Subway
Dunkin Brands
Last month, Dunkin Brands (NASDAQ: DNKN) announced its alliance with Beyond Meat to offer the Beyond Sausage Breakfast Sandwich at its restaurants.
Blue Apron
The meal-kit provider announced its partnership with Beyond
Meat to offer plant-based products in its recipes beginning with the Beyond
Burger plant-based patty starting this month.
Del Taco
In April, Del Taco Restaurants Inc. (NASDAQ: TACO) and Beyond Meat announced their alliance to offer Beyond Tacos at the Mexican fast food chain’s 580 restaurants nationwide.
Metrics and estimates
Beyond Meat saw revenues jump 287% year-over-year to $67 million in its most recent quarter, topping market estimates. Net loss amounted to $9.4 million, or $0.24 per share, in the period. Sales to restaurants and foodservice channels accounted for nearly half of total revenue at $33.1 million.
In May, a report from Barclays stated that the alternative meat
market is projected to reach around $140 billion over the next decade. According
to a
report from CNBC, Euromonitor has forecast that the US market for meat
substitutes will grow to $2.5 billion by 2023.
Beyond Meat’s stock hit a new 52-week high of $239.71 last month. The stock has gained 150% so far this year and was up 2% in mid-day trade on Wednesday.