Beyond Meat, a US-based plant-based meat pioneer, is facing financial struggles in the food and beverage industry. In August, the company announced a significant decrease in net revenue and share price, which continued into the third quarter. As a result, analysts at TD Cowen are describing the company as being in ‘survival mode’.
Facing challenges in the US market, Beyond Meat has decided to ramp up its presence in Europe through a distribution deal with Nordic Food. While the US alternative meat category is struggling, the company is experiencing ‘strong growth’ abroad, particularly in Europe. The company expects the European market to be a faster-growing market compared to the US.
To further expand its presence in Europe, Beyond Meat has entered into a partnership with distributor Nordic Food to introduce its products into Romania. The company is delighted to tap into the growing demand for plant-based products in the country, offering a range of alternatives including burgers, sausages, mince, and meatballs. Nordic Food also hopes to introduce Beyond Meat’s Beyond Chicken Style range in the future, contributing to the diversifying consumption behavior in Romania.
However, amid the expansion plans, Beyond Meat is experiencing financial challenges in the US, where sales have declined and the company’s net debt has risen. As a result, analysts expect the company to make strategic changes, such as potentially removing certain product lines and reorganizing its offerings to reduce costs and free up resources.
The company is also refocusing its resources on international markets, particularly in Europe, where it sees potential for strong growth. Despite the struggles in the US, the company is optimistic about its future in Europe and is committed to expanding its offerings in the region.
