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Beyond Meat tacos tonight! Yum!
Beyond Meat’s Cutting Edge Facility is Unveiled in Shanghai to Serve China’s Growing Plant-Based Market
April 7, 2021 Companies & Portraits, Hot Off The Vegan Press
Following the announcement last September that Beyond Meat was to open a production facility in China, marking its first manufacturing facility outside the US, Beyond today announces the unveiling of the new facility in the Jiaxing Economic & Technological Development Zone (JXEDZ) near Shanghai, making it the only multinational company focused solely on plant-based meat production to open its own production facility in China.
Beyond Meat will also be opening its first owned manufacturing facility in Europe later this year.
The announcement comes just one year after the company first entered mainland China through a nationwide partnership with Starbucks China. The facility will produce Beyond Pork, its first innovation created specifically for the Chinese market, as well as beef and poultry products. The facility will also feature R&D capabilities to create further unique product offerings for the region.
In its first year on the Chinese market, Beyond has expanded across Starbucks, KFC, Pizza Hut, Jindingxuan, GangLi Beijing, Slow Boat Brewery, Hema, METRO China and more.
©Beyond Meat
“The opening of our dedicated plant-based meat facility in China marks a significant milestone in Beyond Meat’s ability to effectively compete in one of the world’s largest meat markets. We are committed to investing in China as a region for long-term growth, and we believe this new manufacturing facility will be instrumental in advancing our pricing and sustainability metrics as we seek to provide Chinese consumers with delicious plant-based proteins that are good for both people and planet,” said Ethan Brown, CEO and Founder of Beyond Meat.
“The plant-based meat market in China continues to expand and Beyond Meat has been enthusiastically met by local consumers who are looking to live a healthy and sustainable lifestyle. The opening of the new Jiaxing plant is expected to enable us to quicken the pace of innovation and roll out our products at the speed and scale needed to remain highly competitive within the region,” Candy Chan, General Manager for Beyond Meat in China.
‘China learns fast’: Vegan fake-meat movement takes republic by storm
A visitor tries a plant-based meat substitute product at the Hong Kong Convention and Exhibition Centre in November 2020.
The country that currently consumes about half of the world’s pork is rapidly moving toward a vegan revolution.
China has an $86 billion meat market and is responsible for eating 28% of the global supply, with the average Chinese person devouring 11 pounds of meat annually. But that may soon change, The Guardian reports.
This change is apparently due to a cultural and market shift toward more environmentally aware middle-class consumers, who are beginning to prioritize saving the planet over eating pork daily as a sign of affluence and success.
Increasingly, there is a domestic market for Chinese individuals and institutions that are “willing to pay more” for meat alternatives because “they know they’re getting a healthier product that’s helping ensure the future of the planet their children are inheriting,” Franklin Yao, CEO of a plant-based mince producer in Shanghai, told the Guardian. “That’s priceless.”
Beyond financial status concerns, meat subs are carving out a slice of the market thanks to a new generation of consumers increasingly worried about by international food-related crises such as COVID-19 and African swine fever.
China’s plant-based meat market was estimated at 6.1 billion yuan ($937 million USD) in 2018 and projected to grow by 20 to 25% annually, according to 2019 report from the Good Food Institute.
Although the alternative-meat market is currently small in the country, Yao predicts it will soon be saturated and mainstream.
“Chinese consumers are actively looking for more sustainable products,” he told The Guardian. “While the link between meat and the environment is still weak among the majority of the population, the interest is there and China learns fast.”
The Chinese government is on board: In 2016, authorities pledged to bring down carbon emissions partially by asking citizens to cut back on their meat consumption. To advertise the request, the country launched a public campaign with action star Arnold Schwarzenegger and director James Cameron but it has done little to promote the cultural shift since.
Beyond Meat signs 3-year global contract with McDonald’s and other fast-food chains
https://www.veganfoodandliving.com/news/beyond-meat-contract-mcdonalds-fast-food-chains/
Beyond Meat has signed a 3-year global contract with McDonald's and Yum! brands including Pizza Hut, Taco Bell and KFC.
It’s official. The future of meat is plant-based!
Vegan meat giant Beyond Meat has just signed a 3-year global contract with fast-food icon McDonald’s, indicating big changes on the horizon.
The brand has also signed a deal with Yum! Brands, the corporation behind KFC, Pizza Hut and Taco Bell, spanning over 50,000 outlets across the globe.
It is undeniable that these chains make up the majority of fast-food consumption, so the long-term addition of plant-based alternative Beyond Meat to their menus will hopefully drive flexitarian attitudes.
This news comes shortly after the exciting announcement of the McDonald’s McPlant burger using a Beyond Meat patty, currently trialling across Scandinavia.
Founder and CEO of Beyond Meat Ethan Brown commented: “We will combine the power of Beyond Meat’s rapid and relentless approach to innovation with the strength of McDonald’s global brand to introduce craveable, new plant-based menu items that consumers will love.”
My portfolio crashed so bad in the last week (today) I have no money to buy into BYND now 
Plant protein boom is no bubble: investor
A Regina firm that processes and markets plant-based meat substitutes has seen sales surge to $127 million in revenues
https://www.producer.com/news/plant-protein-boom-is-no-bubble-investor/
Like many market bubbles, investors are throwing themselves into the plant protein foods industry.
However, a Canadian innovative foods investment fund thinks the plant protein craze isn’t a speculative flurry with little grounding in reality.
“I see it as a standalone, beautiful disruption to big industry that’s good for people and the planet,” said Patrick Morris, chief executive officer of Eat Beyond.
That thinking is behind the company’s recent participation in an equity-raising drive by Regina’s Above Food, which processes and markets plant-based meat substitutes and other products “with a view to a rapidly growing consumer demand for whole food products that participate in improved human health, climate change mitigation, reduced consumption of natural resources and are a benefit to animal welfare.”
Above Foods has seen its sales surge, hitting $127 million in revenues shipping to 300 customers in 35 countries.
That’s a real world success that attracted the interest of Eat Beyond, which is publicly traded.
“We like the brand that Above Food has. Their “field to fork” philosophy is really smart and that engages the end consumers,” said Morris.
“It’s nice to see when a local Canadian company is outperforming a lot of other companies in the world in a short period of time.”
Plant protein companies have arisen in all shapes and sizes, from high-profile Beyond Meat, which just announced a deal with PepsiCo for snack foods, to medium-sized companies like Merit Functional Foods, which is building a plant in Winnipeg, to tiny start-ups and local food-makers, which are expanding into a growing consumer demand.
French giant Roquette is building a $600 million pulse protein plant in Portage la Prairie, Man.
Similar to the plant protein boom, the cannabis industry saw an incredible burst of investment and excitement, garnering it worldwide attention. However, that boom ended up with a glutted market, losses among some players and business failures before stabilizing at a smaller size.
Morris thinks plant-based and other innovative foods aren’t as vulnerable to that sort of speculative excess because the underlying market is stronger and established.
“The … difference is that food is much more of a necessity,” said Morris.
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Millennials and today’s youth are serious about the environment, health and sustainability, which fits perfectly with the kind of foods that Above Food makes, said Morris.
“It kind of blew our mind at how rapidly this company is growing.”
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