a Wealth Advisor at Alpenrose Wealth Management, advising a global clientele on multi-generational wealth management, with a passion for impact investing. The company’s aim was to change the world and try to slow down average meat consumption for the well-being of humans and animals. Impossible Foods is possibly the closest and most comparable competitor to Beyond Meat. Memphis Meats has so far raised $20.1 million in funding, from investors such as DFJ and Tyson New Ventures (Tyson, one of the largest meat production and manufacturing companies in the world, was previously also an investor in Beyond Meat, but exited prior to the IPO). The appeal of this for investors is very clear: It creates an entirely new potential market. Natasha transitioned to venture capital after a career in banking, built in prestigious firms such as JPMorgan and A&M. Several of Beyond Meat’s competitors, including Hormel, Nestle, Kellogg, Tyson, Kroger, ConAgra, and Kraft Heinz, enjoy key competitive advantages: Shelf space – … Beyond Breakfast Sausage ® Go Beyond Breakfast. learn more go beyond breakfast sausage ® learn more go introducing plant-based links coming to the fresh meat aisle throughout october. Not only is Beyond Meat seeing exponential growth, but chains like Burger King, Carl's Jr., TGI Friday's, and White Castle are jumping on the plant-based burger trend, taking the niche product mainstream. In a way, these are a modern incarnation of Slim Fast shakes. View the BYND annual company financial performance report by date. Even though sales are growing at the company, the sales multiple implied by the stock price is out of line with anything seen in the food sector. He lists the impressive environmental advantages as 90% fewer greenhouse gas emissions, 99% less water, 93% less land, and 46% less energy for the production of Beyond Meat compared to regular meat. Beyond Meat will face difficulty maintaining an innovative edge over its peers, who already spend much more on research and development (R&D). And based on the numbers, things couldn’t be going much better for the California plant-based protein company. However, Beyond Meat isn't the only supplier here. It's clear that the alternative meat space is hot. All Rights Reserved, This is a BETA experience. ... A Competitive Landscape. Find Near You . Timothy Madden, PhD moved How sustainable is Yeti's competitive advantage? The well-developed and efficiently integrated IT infrastructure of Beyond Meat Changing Consumers Meat Preference allow it to take advantage of emerging innovative technologies (S7, O3). The high cost of alternatives is often cited as a reason for their limited market share and the resilience of meat sales. Beyond Meat's latest rival Driven by a desire to be more health conscious and thoughtful about environmental issues, many consumers have been increasing their consumption of … You may opt-out by. Impossible Foods’ production issues include reallocating some staff from the R&D department to production and packaging while it improves its production facility. A prominent company in dairy alternatives in the US is Kite Hill, which produces a full-range of dairy alternatives from plants and has raised a total of $65.5 million including a $40 million round in the fall of 2018. In November 2020, Beyond Meat announced sales had only grown by 2% year-on-year compared to an expected increase of 40%. Beyond Meat is excited to announce we’ve arrived in China! For decades, it was synonymous with photography. How sustainable is Yeti's competitive advantage? That’s a market cap of $8.8 billion for a company with 2019 revenues of $297 million and no profits. Beyond Meat is Impossible Foods's #2 rival. Humans never eaten ingredients contained inside this one. Memphis Meats does not yet have a commercially viable product. Basically, Ethan Brown plans to make their next iteration of the Beyond Burger even better, both on taste and nutrition. The real runaway success in the field, however, is Swedish company Oatly. Impossible Foods is creating “bleeding” burgers and is currently working on replicating whole cuts of meat. Find it in the meat aisle. The superior scale of Beyond Meat’s peers will also challenge what the firm believes to be a critical competitive advantage – its innovation. Investors are counting on the sector growing and on the technology and production abilities of the company growing. Similarly to Beyond Meat, the company was founded out of environmental concerns and the view of using science to recreate the texture and characteristics of meat using plant-based proteins. That though is not an enduring competitive edge. Beyond Meat Inc. 10K SEC filings breakout by MarketWatch. Sancerre - The World’s Greatest White Wine? This gives credence to the idea that the company can convert clients with more traditional diets, and not just vegans, to