admin As consumers maintain an appetite for fake meat, Beyond Meat’s sales continue to rises and its revenues reached AUD$97.4 million in the second quarter, up from $25.1 million during the same period last year, a 287 per cent spike.
Beyond Meat’s products, designed to imitation a variety of meats, have proven to be a smart alternative to the real thing.
The Beyond Burger becomes very popular for its meaty flavour and texture.
A Coles spokesman says the rise in popularity of meat alternatives is part of a wider global trend towards a decrease in meat consumption and towards meat-less diets, not necessarily full vegetarian diets.
“Our customers are loving our Beyond Meat and Alternative Meat Co. products, which have enjoyed double-digit growth week-on-week over the past month,” he said.
“And since its launch in June, Chicken Free Chicken has already become one of our most popular products in the range.”
While many people are trying to reduce their meat intake for health reasons, IBISWorld analysts believe Australians’ concerns about their environmental impact are a contributing factor behind the rise in demand for plant-based products.
Tony Hegarty, President of the Cattle Council of Australia, produces beef in Central West NSW, says that when it comes to properly sourced and environmentally sustainable meat, nothing compares to Australia’s red meat industry.
“Australia’s red meat industry is on track to reduce our paddock-to-place carbon footprint to zero by 2030,” Hegarty said.
“Families raising livestock manage half of Australia’s landmass and our livelihoods depend on environmental sustainability because without healthy soil, water and air our grazing businesses don’t exist,” he said.
Hegarty said he was aware of the market growth of meat alternatives, he maintains the need to support local farmers.
“I support consumer choice and, with that in mind, I’m very proud that the beef produced on our farm is naturally produced and local.”
But the fake meat market seems to have paved its place on supermarket shelves.
Beyond expects more growth, the company raised its 2019 outlook. It now expects revenues of more than $347 million, up more than 170 per cent from last year, instead of net revenues of more than $304 million.
Beyond is also selling 3.25 million shares of common stock — 3 million from stock holders and 250,000 from the company
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