Beyond Meat thinks it can make traditional animal-based meat a thing of the past.
Beyond Meat Inc.’s Chief Executive Ethan Brown has a lofty goal for his plant-based meat product: he wants to replace traditional animal meat entirely.
Beyond Meat shares priced at $25 on Wednesday and began trading Thursday on the Nasdaq at $46. Prices neared $73 at their intraday peak. Beyond Meat closed at $65.75 Wednesday.Brown says there are four factors that are driving consumers to Beyond Meat: health, climate , environment and animal welfare.
“With 60% of U.S. consumers telling NPD they want to get more protein in their diets, consumers are mixing both meat and plant-based proteins into their diets,” wrote NPD Group in a June 2018 report. At that time, 14% of U.S. consumers, or 43 million people, said they regularly used almond milk, tofu, and other plant-based alternatives.
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