Chief analyst of Alpho Milsoh Pham described why Beyond Meat has grown in more than 100% . Because of shutdown, which has caused meat shortages, fast-food chains began to substitute meat with plant-based options.
His analysis was shared by different media worldwide :
Beyond Meat shares grow amid meat supply shortages
Based on data provided by DPA agency, American consumers began to complain about lack of meat burgers in Wendy's chain offer. According to Nielsen, meat price has increased in 8% since 25th April due to the negative situation within American food chains.
Beyond Meat is profiting from the situation during pandemic, and it has been reflected in the company's quarterly financial report. During the first three months of 2020, the company reported profit of $1,8 million. Sales rose year-over-year in 141 % to $97,1 million.