their products. The founders of these companies have as their stated objective a revolution in the way an important food group is produced: Certainly, this will affect life and livelihood in the rural areas that produce it and for all that are participating in its current production chain. Its trademark Impossible Burger is now sold at chains such as Burger King, Applebee's, and Cheesecake Factory. He reiterated that Beyond Meat could “hit the jackpot” by steadily improving its taste, quality and nutritional value — while also lowering the price. And spend very little time worrying about the competition. This is also reflected in global data about meat consumption: Meat consumption rates have shot up globally, with production today five times higher globally than 50 years ago. While Apple wasn’t the first company to make a cell phone, it was the first one to reinvent it, creating an army of brand loyalists along the way. Beyond Meat trades on the United States NASDAQ exchange under the symbol BYND. As an extension of this work, I’m particularly excited about companies that offer innovative solutions to reduce the impact that agriculture has on human health, climate change, water scarcity, and animal welfare. Memphis Meats is a much younger competitor in the space, established in 2015, and one that takes a slightly different approach. The Beyond Meat company was founded in 2009 by Ethan Brown, a Californian entrepreneur and vegan with a focus on environmental topics. The … The meat-alternative market is a nascent, yet fast-growing, domain with tremendous growth potential. It forces you to think critically about the company and market it operates in. Beyond Meat had many high profile investors, including Bill Gates and Twitter co-founders Biz Stone and Evan Williams.2 Beyond Meat’s vision was for consumers to enjoy a meat-like taste and texture in their favourite dishes while avoiding many chemicals that were used in processed meat and reducing the number of animals killed every year for their meat. (W8, O6). Sanjay's focus on making operational excellence a sustained competitive advantage, his experience in and appetite for global expansion, along with shared values and a tireless work ethic, makes him a welcome addition to the Beyond Meat family,” said Ethan Brown, President and Chief Executive Officer of Beyond Meat. That though is not an enduring competitive edge. We believe we’re focusing on the right areas to ensure we stay ahead of the curve,” says Brown. This section will briefly cover both the direct competition that Beyond Meat faces in the plant-based meat sector, as well as other companies that operate in the same space, such as meal replacements and dairy alternatives. Yet whether its Beyond Meat or another fake meat producer, “having a competitive edge in [research and development] is how these companies can differentiate and grow,” Sundaram said. I survey the state of Beyond Meat's current competition. Memphis Meats is a company established in 2015 that is creating a meat alternative in the lab much like its competitors, but is using animal stem-cells to do so. The company's initial products were launched in the United States in 2012. One of the most notable cultural developments of recent years has been the boom in veganism, sparking endless think pieces and getting covered even in economic-focused publications like the FT. Many are starting to change their meat consumption, for environmental and health concerns. To conclude, it would be fitting to look at what the reaction of the incumbents in the meat industry has been to this surge in food innovation. And yes, it’s likely to drop lower today due to the expiring lock-up period for its early investors. Founded in 2009, Beyond Meat has enjoyed an early-mover advantage. Yet whether its Beyond Meat or another fake meat producer, “having a competitive edge in [research and development] is how these companies can differentiate and grow,” Sundaram said. Beyond Meat Stock Price (as of July 3, 2019). Beyond Meat says it’s not using genetically modified ingredients. In fact, its IPO was the best performing one for a company listing for over $200 million since the financial crisis of 2008. Find patties in the frozen aisle, links in the fresh meat aisle. Together they have raised over 2.0B between their estimated 1.8K employees. But if you zoom out a bit, there is a lot for Beyond Meat and its investors to be happy about. The last point to address is perhaps the biggest obstacle to be solved for alternative meat producers: can the production cost of their products be brought down in line with those seen in animal meats? Finally, one point worth highlighting is that meat alternatives are still very expensive compared to traditional animal meat. I was selected for Investment News' 40 Under 40 list and Forbes' inaugural list of America's Top