Beyond Meat, known for its plant-based Beyond Burger, is expected to go public.
Alexander Tapia | Oct. 24th, 2018
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El Segundo, California based Beyond Meat. This will be the first IPO for one of several plant-based meat companies who make products that appeal to "flexitarians". (SOURCE: Beyond Meat)
The El Segundo based start-up, Beyond Meat, will be the first of several plant-based meat companies to go public, as reported by CNBC. According to their sources, Beyond Meat has JP Morgan, Goldman Sachs, and Credit Suisse leading the IPO. There hasn't been any word on what valuation the company will seek. The sources asked to remain anonymous since the talks are private. Beyond Meat, JP Morgan, Goldman Sachs and Credit Suisse have all declined to comment.
With the increase in public awareness regarding the health risks and environmental effects of meat consumption, companies like Beyond Meat have been able to create products that look, taste and feel like real meat. These great tasting products (which we have tried numerous times) have contributed to the growing number of people who now consider themselves "flexitarian". By definition, a flexitarian is someone who follows a primarily vegan or vegetarian diet, but occasionally eats meat and/or fish.
Beyond Meat's flagship product, The Beyond Burger, is the first plant-based burger to be sold in the meat aisle alongside animal products. Tyson Foods owns a 5% stake in the company. (SOURCE: Beyond Meat)
It's good to see just how much the meat alternative industry has grown recently. Last year the industry grew by 22%, compared to only 2% growth in the traditional meat business, according to Euromonitor. Even KFC is working on a faux-chicken recipe that it hopes to start testing with customers soon. "We always look to respond to the latest changes in lifestyle and dining habits of our customers," said a KFC spokeswoman in an emailed statement.
There's no denying that plant-based foods have crossed over into the mainstream in 2018. According to Nielson, 40% of Americans are trying to eat more plant-based foods. As of now, about 15% of food and beverage sales are from plant-based or vegan friendly products.
Many of us understand the health benefits and qualities of a vegan lifestyle, but it's also important to recognize the beneficial impacts of vegetarian, pescatarian and flexitarian diets. For one, they're reducing meat and dairy consumption which contributes to the overall efforts of combating climate change. More importantly however, it's worth noting that anyone who finds themselves following either of those three diets is more likely to end up trying (and possibly going) vegan.
Ethan Brown, Founder and CEO of Beyond Meat, a company dedicated to building meat directly from plants. (SOURCE: Beyond Meat)
With all the buzz about veganism, it's easy to see why Beyond Meat has attracted many high-profile investors including Bill Gates, Leonardo DiCaprio, Jack & Suzy Welch, Kleiner Perkins, and (ironically) the worlds largest meat processor in the world Tyson Foods, which owns a 5% stake in the company. This proves that the future is indeed vegan, or to be fair, it (at the very least) proves that the world is starting to realize how important of an issue this has become for all of us.
This year, Beyond Meat was honored by the United Nations with the “Champion of the Earth” award for having created a sustainable alternative to beef. Since 2009, the year the company was founded, Beyond Meat has sold well over 25 million burgers, and has expanded into the European and Asian markets. Even the average consumer can't ignore this level of growth. We can assume dinner conversations are also starting to change too, with more people talking about the correlation between the food we eat and things like climate change or animal abuse. Soon, hopefully, we'll see social responsibility and sustainability become a priority for everyone.
Hey, I'm Alexander Tapia, CEO and Creative Director of No Carne Lifestyle. At No Carne we wear many hats, as you can see. We're a small start up based out of The Bronx, in NYC. I've been vegan since early 2017, but I was vegetarian for 6 years, since 2011.
We look forward to sharing more news and lifestyle content with our audience, and we hope to keep growing our diverse community! You can follow me on Twitter at @djleibro.
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