Beyond Meat to make plant-based meat substitutes in Europe
The vegan burger maker says it will start production in Europe in 2020 at a facility in the Netherlands
Bengaluru — Vegan burger maker Beyond Meat said on Tuesday that it will begin making its plant-based meat substitutes in Europe next year, in an effort to expand production outside the US. Shares of the Los Angeles-based company, which has actor Leonardo DiCaprio and Microsoft founder Bill Gates among its investors, rose more than 7% after JPMorgan called the company’s potential for growth “extraordinary”. 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 such as 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’s Jr, while Burger King sells Impossible Food’s patty in its Whopper sandwich. Beyond Meat’s new production facility in the Netherlands, set up by meat distributor Zandb...
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