Why Beyond Meat has succeeded despite a market ‘contraction’
Beyond Meat (BYND) CEO Ethan Brown joins Yahoo Finance Executive Editor Brian Sozzi to discuss the company’s growth since its IPO in May 2019 and some of its new product offerings. Brown notes that in the five years since Beyond Meat’s IPO, the company has seen both “tremendous growth” and a “contraction” in the market, yet still continues to lead the industry: “There’s an enormous disruption in the sense of this is going to be something that displaces animal protein. There was a very big pushback from the animal protein market. That takes time to get through. And I think we’re now beginning to near the end of that and people are starting to see again, ‘Hey, these are really good products for my health. They’re very important for the environment. And most importantly, they taste great.'” He underlines that Beyond Meat has been able to maintain its position in the market by focusing on improving its products. He points to Beyond IV as an example, the company’s fourth generation of meat alternative products. “Beyond IV has an incredible ingredient list. It’s got avocado oil, so it’s considered a heart-healthy oil. It has the endorsement of the American Heart Association from a recipe perspective, has the American Diabetes endorsement, Clean Label Project. So we got all of these tremendous parts of the medical and nutrition community to stand behind Beyond Meat and say, you know what? This stuff is not only really good for you, but we see the consumer saying, you know what? This version tastes even better.” For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Melanie Riehl
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Publish date : 2024-09-04 13:33:00
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