- Beyond Meat CEO Ethan Brown said he has watched “a brand morph into a movement” since the company’s explosive IPO in May.
- Since Beyond Meat’s explosive IPO in May, the company’s stock has spiked as much as 734% from its initial public offering price.
- Barclays estimates that the market for alternative meat could reach roughly $US140 billion over the next 10 years, up from $US14 billion.
- Visit Business Insider’s homepage for more stories.
Beyond Meat’s CEO says that the plant-based protein brand has transformed into a movement.
Since Beyond Meat’s explosive IPO in May, the company’s stock has spiked as much as 734% from its initial public offering price. In a few short months, the company has announced new partnerships with Dunkin’, Tim Hortons, and Blue Apron.
“It’s a strange feeling for me. I’m not an extroverted person at all,” CEO Ethan Brown said of helming the high-profile company in recent months.
Brown told Business Insider on Wednesday that it has been fascinating “watching a brand morph into a movement.”
“That’s not what we’re doing, that’s what the world is doing,” Brown said.
In particular, Brown pointed to Gen Zers in their late teens and early 20s as helping to drive the plant-based “meat” movement. This generation’s default is a world without landlines; accepting plant-based protein as equivalent to meat is the new normal.
Barclays estimates that the market for alternative meat could reach roughly $US140 billion over the next 10 years, up from $US14 billion. Sustainability, animal welfare concerns, and health consciousness are helping fuel the growth, according to Barclays analysts.
“I think that we’re providing people with the opportunity to continue to do what they love: to eat meat,” Brown said. “But, it releases them from some of the inner anxiety they may have about it, or the inner questions they may have about it.”
Brown said that, while it has been strange to see the increasing hype around Beyond Meat, he is trying to stay focused on the company’s mission. Beyond Meat’s biggest challenge today, he said, is avoiding disappointing customers while the company is in the spotlight.
“When you have people’s focus, attention, and they want this to work, you really want to be there for them,” Brown said.