Beyond Meat (NASDAQ:BYND) is a California-based food company that offers a portfolio of plant-based meats. The flagship product at Beyond Meat is The Beyond Burger, which is designed to look, cook, and taste like traditional ground beef.
The move towards plant-based meats is in line with generational trends that are curving away from animal-based proteins. Younger demographics are more likely to be vegan or vegetarian, and the broader food industry is taking notice.
Beyond Meat was started by Vegan Ethan Brown in 2009. Even Canadian companies like Maple Leaf have moved to include plant-based alternatives in their portfolio.
A 2018 GlobalData report revealed that 70% of the world population is either reducing meat consumption or leaving it off the table altogether.
The report goes on to say that millennials are the key drivers behind this trend. The shift to plant-based proteins has also become a popular push among global influencers. These are all positive signs for Beyond Meat.
Beyond Meat had its initial public offering on May 2. The stock soared 163%, which was the best starting day for an IPO since the financial crisis. Shares jumped another 7.32% to open the week on May 6.
Beyond Meat has seen its market capitalization quickly shoot above the $4 billion mark in three days of trading.
The high valuation may scare away some investors in May, but Beyond Meat is a tasty long-term addition considering the long-term trends in this industry.