Next-Generation Wealth Advisors. With very little to differentiate between competing alternative meat products, the firms with the scale and financial muscle will win in the end. "Three stocks that are just sort of crazy nosebleed valuations," said Trainer. EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, Michigan Economic Development Corporation With Forbes Insights, Oat Milk, Yeast And… Crab? The company is forecasting sales of $210 million for this year, breaking even. A new crop of meat-alternative and other plant-based foods companies are emerging; while veggie burgers and sausages have long existed, what makes these new companies interesting is that they are trying to replicate meat synthetically, creating a product that resembles meat very closely and, thus, will be marketed primarily toward non-vegans and vegetarians. Typical EBITDA multiples for food processing are 11.92, which demonstrates that BYNDis seen as an incredibly innovative company, but also that foreseeable growth is fully priced in. Shares of … goes beyond beyond italian sausage pizza, available for a limited time at pizza hut nationwide. Yes, their stock is down big from its high earlier this year. While Beyond Meat has first mover advantage, as MySpace once did, it has yet to prove what I call “second-mover” advantage, like Facebook (NASDAQ: FB). BEYOND MEAT: CHANGING CONSUMERS’ MEAT PREFERENCE Beyond Meat, a producer of plant-based meat substitutes, was founded by Ethan Brown and Brent Taylor in 2009 in Los Angeles, California. The current stock price of $150 gives a market capitalization of $9.109 billion, or a P/S ratio of 43.3x, which is higher than what Google saw when it went public. Total sales surged 250% to $92 million, ahead of forecasts for $83 million. It's clear that the alternative meat space is hot. Baker McKenzie advised Beyond Meat, a leader in plant-based meat, on its acquisition of their first manufacturing facility in Europe, located in Enschede in the Netherlands. This market has garnered increasing interest from investors, who have invested more than $16 billion in the space, including $13 billion in 2017 and 2018 alone. While the meat-alternative market is only a fraction of the entire market for meat, particularly when taking a global perspective, the growth rates it has seen certainly do bring it to the attention of meat executives. Beyond Meat is a well-known producer of plant-based meat products and has a competitive advantage of innovation. This phenomenon is not solely driven by the increase in living standards in the developing world. What was once a niche habit, preserve of staunch environmentalists, has officially become mainstream. This will also make life a lot easier as it expands further into Europe and Asia, key growth markets for Beyond Meat. ET Hungry Planet offers plant-based meats. Beyond Meat opened for trade July 2 at about $145 per share. The Ratings Game Beyond Meat is a ‘disruptor’ as plant-based meat industry sales poised to reach $100 billion Published: May 29, 2019 at 3:42 p.m. In addition to Beyond Meat, Impossible Foods has raised a significant amount of … "Between Impossible Foods and Beyond Meat, we … With the current high production costs and accessibility issues, meat alternatives are most likely to be a novelty, occasional splurge purchase by wealthy, health-conscious urban dwellers. In Beyond Meat’s analytical lab, scientists work to identify the signature aroma molecules of meat, and then source those same molecules from simple, non-GMO, plant-based ingredients. At one point, the stock even broke the $200 barrier, trading at 800% of its initial offering price of $25. Australian company Beyond Meat’s plant-based meats not only look and taste like the real deal, but also cook similarly and have a similar nutritional profile, with 20g of plant protein per serving. Think of it like Apple and the iPhone. The disruptive value of these types of products is more limited: While there are certainly many use cases for instant and nutritious food, there may be considerable psychological barriers to full-scale adoption of such products, which are most likely to remain an occasional alternative for a specific demographic. The number of vegetarians, according to the poll, was stable at 5% over the same period. Beyond Meat's headquarters is in El Segundo, California, and was founded in 2009. Demand for meat is increasing worldwide and we may not be able to provide an adequate supply This startup has also raised $200 million over six funding rounds and recently started exploring the meat alternative market. Beyond Meat does, however, remain one of the fastest growing food companies in the world—its volume sold (fresh + frozen meat) increased over 3.8x from 3.98 million pounds in 2016 to 15.24 million pounds in 2018. Next Level Burger. Actions. Plant-based meat has blown up