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Beyond Meat does not think as much about other manufacturers of herbal meat substitutes – like its rivals Impossible Foods or Nestle – that at the slaughter of the meat industry. mammoth.
"We really do not focus on the vegetable meat sector as much as the meat industry itself, it's a $ 1.4 trillion industry with incredible diversity and global potential, "said Beyond Meat President, Ethan Brown, in Fast Money: Half-Time Report" a few seconds after the start of trading in the company's stock.
Brown founded Beyond Meat in 2009. The company sells fake burger patties, ground beef and sausages made from pea and faba bean protein. Previously, she sold chicken strips, but strives to rearrange this formula.
"The consumer is moving away from beef and pork as quickly as possible," Brown said.
US consumers are trying to reduce their meat consumption for health and environmental reasons. As Brown mentioned, the World Health Organization has linked cancer to processed meat.
On Thursday, the company debuted on the public market with the Nasdaq, under the symbol "BYND". Shares climbed 135%, giving the company a market value of $ 3.52 billion.
"We are eager to grow our business and I think the market response reflects the fact that we are very focused on reducing the gap between our products and animal proteins," Brown said.
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