Plant-based meat products have become the new rage in recent years as its popularity and consumption has grown from strength to strength. The new trend has forced existing as well as new brands to step in this frame and take advantage of it. One such company that came out winners is Beyond Meat.
Beyond Meat is a public company of American origin that was founded in the year 2009 by its founder Ethan Brown. It serves with headquarters based at El Segundo, California in the United States. The company is associated with the food industry and deals in producing plant-based meat substitutes. Its product portfolio includes Beyond Beef, Beyond Chicken, and Vegan Burger patties known as The Beast and Beyond Sausage in varieties like Sweet Italian, Hot Italian, and Bratwurst. By the year 2019, it was producing plant-based products for sausage, beef crumbles, beef, and burgers.
Initially, the products were available only in the United States but with time it has spread its presence to fifty countries like UAE, Canada, and Germany, etc. The sales are increasing from 170% in the year 2018 to further 257% in the year 2019 to reach 107.5 million dollars. Thus you can understand the popularity of its products in the consumer market.
An 800% rise in shares is simply too much and this is what happened with the IPO of Beyond Meat. Suddenly everyone could see clearly that there is a distinct market for plant-based meat products, vegan substitutes, and plant-based protein industries.
It has caught the attention of investors who are ready to invest in this industry and this is why we are seeing so many new related brands offering competition to each other. Let us find out about the Beyond Meat competitors and their innovative offerings in the alternative meat food industry.
Top 7 Beyond Meat Competitors
1. Tyson Foods
Tyson Foods Inc is a public company of American origin that was founded in the year 1935 by its founder John W Tyson. It serves with headquarters based at Springdale in the United States. The multinational company is associated with the food industry and is the second-largest marketer and processor of pork, beef, and chicken in the world. In the year 2018, it ventured into a plant-based meat substitute industry through an investment in Beyond Meats. It later sold its 6.52% shares and decided to venture alone and take advantage of the new opportunities.
Since then the high-profile brand has launched a product line through Raised & Rooted that includes alternatives of vegan meat, blended products as well as a plant-based protein food. Tyson Ventures has stepped into new horizons and invested in New Wave Foods, a plant-based shrimp company that makes food items from plants like soy protein and seaweed.
Tyson Foods is continuing to develop products for restaurants and groceries. It has roped in several sales and customer channels as well as foodservice operators for distributing its products in consumer markets. The company’s experience in developing, distribution, manufacturing, and marketing gives it an added advantage that will help in driving the growth of the new food items.
The related product portfolio of Beyond Meat competitor includes nuggets from pea protein as well as a blended burger made from pea protein and beef, which has managed to gain immense popularity amongst consumers.
2. Impossible Foods
Impossible Foods Inc is a private company of American origin that was founded in the year 2011 by its founder Patrick O Brown. It serves with headquarters based at Redwood City, California in the United States. The Beyond Meat competitor is associated with the food industry and is involved in developing substitutes for meat products that are plant-based. It has put its onus on creating replacements of meat products that will displace the market demand for meat and prove sustainable in the long run.
Impossible Foods aim to offer the nutritional benefit of meat that has protein in abundance to customers without the supposed negative impacts of eating livestock products. It has an R&D program that researches animal products, selects nutrients and proteins and recreates the nutritional value from plants.
The Beyond Meat competitor has a great product portfolio. It launched Impossible Burger, in the year 2016, which went on to become its signature product and found immense recognition and popularity in the consumer market.
It is served in nearly seventeen thousand restaurants and even in traditional outlets like Burger King and White Castle. Other products include plant-based sausage that was included in Impossible Supreme pizzas that were sold in the year 2018 by Little Caesars restaurants.
Kellogg’s is a public company of American origin that was founded in the year 1906 by its founder Will Keith Kellogg. It serves a worldwide area with headquarters based at Battle Creek, Michigan in the United States. The multinational company is associated with the food industry and has recently stepped into plant-based substitutes of meat products.
Healthy eating is the new mantra of this generation and what is more healthy than plant-based meat alternatives. Kellogs in moving with the times through its brand MorningStar Farms has launched the Incogmeato line that markets meatless products and includes the meatless version of burger chicken and patties.
Its product portfolio also includes Italian Sausage and bratwurst, which are non-GMO soy-based pork alternatives. Next in line are new versions of vegetarian Chicken nuggets and Chicken tenders.
Kellogg’s line of the plant-based meat alternative products is sold in grocery stores and the brand has profited from the huge network provided by its parent company in reaching the masses far and wide.
Kroger is a public company of American origin that was founded in the year 1883 by its founder Bernard Kroger. It serves with headquarters based at Cincinnati, Ohio in the United States. The world-recognized retail company is associated with the food industry and has recently launched plant-based fresh meats alternative brand known as Simple Truth Emerge.
The hugely popular company Kroger anticipates a further rise in plant-based meat alternatives and have decided to add at last fifty products in its product portfolio. All the related products sport enhanced packaging with a distinct plant-based icon.
The products pea-based meatless grinds and burger patties are available at all its store banners. It offers the same sizzle, texture, and taste as of a pan or grill and is free of soy, gluten, dairy, and GMOs.
It boasts of 20 grams of pea-based protein in every serving. Affordable prices have helped the brand in becoming a strong Beyond Meat competitor.
Nestle is a public company of Swiss origin that was founded in the year 1866 by its founder Henri Nestle. This iconic brand serves a worldwide area with headquarters based at Vevey in Switzerland. The multinational company is associated with the food and beverage industry and is one of the most recognized names in the world.
Nestle recognizes the fact that plant-based meats and protein are the future and are here to stay and this is why in the year 2017 it purchased Sweet Earth, founded by married couple Kelly Swette and Brian Swette. This company was already making 13,000 pounds of plant-based protein that included meatless ham and bacon every day.
With this brand, the Beyond Meat competitor stepped into the plant-based beef space and launched Awesome Grounds and Awesome Burger. Sweet Earth’s Mindful Chicken, a plant-based chicken offering is also very popular. All the products are available at universities, restaurants and grocery stores.
6. Conagra Brands
One of the major Beyond Meat competitors in the consumer market is Conagra Brands whose products are available in foodservice establishments, restaurants, and supermarkets.
Conagra Brand is a public company of American origin that was founded in the year 1919. It serves with headquarters based at Chicago in the United States. The multinational company is associated with the food processing industry and has recently stepped into plant-based substitutes of meat products through the brand Gardein, which was founded in the year 2003.
Gardein has expanded its line of plant-based meat-free dishes by including new products that include wheat protein and pea. It has put its onus on a flexitarian diet with meat substitutes because consumers are asking for sustainable ad healthy food.
Latest innovations from this brand include Chick’n wings, Nuggets and Tenders, Breakfast Bowls, Skillet meals, Italian Sausage Patties, Breakfast Sausage and Entre Bowls for One
7. Hormel Foods
Hormel Foods is a public company of American origin that was founded in the year 1891 by its founder George A Hormel. This iconic brand serves an estimated eighty countries with headquarters based at Austin in the United States.
The multinational company is associated with the food processing industry and has decided to venture into plant-based meat alternative industry by launching the brand Happy Little Plants in the year 2014
Its product offerings include Hormel Fuse burger along with plant-based pizza toppings and Applegate Blend Burger that blends organic mushrooms with organic meat. Its flagship product is a protein alternative with no preservatives, no cholesterol and gluten-free. The products are distributed in selected retail outlets and through foodservice operators.
Competition in the plant-based meat sector has become extreme and the list of competitors is growing rapidly. The fight for supremacy will depend upon several related factors like the offerings in product portfolios, price range, taste and customer loyalty.