Source: CNBC, Beyond Meat, Internet
The plant-based meat producer, Beyond Meat is going to establish a new manufacturing facility in Asia before the end of 2020, as their expansion plan to develop the business further, especially aim to expand in China mainland, which is the 2nd largest economy globally. Beyond Meat’s faux-meat products already sells in Hongkong and Singapore.
In 2019, the rising of the pork price caught the company’s attention, the CEO and president all committed it will be a hyper opportunity for them, regardless the coronavirus is spreading in the world. People estimate the sales of plant-based protein could be 13% of total supermarket meat volumes in the coming decade.
Meanwhile, their rival, Silicon Valley-based Impossible Foods are racing to expand sales to China, it’s a major emerging market for products like the Beyond Sausage and Impossible Burger, both companies already got huge success in the U.S.
To be able to open those potential markets, the companies need to develop a full supply chain, such as production systems, retail systems, and the cold logistic chain which will be able to transport frozen their products.
In Europe, Beyond Meat plans to have a new production factory in the Netherlands, which has a partnership with Zandbergen, the World’s Finest Meat up, the factory might start running by the end of March in 2020. This will be their first facility outside of the U.S.
The burgers with Plant-based meat are normally $1-$1.50 more expensive than traditional meat ones, but Beyond Meat and Impossible Foods are trying to reduce the price gap as much as possible. A plant-based Whopper that Impossible Foods make for Burger King is approx. $5.59, against approx. $4.19 for a beef Whopper.