this year, especially after Beyond Meat's blockbuster IPO that sent shares up more than 800%. … Mainly, that the company is on track to achieve its ultimate goal, which is to become the dominant global protein company. JUST is the new name that egg alternative company Hampton Creek has adopted after becoming embroiled in a series of scandals, including the departure of most of its board. Listen to the audio version of this article. Still, despite the advantage, Asia can prove “a bit more challenging,” given the region’s varying palates, McLee said. Classic Product Details GO. In a letter included with the prospectus for BYND’s IPO, Ethan Brown revealed that he sees the nutritional benefits of meat, but that he aims to remove the connection of meat to the animal that it came from, seeing it instead as “meat by composition and structure—amino acids, lipids, trace minerals, vitamins, and water woven together in the familiar assembly of muscle, or meat” and pushes for a technological innovation in production that bypasses the animal and uses technology to achieve the same composition and texture. According to Brown, every day he’s on the treadmill at 5am thinking of ways to make their product better. High product quality increases brand loyalty and improves Beyond Meat Changing Consumers Meat Preference's performance in a competitive market. I was…. (above articles posits exactly that) I would say that it is the biggest risk for the company and the whole fake meat niche. It is announced that the company will open a production facility in Shanghai. By continuing to use this site you agree to our. Candidates are considered for employment without regard to race, creed, color, national origin, age, sex, religion, ancestry, veteran status, marital status, gender identify, sexual orientation, national origin, liability for military service, or any other characteristic protected by applicable federal, state, or local law. Nonetheless, Wall Street equity analysts seem unsure of whether the company can sustain such a high valuation, with most having the stock rated as a hold. Subscription implies consent to our privacy policy. This Beyond Meat owned facility will be the first outside of Missouri, USA to handle Beyond Meat's innovative approach to texturizing plant proteins, the first step in the company's manufacturing process. Is this different than other recent food trends? Impossible Foods' rival Beyond Meat went public in May, but Brown doesn't see the competition as an issue. It's clear that the alternative meat space is hot. The company has products designed to emulate chicken, beef, and pork sausage History. Beyond Meat is an equal employment opportunity employer. What are their key resources / capabilities? He reiterated that Beyond Meat could “hit the jackpot” by steadily improving its taste, quality and nutritional value — while also lowering the price. The opening of the new co-manufacturing facility was announced on 11 June 2020. A recent poll by Gallup puts the number of vegans in the US as approximately 3% of the population, a small increase compared from the 2% reported in 2012. Beyond Meat will face difficulty maintaining an innovative edge over its peers, who already spend much more on research and development (R&D). Innovation tools like Beyond Meat's "E-Mouth" will be critical to staying ahead of the competition ... [+] on taste and nutrition. SWOT analysis is a great tool for analysis of some company. The success of initiatives like “Meatless Monday” speaks to this trend, which is spreading amongst younger people. She also has hands-on experience with startups, helping CyNation and EstateGuru raise funding and expand to the UK. Beyond Meat's CEO describes animal protein as the company's "true north," saying on the plant-based "meat" company's earnings call in July that the company is "maybe 75% of the way there." Founded in 2009, Beyond Meat has enjoyed an early-mover advantage. Impossible Foods . The company also optimized its production process into three separate phases, enabling better efficiencies to continue lowering costs along the way. 11.92, which demonstrates that BYNDis seen as, The Advantages of Hiring a Fractional CFO, How Freelance Finance Consultants Are Beating Big Firms, Building the Next Big Thing – A Guide to Business Idea Development, Reorganizing for Survival: Building Scenarios, A Month in the Life - Interim CFO Roles and Best Practices. Candidates are considered for employment without regard to race, creed, color, national origin, age, sex, religion, ancestry, veteran status, marital status, gender identify, sexual orientation, national origin, liability for military service, or any other characteristic protected by applicable federal, state, or local law. The mission of the company is focused on plant-based meat alternatives, using pea and other plant protein