The effects of Covid-19 on meat markets is pushing Beyond Meat closer in price to traditional animal proteins, with improvements in the plant-based brand’s production facilities set to decrease the difference further.
That’s according to founder and CEO Ethan Brown who told Yahoo Finance that Beyond Meat is “well on its way” to under-pricing animal protein in the next couple of years.
Brown said that production is set to be ramped up in 2021 aand 2022, with new factories in Europe and China allowing Beyond Meat to hit higher volumes and “look more aggressively at pricing”.
Currently, said Brown, Beyond Meat burgers are “within the price of roughly 20% of the beef patties in the supermarket today”.
Concerns over health and safety in light of the coronavirus outbreak, and particularly its tendency to spread at meat processing facilities, will also benefit Beyond Meat, said Brown
“Consumers started to see the dismemberment, crowded conditions and things of that nature. And so it certainly provided a glimpse to the general public of the process through which today's food is delivered to the plate.
“And that's what we juxtapose with our process, which is one where the protein comes right from the plants and is run through a system of heating, cooling and pressure to complete.”