Beyond Meat is one of the pioneering companies in the plant based alternative meat proteins and it’s again on the march. The company is increasing it’s manufacturing facility from some 30,000 to 100,000 sq feet and will triple it’s production capacity. Even this increased capacity will be tiny compared to the conventional meat industry’s capacity but it’s exponential growth, so keep that in mind.
Beyond Meat estimates that 70% of it’s customers are flexitarians, people who “flex” between meat and vegetarian products, so they see their competition being the conventional meat industry and many companies, including investor Tyson Foods, are putting their money where their mouth is. Millennials lead the ethical charge for plant based products and when they reach their full food purchasing potential the impact will reverberate through the conventional meat chain.
There’ll be room for conventional meat and all the other Cellular Ag and alternative proteins for some time to come as we’re going to need every weapon in our armoury to feed 9.7 bn people in 2050. If or when one or the other “loses” is the great unknown but it sure will be interesting!
You can watch the video as well.