Beyond Meat, the company created by vegan Ethan Brown in 2009, is planning to go public on the Nasdaq (BYND) to raise the money it needs to grow its line of plant-based meats. It is expected that the company raises $100 million.
Beyond Meat is a vegan company producing all sorts of plant-based meats including burgers, bacon, chicken and sausages.
The company expects to profit in the forceable future from the rise of the alternative meat category consumption and to take significant share from the $1.4 trillion global market for meat. The company is planning to mimic the strategy used by the plant-based dairy industry, which currently is the same size as about 13% of the dairy milk industry at about $2 billion in 2017.
Beyond meat has major investments from Bill Gates, Leonardo di Caprio and former McDonalds CEO Don Thompson
How is the ‘meat’ produced?
Beyond Meat emphasizes that their meat looks, cooks and tastes just like normal meat. This is because meat is made up of four building blocks: fat, proteins, minerals and water. The company find these same building blocks in the plant kingdom to rebuild meat without sacrificing taste or texture in a more sustainable way.
The company uses Peas, brown rice and mung beans for protein, beets for colour and potato starch and coconut oil for juiciness, which is the main signature for the traditional hamburger.
The rise to Veganism
Veganism has been growing a lot over the last couple of years due to the increased awareness against animal cruelty, traditional farming procedures and climate change.
Statistics show that to make a single pound of beef, it takes an average of 308 gallons of water. Furthermore, 9% of US greenhouse emissions comes from agriculture, and from that, 1/3 comes from methane emitted from cow digestion.
In 2018, US retail sales of plant-based meats grew by 24%, whilst animal meats grew just by 2%.
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