The Travails of `Beyond Meat`: Are Meat Alternatives still the Future of Food?
| Case Code: MKTG470 Case Length: 16 Pages Period: 2009-2024 Pub Date: 2025 Teaching Note: Available |
Price: Rs.400 Organization : Beyond Meat, Inc. Industry : Food & Beverage Countries : United States Themes: Business Level Strategies Product Life Cycle Strategic Planning, |
Abstract Case Intro 1 Case Intro 2 Excerpts
Excerpts
BM’S Products Take Off
In the early 2010s, the number of vegans and vegetarians was increasing globally. Brown understood that his target customers included not only vegetarians and vegans, but also flexitarians and meat-eaters who occasionally sought a healthier, high-quality option. But despite a sizeable target segment, the market for plant-based meat products at that time was small, with only 0.5% growth in this category. That was because the existing plant-based meat products were generally considered inedible, with most food industry experts stated that they had ‘as much flavor as the box they were in’. That meant that BM had to strive and position itself differently from them..
So, What Went Wrong For BM?
Industry observers said that with the growth in the consumer demand for sustainable and ethical food alternatives, several new players had begun entering the industry. One of the key players was Impossible Foods (IF) , a plant-based meat market pioneer with various innovative products that mimicked the taste and texture of real meat..
The Road Ahead
Most analysts believed that plant-based meat was the food of the future that would someday become a mainstream product, primarily due to the push by climate scientists and international NGOs who endorsed its environmental benefits. They thought that as the R&D in the field developed and taste improved, there would be a greater adoption of plant-based meats. Jasmijn de Boo, CEO of food awareness charity..
Exhibits
Exhibit I: Plant-based Meat Market by Region, 2023
Exhibit II: Insight into BM’s Innovation Capabilities
Exhibit III: Beyond Meat’s Product Line
Exhibit IV: Financials of Beyond Meat Inc.
Exhibit V: Environmental Impact of Plant Based Meat Vs Traditional Meat
Exhibit VI: Beyond Meat Revenue Climbed 250% Year-Over-Year
Exhibit VII: Market share of Plant-based Meat Companies in the US, 2021
Exhibit VIII:
Beyond Meat Financial Performance, 2023
Exhibit IX: US Plant-based Meat Retail Sales Doubled from 2017 to 2020, Then Stagnated
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