https://www.forex-news.com/
Forex-News has been the world leading economy news website since 2005. It has been a joyful path full of changing variables in this changing world. During the last three years we have also covered some of the most important news regarding Bitcoin and other cryptocurrencies. Wherever the news are, we are there.
Bitcoin
$9,523.64
-580.88
Ethereum
$237.25
-11.15
Litecoin
$46.09
-2.79
DigitalCash
$77.66
-3.07
Monero
$66.89
-2.06
Nxt
$0.01
0
Ethereum Classic
$6.91
-0.31
Dogecoin
$0.00
0

Cooperation with Starbucks: Beyond Meat with market entry in China: Will the corona crisis be a stroke of luck for vegan meat? | message

4


• Starbucks offers dishes with Beyond Meat products in Chinese stores
• Important step for Beyond Meat on the way to a golable plant protein company
• Corona crisis offers opportunities through possible changes in eating habits

The Starbucks coffee house chain had already announced at the beginning of the year that it would like to offer more plant-based dishes in the future and thus caused enthusiasm among the Beyond-Meat shareholders. After a Beyond Meat sandwich has actually been on the menu of Canadian branches since March, Starbucks is now following suit in China. As of Wednesday, customers in China have also been able to order numerous plant-based dishes for their coffee, including a wrap, a lasagna and a pasta dish with the vegan meat alternatives from Beyond Meat. This caused renewed enthusiasm among investors at the plant protein manufacturer: After announcing the cooperation on Tuesday, the Beyond Meat share temporarily jumped 16.3 percent to $ 92.00 during the course of trading. At the close, at $ 84.96, the price was still up 7.4 percent.

Analyst sees China as a great opportunity for Beyond Meat stock

By cooperating with Starbucks in China, Beyond Meat has taken an important step towards becoming a global player in the meat replacement market – and now has a foot in the door in the important Chinese market. The news agency “Reuters” cites a forecast by “Euromonitor” from last year that the volume of the meat-free food market in China will increase to $ 12 billion by 2023. Since Beyond Meat is now represented in around 4,000 Starbucks stores nationwide, the young US company should also benefit from this. Accordingly, CEO Ethan Brown was also enthusiastic in a press release that is available in “MarketWatch”: “Today, the launch of Beyond Meat in China marks an important milestone that will advance our goal of increasing access to plant-based protein worldwide”, so Brown.

According to “MarketWatch”, analyst Arun Sundaram from independent investment research company CFRA also sees great potential for Beyond Meat in China. The country is an attractive market for meat alternatives, as African swine fever and limited meat production, due to the chronic lack of land and water, mean that there is a supply gap in the vicinity of large cities, said Sundaram. As the next step, he expects Beyond Meat to open a factory in China in order to quickly identify trends in the Asian market and to be able to produce corresponding products. Beyond Meat CEO Ethan Brown confirmed plans in March. The CFRA analyst therefore sees upside potential for the Beyond Meat share: he has given it a hold rating and a price target of $ 95.00.

Corona virus could help meat alternatives

In fact, the coronavirus pandemic in particular could lead the Chinese, in particular, to rethink their eating habits and to resort to vegan meat substitutes more often in the future. On the one hand, there is a possible connection between the consumption of wild game meat and the transmission of the corona virus to humans, and on the other hand, many people in the corona crisis mostly stay at home, have to cook themselves and may also try new things.

According to a report by the Reuters news agency, suppliers in Asia are already feeling an increasing demand for food based on plant proteins. David Yeung of Green Monday, who supplies all of Asia with vegan products from Beyond Meat and other manufacturers, also speaks to “Reuters” that the outbreak of COVID-19 acts as a catalyst in the plant meat industry. According to Yeung, online sales at Green Monday alone have more than doubled as a result of the corona pandemic in the past two months. Vince Lu, founder of Chinese Beyond Meat competitor Zhenmeat, also sees a rethink in the population. “After the corona virus, the Chinese have a higher awareness of eating the right kind of protein, not wild animals,” Lu told Reuters. According to the news agency, this development can already be observed in Hong Kong and on the Chinese mainland.

In another study from this month, the CFRA analysts also see increased potential for meat from the laboratory. “Most outbreaks of infectious disease are transmitted from animals to humans,” MarketWatch said in the report. “Because laboratory-based meat is produced in a clean and controlled environment, we believe that the progress of the laboratory meat industry could accelerate as more zoonotic outbreaks occur,” said the CFRA analysts. Although the study mainly dealt with laboratory meat grown from animal cells, the same applies to plant meat. This is also pointed out by the chairman of Beyond-Meat competitor Impossible Foods, Dennis Woodside: “Our advantage: Our process is inherently safer than animal meat”, according to Woodside according to “MarketWatch” as part of a virtual company presentation. So it is quite possible that companies like Beyond Meat or Impossible Foods will ultimately emerge as winners from the corona crisis.

Editorial office Forex-news.com.net

More Starbucks Corp. News

Image sources: Pavel Kapysh / Shutterstock.com, Beyond Meat



Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More