While the sizzle for its stock may have cooled somewhat amid growing competition, Beyond Meat, which went public last year, still looks to be the biggest beneficiary in the meat-substitutes section of the growing plant-based movement.
Beyond Meat’s retail sales to consumers more than doubled—growing 135% to be more specific—in the 52 weeks through early October, the fastest rate among the top ten plant-based meat-substitute labels, market research firm IRI said in a report Friday.
With that gain, Beyond Meat held a 10% share of the market, ranking No. 3, behind industry leader MorningStar Farms (owned by cereal maker Kellogg) and Conagra’s Gardein, according to IRI, which tracks actual retail sales.
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