Chiron Capital Management purchased 10,953 shares of Beyond Meat (NASDAQ: BYND ) reportedly worth approximately $178,000 in Q1, 2023 – a move indicating that the US fund is confident in the potential success of Beyond Meat and the plant-based meat market.
Online platform BestStocks says this strategic investment is driven by thorough analysis and a keen understanding of market trends. It argues that by investing in Beyond Meat, Chiron Capital Management is part of a growing group of companies that recognize the potential of the alt protein sector.
In February, Beyond Meat’s NASDAQ shares surged 15% and a few months later hit a 52-week high on the Frankfurt Stock Exchange. In May, better-than-expected Q1 results boosted Beyond Meat stock by 11% and led the company to open a $200M equity offering. At the time of writing, Beyond stock 14.02 American dollars +0.39 .
Out of NPD in 2023
Beyond Meat continues to expand and launch NPDs despite the current downtick. In April, the company introduced Beyond Pepperoni and the all-new Beyond Chicken Fillet to North American foodservice. Soon after the brand’s R&D team developed a new iteration of its popular Beyond Sausage, featuring a smoother, “juicier” taste and texture. The new sausage launched in more than 15,000 US retail stores, including Costco, in time for the 4th of July holiday.
Following the emerging trend of smash burgers, Beyond Meat has launched the Smashable Burger in the US food service channel. Described by Beyond as having a “juicy, tender center and crispy, caramelized exterior,” the new patty offers a “customizable experience so foodservice operators can create Smash-style burger options to fit their menus.”
This year, Beyond Steak received a FABI Award (Food and Beverage Innovation) from the National Restaurant Association (the company’s seventh consecutive FABI Award). And it became the first plant-based meat and the first steak certified by the American Heart Association’s Heart-Check program. Beyond Steak will be available at US retail locations nationwide, including thousands of Walmart and Kroger stores.
International market expansion
UK Beyond Meat’s existing range includes sausages, beef-style burgers, mince, meatballs and newly introduced chicken burgers, fillets and nuggets. Additionally, the brand launched a range of frozen plant-based ready meals including new SKUs at Tesco: bolognese, mince curry and pilau rice, and chili with coriander rice.
This February, the company expanded its offering in the Netherlands with a range of plant-based chicken products, including burgers, sausages and tenders, launched in selected Albert Heijn and Jumbo shops. In Germany, Beyond Burger reached more than 1,600 REWE stores across Germany last year. And recently the company expanded its range with the launch of Beyond Nuggets and Beyond Tenders at their 1,600 REWE stores and the REWE Online Shop.
The company is clearly eyeing Europe for key growth, where it hasn’t felt as stagnant as other markets. In Europe, a FoodLabs report revealed that food and agtech startups raised $1.9 billion in VC funding in 2022, showing a 20% increase from 2021. Furthermore, GFI revealed last month that European plant-based food sales will grow by 22% from 2020, taking the category’s total value to a record $5.7 billion.
“We are proud of our team’s continued pace of innovation including Beyond Steak, which continues to win awards for its taste and outstanding health profile, as well as the newly launched McPlant Nuggets in Germany, the second plant-based protein co-developed with Beyond. meat as part of the McPlant platform,” CEO Ethan Brown said in February.
“I want to emphasize the transformation that is happening in Europe with consumers. If you look at Germany, in the last ten years, there has been a significant reduction in animal protein consumption on a per capita basis,” he added.