The market has made mincemeat out of BYND in recent months.
However, with a strong plant based food markets, give it time.
According to analysts at Credit Suisse, plant based food could increase 100-fold to $1.4 trillion by 2050. In fact, they believe that a plant-based shift in global food systems in “inevitable,” as noted by The Beet.
Plus, we have to consider that plant based product demand is only getting stronger.
Right now, there are about 80 million vegans around the world. However, that’s not expected to increase, as millions, if not billions of people wake up to the health advantages.
Helping, Beyond Meat is inking major industry deals.
In January for example, it announced it was releasing its chicken alternative at Kentucky Fried Chicken. Even Panda Express and A&W Canada have released menu items with Beyond Fried Chicken. It even released “Beyond Italian Sausage Crumbles” at Pizza Hut in Canada.
Plus, McDonald’s is planning an expansion of its BYND plant based burger this year. “Any move by McDonald’s to sell a plant-based burger widely across its more than 13,500 U.S. locations could be a boon to plant-based meat makers generally and Beyond specifically,” says Reuters.
BTIG analyst Peter Saleh said he expects for the plant based burger to be in about 700 McDonald’s restaurants in February and March. He also sees a national rollout by 2023.
Tyson, Smithfield, Perdue, Hormel, and Nestle now offer plant-based products. Papa John’s now has over 500 vegan friendly stores across the UK. Subway launched meatless sandwiches. Chipotle Mexican Grill just announced a vegan, plant based vegan option. Even Cold Stone Creamery is introducing “Don’t Cry Over Spilled Silk,” a vegan ice cream.
With plant based food demand only likely to increase, BYND could be a top winner.