Beyond Meat is about to go public and has submitted a new filling stating that it has experienced strong sales growth over the past few years, accounting for a 133 % compound annual growth rate. The net revenues went from $16.2 million in 2016 to $87.9 million in 2018. Beyond Meat is on a mission to bring about a shift from animal to plant-based meat.
• “Beyond Meat is one of the fastest growing food companies in the United States, offering a portfolio of revolutionary plant-based meats. We build meat 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 our plant-based meat products.
• “The success of our breakthrough innovation model and products has allowed us to appeal to a broad range of consumers, including those who typically eat animal-based meats, positioning us to compete directly in the $1.4 trillion global meat industry.
• “To capture this broad market opportunity, we have developed three core plant-based product platforms that align with the largest meat categories globally: beef, pork, and poultry. We create our plant-based products using proprietary scientific processes that determine the architecture of the animal-based meat we are seeking to replicate and then we assemble it using plant-derived amino acids, lipids, trace minerals and water.
• “Our products are currently available in approximately 30,100 points of distribution primarily in the United States as well as several other countries, across mainstream grocery, mass merchandiser and natural retailer channels, and various food-away-from-home channels, including restaurants, foodservice outlets, and schools. We enjoy a strong base of well-known retail and foodservice customers that continues to grow.
• “We have experienced strong sales growth over the past few years, increasing our net revenues from $16.2 million in 2016 to $87.9 million in 2018, representing a 133 % compound annual growth rate. In 2018, our net revenues were $87.9 million, a 170% increase from $32.6 million in 2017.
• “Going forward, we intend to continue to invest in innovation, supply chain capabilities, manufacturing and marketing initiatives as we believe the demand for our products will continue to accelerate across both retail and foodservice channels as well as internationally.”
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