Post by account_disabled on Mar 11, 2024 22:43:54 GMT -5
Have closed due to covid-19, companies like beyond meat and impossible foods will be able to compete more closely on the price of beef. This is something companies have struggled with since the beginning, and this situation now poses a unique opportunity “to make Spain Mobile Number List their way to consumers,” as beyond meat ceo ethan brown told the financial times . In the last month, two of canada's three largest beef processing plants have closed. Tyson has closed one beef and two pork plants in the us and smithfield has closed its huge pork plant in south dakota. By the end of april, at least eight large facilities had stopped production, suggesting a meat shortage in the coming weeks, especially as countries use up their frozen meat reserves. Meanwhile, plant-based meat companies are finding that business is booming more than ever.
For beyond meat, whose products were primarily sold in retail locations. It reported a 141% increase in first quarter sales compared to the previous year, coupled with this, stock prices have increased. Impossible foods, which sells more burgers to restaurateurs than retailers, has announced a major expansion to 1,700 kroger stores across the u.S. The financial times reported: the deal represented an 18-fold increase in our usual retail sales this year. We are selling everything we can produce, impossible foods also reduced their wholesale prices in march. Pat brown founder and ceo impossible foods. The company has given restaurants permission to sell their burgers directly to customers at any price they want and is considering opening up ordering directly from its website.
We've already seen a huge increase in demand from the 150 grocery stores that started selling the impossible burger last year. March was the number one month for retail demand as people have shifted their purchasing behavior from restaurants to foods to prepare at home. Rachel konrad head of communications at impossible. Tofurky reports similar growth. The company's ceo jaime athos said it is increasing production, " adding more shifts, running more production lines and hiring short-term staff " in order to meet demand. While the increase is certainly related to people storing food for use at home, athos says the tofurky fits perfectly with people's needs right now: buying patterns seem to be focused on proteins and things that can be frozen or have a considerable shelf life, all things that tofurky's products offer. Although growth is heavily fueled by immediate circumstances, the industry appears hopeful about its long-term future.