Beyond Meat is on a high in America, which has the most amount of animal based protein per person globally, as meat is the biggest consumed item in the US, a $270 billion business.
Currently the Nielsen data shows that Beyond Meat has just 2% household penetration in the United States. But the company maintains that the plant based meat market is estimated to grow to a $1.4 trillion market.
About its international and growth going forward, Beyond meat CEO, Nelson said it’s important “but a very small percentage of the overall revenue.” He also mentioned that Europe and Asia are very significant markets for them and India is desperately in need for plant based protein as it is typically a vegetarian market and that Europe already has a well developed market for plant based proteins.
But it was what he said about Asia that was the most dramatic coming from a CFO “Asia has a desperate need for this. So I’m going to be very aggressive in going into those markets, and our team will be as well. Asia is absolutely a strong part of our strategy.”