Earlier this week, we highlighted Beyond Meat (BYND) as a potential opportunity.
At the time, it traded around $63 a share.
Today, it’s up to $66.75 on news McDonald’s is rolling out a test of BYND’s plant based burgers in 600 stores in Texas. It’s also up on news it will release a vegan beef jerky snack as part of its collaboration with PepsiCo.
“Beyond Meat and PepsiCo established the Planet Partnership last January with the goal of developing and producing plant-based snack and beverages. The vegan beef jerky would be the first product of the joint venture, Bloomberg reported, citing people familiar with the matter,” according to CNBC.
While the BYND stock has seen better days, 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, 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.
