The plant-based meat industry is continuing to grow every day...
And Beyond Meat is at the forefront, becoming the first multinational plant-based meat company to open a manufacturing facility in China.
Opening in the Jiaxing Economic and Technological Development Zone near Shangai, the facility becomes Beyond's first outside the US...
It is expected to significantly increase the speed of production and distribution of Beyond's products within the region while also improving the cost structure and sustainability for the company...not a bad move...
Now onto what we all love, the food. The company will be producing its innovative range of plant-based pork, beef, and poultry products, including Beyond Pork, specifically made for the Chinese market.
Investing in China represents the long term commitment for growth in the Chinese market and features an R&D facility to create unique product offerings.
Ethan Brown, Beyond Meat's CEO, stated, "we believe this new manufacturing facility will be instrumental in advancing our pricing and sustainability metrics as we seek to provide Chinese consumers with delicious plant-based proteins that are good for both people and planet".
Beyond Meat is growing at a strong pace, especially when, just one year ago, the company struck a partnership with Starbucks China. Further partnerships also include KFC, PizzaHut, Jindingxuan and many more.
And if that wasn't enough, they also plan to open their first owned manufacturing facility in Europe this year🌱.
Beyond Meat is on the rise, and so is its share price, gaining over 3% following the news.🚀
Comments
Post a Comment