Beyond Meat has been the top plant-based meat producer for years, but surprisingly the company showed a 13% decrease in October, recording the lowest share percentage in the year.
The company announced estimations for their third-quarter revenue that resulted in $106 million. This is a huge decline in shares from the previous quarter’s revenue which was $149 million, even lower than Wall Street’s estimation of about $135 million.
Just for this year, the company has observed a 25% decrease in shares, blaming the COVID-19 pandemic, competition, and harsh weather conditions that resulted in less production of goods.
Veg Capital invests in Plant Alternative
The company is growing its portfolio by investing in Plant Alternative, a vegan Indian meal brand, with meat-free chicken as its focal point.
Although the specifics have not been released yet, the company has promised to launch the collaboration soon.
Eat Well Group is acquiring plant-based baby food
Eat Well Group is trying to invest in a plant-based baby food brand called Amara Organic Foods. According to Eat Well’s President Mark Aneed, Amara is on the rise, and the company’s agribusiness, food technology, and sectors fit perfectly with Eat Well’s goals. He also specified that the company would produce goods that the consumers would definitely love.
Above Food and Atlantic Natural Foods (ANF) are building a bond
Above Food has acquired the best vegan canned tuna TUNO producer, Atlantic Natural Foods (ANF). This partnership focuses on the global expansion of ANF with existing over 25,000 retail stores in 30 countries. The goal of both companies is to produce healthy ‘ready-to-eat’ plant-based goods.
Grounded Foods secured a $2.5 million investment
Grounded Foods is a dairy-free cheese producer. It has recently invested in pre-Series A funding alongside current investors like Big Idea Ventures, Stray Dog Capital, Kale United, Nucleus Capital, Presight Capital, and Route 66 Ventures.
With fermentation as its main craft-builder, the company has taken pride in its gluten-free, nut-free, and soy-free vegan dairy products. The company has also set its sights on retail expansion throughout the US.
Eat Beyond joins hands with Beyond Moo
Eat Beyonds has acquired an investment with the vegan dairy company, Beyond Moo, to produce oat-based products. Beyond Moo’s specialty is oat-based alternatives, including cream cheese, butter, yogurt, and kefir. These products are gluten-free, nut-free, soy-free, with no additives and preservatives.
Yulia Weber, Beyond Moo’s Founder, said that the company will work closely with Wat Beyond to open a new portfolio in their business growth.