Alternative protein market gets competitive as startup Beyond Meat preps for IPO

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Wall Street is going vegan. At some point in the next four weeks, Beyond Meat, a pioneering plant-based meat alternative startup, will debut on Wall Street at a valuation of about $1.2bn. And in the meantime its rivals are cutting deals with some of the biggest names in food.

Beyond Meat is the latest in a series of “unicorns” – private companies valued at over $1bn – to go public. And this one is edible.

The company, based in El Segundo, California, was founded 10 years ago by tech entrepreneur Ethan Brown….Now the company is going public, at a pivotal moment for meat-like products created from plant-based protein, mainly yellow peas, which are being used to create a new wave of burgers (which actually “bleed” with beet juice), together with poultry and sausage substitutes that taste far closer to the real thing than their predecessors.

Related article:  Meat from algae: The next plant-based contribution to sustainable food production?
[T]he business community has spied the potential for big profits. [In mid April], Beyond Meat’s main competitor, Impossible Foods, launched a meatless Whopper at Burger King, and the fast-food chain Del Taco announced the development of a meatless taco.

Read full, original article: Beyond Meat preps for IPO as rivals take bite out of food industry

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