Beyond Meat (BYND): The Hottest IPO of 2019 is Still Exploding

An Impossible Whopper offered by Burger King. The fast-food chain has been testing the vegetarian version of its Whopper since April

The stock closed Friday at US$138.65.

24/7 Wall St. covered the post-earnings analyst reaction on Beyond Meat, and the company's own guidance called for net revenues to exceed $210 million with adjusted EBITDA to break even.

It joins other food companies vying for a share of the US alternative meat market which analysts estimate to be worth $100 billion by 2035 as consumers seek to reduce meat consumption amid growing concerns over health risks and environmental hazards of industrial animal farming. Its meatless meat alternatives (burgers, ground meat) have found a following among meat eaters, who like the taste of meat but worry about its health and environmental consequences.

Alternatives to meat are not new, of course, but startups and other growing players in the business have taken advantage of newer technologies to simulate the taste and texture of authentic meat more comprehensively.

Impossible Burger, which is already sold in more than 7,000 restaurants in the United States and Asia, recently raised $300 million in a financing round that valued the company at $2 billion. It's also facing increasing competition from other "new meat" companies like Impossible Foods. Consulting firm Euromonitor predicts worldwide sales of meat substitutes will increase 22 per cent by 2023 to a total of US$22.9 billion.

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In terms of Beyond's core raw material, pea protein, the competition to lock down supply is getting fierce as plant-based protein products gain popularity.

Tyson will sell blended protein burgers made from beef and pea protein, and sausages and meatballs that combine chicken with plants including chickpeas, black beans and quinoa, the company said in a statement.

Anglo-Dutch company Unilever previous year bought the Vegetarian Butcher, which has said it aims to become the "largest butcher in the world" with plant-based meat.

U.S. company Kellogg has been present in alternative meat since the 1970s through MorningStar Farms. He said the risk-versus-reward scenario for investors is now balanced.

Barclays also pointed to "potential regulatory restrictions" as far as marketing. "I don't see any material obstacle and I don't see any manufacturing obstacle to be able to. take on numerous largest [quick serve restaurants] out there", Brown said on the call.



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