isolates. Beyond Meat is committed to getting into supermarkets, where large numbers of shoppers rolling carts by the meat section can take a look at its product, probably for the first time in their lives. “We try not to get too wrapped up in the short term nature of the earnings cycle,” says Brown. Another related category of new products that has attracted considerable investor attention has been that of meal replacements, such as American company Soylent, British company Huel, or French company Feed, who have raised $72.4 million, £20 million, and $21.5 million, respectively. Why does a cooler company that lost almost $40M in one quarter have a potential IPO valuation of $5B? There is still time to grow before that trend changes. Beyond competitors, there are other weakness or threats and they should be mentioned for this company and the whole niche. The company can maintain its competitive advantage and company profile by continuing to invest time in researching better options to innovate and produce better quality and healthy products. Nothing captures the zeitgeist more than the Beyond Meat company IPO in May 2019, which has been one of the stand-out financial events of the year. She is now a part of the investment team at a venture capital fund, where she evaluates over 1,000 startups a month. “When we look at our trajectory, the QSR partnerships we’ve cemented, and the hires we’re making to enhance our global expansion, we feel really good about the path we’re on.”. Beyond Meat Changing Consumers Meat Preference can improve the customer service to generate the positive word of mouth on different social networking sites (W8, O6). Spicy Product Details GO. … This section will briefly cover both the direct competition that Beyond Meat faces in the plant-based meat sector, as well as other companies that operate in the same space, such as meal replacements and dairy alternatives. As mentioned, the rise of veganism is a well-documented trend, but it is hard to find reliable statistics to back this up with quantitative evidence. This product is not properly tested and it could turn out as detrimental to human health. Gross profit margin surged to 35.6% from 19.2% a year ago. It is worth mentioning dairy and egg alternatives in this piece, seeing how successful some of these companies have been and how much funding they have been able to raise. Meat Consumption in the US Historically (Left) and in 2017 (Top Right) vs. Globally (Bottom Right). Tyson and its competitors will most certainly have M&A ambitions when the sector matures and technologies become more profitable. Image source: Beyond Meat. Beyond Meat opened for trade July 2 at about $145 per share. © 2020 Forbes Media LLC. Beyond Meat's CEO describes animal protein as the company's "true north," saying on the plant-based "meat" company's earnings call in July that the company is "maybe 75% of the way there." I would still invest in the company because there is still a relatively low awareness of processed food toxicity in US and rest of the world. He would be a seller of Beyond Meat Inc (NASDAQ: BYND), Wayfair Inc (NYSE: W) and Peloton Interactive Inc (NASDAQ: PTON). An interesting report from CB Insights breaks down the costs. Tyson Foods, as discussed above, is currently an investor in Memphis Meats, and was a shareholder of the Beyond Meat company, holding a 5% stake up to the IPO. The Eastman Kodak Company was an iconic industry leader. Does it have a competitive advantage? However, it has probably been the biggest sales and marketing success for plant-based foods, with word-of-mouth and clever marketing propelling the brand forward, creating shortages and innumerable articles on how delicious oat milk is. First-Mover Advantage Is Fading Fast for Beyond Meat As the plant-based meat field gets crowded, BYND stock holders might get left behind By David Moadel, InvestorPlace … What was once a niche habit, preserve of staunch environmentalists, has officially become mainstream. Brown strongly believes that continuously innovating will be the reason Beyond Meat stays ahead of the growing competition and remains the market leader well into the future. Natasha transitioned to venture capital after a career in banking built in prestigious firms such as JPMorgan and ESM. Classic Product Details GO. In fact, meat consumption is increasing, but the type of meat preferred is changing, with poultry overtaking beef, in a trend consistent with health and environmental concerns linked to beef and meat production. Another element of the topline opportunity is the competitive dynamic. The end product would therefore not be plant-based or even vegetarian, but still an environmentally friendly meat product. In 2020, Beyond Meat launched an e-commerce site to sell products directly to consumers. No revenue figures are disclosed for Impossible Foods, but the