What Need Does It Serve?
Avoiding animal based meat: With increasing awareness of the ill-effects of consumption of animal-based meat, the consumers are increasingly looking for healthier options.
... while retaining taste and nutrition: This is where Beyond Meat steps in to offer meat produced directly from plants, an innovation that enables consumers to experience the taste, texture, and other sensory attributes of popular animal-based meat products while enjoying the nutritional benefits of eating plant-based meat products.
Has 2 Operating Segments-
1. Retail Chain: Sells its flagship plant-based meat products in meat cases through retail partners - Albertsons, Kroger, Wegmans, and Whole Foods Market. BYND acquired two new customers - Publix and Sprouts - in 2018, and seeks to establish additional relationships
2. Restaurant & Foodservice Outlets: The company sells its flagship Beyond Burger and Beyond Sausages through ~12,000 restaurant and food service outlets - BurgerFi, Bareburger, Carl’s Jr., Del Taco, TGI Fridays and A&W Canada. It recently partnered with Dunkin Donuts as is looking for more associations
What Are The Alternatives?
Traditional Meat Industry: The company faces intense competition in the $1.4 trillion global meat industry, from conventional animal-protein companies, such as Cargill, Hormel, JBS, Tyson, and WH Group (including its Smithfield division) and
Plant-based protein brands: Includes Boca Foods, Field Roast Grain Meat Co., Gardein, Impossible Foods, Lightlife, Morningstar Farms, and Tofurky.
What Is The Basis of Competition?
Competition is based on, product quality and taste, brand recognition and loyalty, product variety, product packaging and design, shelf space, reputation, price, advertising, promotion, and nutritional claims
