Beyond Meat founder and chief executive Ethan Brown at the Nasdaq Market site in New York, U.S., on May 2, 2019.Vegan burger maker Beyond Meat Inc. said on Tuesday it would begin making its plant-based meats in Europe next year, in an effort to expand production outside the United States.
The growth opportunities for Beyond Meat come from younger, health-conscious consumers choosing vegan or vegetarian diets, resulting in a surge in popularity for plant-based meat substitutes from companies like Beyond Meat and its main rival Impossible Foods.The two companies are competing to get their versions of vegan burgers in North American fast food chains, with Beyond Meat supplying Tim Hortons and Carl Jr., while Burger King sells Impossible Food’s patty in its Whopper sandwich.
“Localized production is expected to reduce the brand’s transportation footprint, while increasing the speed in which Beyond Meat can get products to customers across Europe,” the company said.