[Overseas Stocks Spotlight] "Beyond Meat, Growth Potential Up with Expansion of Alternative Meat Consumer Spectrum"

[Asia Economy Reporter Eunmo Koo] An analysis suggests that Beyond Meat (BYND US), a company specializing in plant-based meat production, has increasing growth potential as the spectrum of alternative meat consumers expands due to generational changes with greater respect for diversity.

Beyond Meat is a U.S.-based company specializing in the production and sale of plant-based alternative meats. Recognized as a food tech company for its product competitiveness in replicating the taste and form of real meat, it was listed on the Nasdaq market in May last year. It offers 100% plant-based beef, pork, and chicken products, with the flagship product being the beef patty-style "Beyond Burger," which accounts for 64% of its sales.

In recent years, interest in vegetarianism and alternative meats has grown, forming a trend. On the 12th, researcher Eunhye Lim from Samsung Securities stated in a report, "This is due to the replacement of consumer generations centered on those with increased respect for diversity," and analyzed, "The growth potential of the rapidly growing alternative meat market can be compared to the plant-based milk market, which is a similar protein source." The plant-based milk market size is about 13% of the animal milk market, while alternative meat currently accounts for only 1% of the general meat market.

Beyond Meat's products are noted for their strengths in taste, texture, and nutrition compared to traditional operators and current competitors. Researcher Lim analyzed, "Especially the supply in fresh food form is an innovative change in the plant-based meat industry, and the potential for market share advantage as an early market entrant is also a strength." Additionally, the expansion of the alternative meat market, growth of high-margin food service and restaurant-centered clients, and product lineup expansion are evaluated as opportunity factors.

On the other hand, low entry barriers on the production side, doubts about the sustainability of growth for companies pursuing social values, and parity pricing with regular meat (the price of agricultural products determined by the government to balance with other prices) are pointed out as weaknesses.