company has struggled with meeting demand for its products as it launched some national projects, such as the cooperation with Burger King. Beyond Meat released their Q3 earnings report Tuesday. The top 10 competitors in Impossible Foods' competitive set are MorningStar Farms, Beyond Meat, Gardein, Boca Foods Company, Sweet Earth Foods, Hungry Planet, Inc., Next Level Burger, Clara Foods, Seattle Food Tech. Find Near You. Beyond Meat's improbable run post-IPO has been noticed by major competitors eager to take a bite out of the massive addressable market. They have interests in other similar startups and are watching the space, despite only 18% of their revenues currently coming from non-animal foods. Like this for example https://www.gmoscience.org/rat-feeding-studies-suggest-the-impossible-burger-may-not-be-safe-to-eat/. Privately held Impossible Foods may be its biggest challenger. The Ratings Game Beyond Meat is a ‘disruptor’ as plant-based meat industry sales poised to reach $100 billion Published: May 29, 2019 at 3:42 p.m. is a key component of that strategy, by which Beyond Meat continues to rack up wins. Yet, despite all of these wins and important milestones, Ethan Brown believes that the key ingredient to Beyond Meat’s continued success is, without question, innovation. The Foods That Saw Sales Surge In 2020, Champagne Recommendations - Brilliance From Billecart Salmon And Taittinger. Beyond Meat wasn’t necessarily the first company to attempt to popularize plant-based meat alternatives. Oatly cannot be properly classed as a startup, as it has existed since 1990, and has only received one private equity funding round. I am a Wealth Advisor at Alpenrose Wealth Management, advising a global clientele on multi-generational wealth management, with a passion for impact investing. This market has garnered increasing interest from investors, who have invested more than $16 billion in the space, including$13 billion in 2017 and 2018 alone. The stock was initially offered at $25 and immediately jumped in price, exchanging hands on May 2nd at $45. This article analyzes Beyond Meat’s stock performance, the history of the company, the market for meat alternatives, and some of its competitors. Beyond Meat, up 72% this year, has been bid up on high growth potential. Let’s Refocus Agri-Food Tech To Solve Today’s Critical Problems, Adapt Or Die: Molson Coors Turns To Partnerships, Non-Alcoholic Beverages For Growth, Brewers, Winemakers And Distillers Have A Little-Known Reason To Cheer Federal Covid Relief, New Napa Treasures From Cuvaison And Brandlin, Consumer Companies Are Accelerating Investments In Regenerative Agriculture To Combat Climate Change, Autonomous Food Delivery Predictions For 2021 And Beyond, A Grocery Revival? Another interesting point is that the company targets a mainstream market: They quote a statistic highlighting that 93% of shoppers at Kroger in the first half of 2018 that bought a Beyond Meat product also bought regular meat. Not only that, but the latter would also probably not be affected by the loss of jobs and income in the agricultural sector that would come to pass were plant-based alternatives really to go mainstream. Memphis Meats is creating a meat alternative in the lab much like its competitors, but is using animal stem cells to do so. “Our goal is to increase availability of plant-based meat globally, providing consumers with … Effectively, he and the other mission-driven folks at Beyond Meat are like mad-scientists with a burning desire to help consumers find and enjoy sustainable protein. Beyond Meat is a Los Angeles-based producer of plant-based meat substitutes founded in 2009 by Ethan Brown. However, Beyond Meat's continual focus on improving product quality may give it an advantage over the long-term. Impossible Foods' rival Beyond Meat went public in May, but Brown doesn't see the competition as an issue. She joined Toptal to keep her skills up to date and help entrepreneurs access funding. Together they have raised over 681.8M between their estimated 2.0K employees. Does it have a competitive advantage? Sales are projected to double again in 2019. Like Impossible Foods, Beyond Meat also competes in the Food Processing space. These companies are producing nutritionally balanced, predominantly drinkable substitution meals, which are meant to be entirely plant-based and vegan, affordable, and convenient. While chatting with CEO Ethan Brown today, he was very upbeat about the company and what lies ahead. Beyond Meat has had ... there will be extra pressure on Beyond to perform against established food companies with brand recognition and a competitive ... 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Financial performance report by date years has been noticed by major competitors eager to take a out!
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