Beyond Meat: Competition Intensifies

Jul. 01, 2019 1:30 PM ETBeyond Meat, Inc. (BYND)CAG, MCD, NSRGF143 Comments
Amit Ghate profile picture
Amit Ghate


  • McDonald's expands Nestlé partnership.
  • Conagra emphasizes its alternative meat brand Gardein and launches new product formulations and packaging.
  • Before the Butcher is bought by large private food company, intends on becoming a big player in the alternative meat market.
  • I summarize the full competitive landscape.

As I presented in some detail in my original Beyond Meat (NASDAQ:BYND) article, I believe that the company's recent share price spike will be short lived, as the market begins to appreciate the depth and breadth of the competition BYND faces. This competition will manifest itself in battles for grocery shelf space (where large companies have advantages due to existing customer relationships) and in restaurant adoption; which in turn will result in pressures on unit growth and pricing -- ultimately impacting BYND's revenue growth rates and profitability.

And while I was very bearish when I wrote my initial article, even I have been surprised at the breath-taking pace at which competition has been emerging and ratcheting up in the past several weeks. In this article I highlight many of the new competitive threats. Then I step back and present a comprehensive summary table of competitors which can serve as valuable comparative "crib sheets" for investors interested in the space.

Beyond Adds Some Accounts

Not to bury the lede, but before turning to the competition, let's begin by noting that BYND landed two new restaurant accounts over the past week: Chanticleer Holdings (BURG) and Famous Dave's (DAVE). The former has 45 locations the latter has 136.

BURG's is a full rollout starting on July 1st, while DAVE's is only a test run to begin with:

Famous Dave's is pleased to announce a partnership with Beyond Meat and will be launching a test of plant-based protein menu items in mid-August. The test will roll out initially in five locations, four throughout Colorado and one in Minneapolis, MN.


This collaboration between Famous Dave's and Beyond Meat marks a milestone for the restaurant as the first time that they have tested plant-based protein options. The test will launch in select stores with the intention

This article was written by

Amit Ghate profile picture
I'm a private trader interested in both long and short ideas. My training and background are in engineering including several decades of consulting engineering practice. I endeavor to apply my analytical skills to investing/trading, which I've done for 20+ years and to which I bring a contrarian style. I've also recently become interested in writing and have published editorials at Forbes, PJM, and a few legacy newspapers.

Disclosure: I am/we are short BYND. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: I actively trade around core positions.

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