Beyond Meat is facing increased competition as demand heats up
Cargill is entering the increasingly crowded alternative-protein marketLater this week when Beyond Meat opens the books on its fourth-quarter performance, investors are likely to be watching two things closely. One is the California-based alternative-protein company’s response to increasing competition. The other is how it will cope with rising demand.
While the Cargill announcement came after Q4, it could be interesting to see whether BYND management discusses it in its conference call scheduled for Thursday, Feb. 27 after the market closes. If management doesn’t talk about Cargill in particular, perhaps they'll address BYND’s strategy to deal with the sizzling competition in general.
And then there's MCD. Last month, the burger behemoth announced the expansion of a test run for its plant-based burger—which is made with a BYND patty—to 52 restaurants in Ontario from 28. And Dunkin’ Brands Group in October said it would roll out its BYND plant-based breakfast sausage patty nationwide in November, sooner than originally planned.
The alternative-meat industry “is in its infancy stage and is being fueled with an enthusiasm for a future where meat is separated from animals, so that consumers can enjoy meat absent the emerging concerns regarding its health, or the environmental or animal welfare impact,” investment research firm CFRA said in a recent research note.
While increased competition played a role in the down move, the selling was likely also related to a lockup period that expired in October, freeing pre-IPO investors to cash in on their gains. Prior to that, some investors may have been selling in anticipation of the selling.
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