Beyond Veggie
Impossible, you say, beyond belief. Yet to watch the shares of Beyond Meat , the maker of vegan meat alternatives, soar again yesterday it would appear that an expanding market just may exist for traditional meat eaters looking to cut back a bit and explore a few carnivorous alternatives. Said a piece in Bloomberg: As of the close, the market cap of Beyond Meat is nearly $4.5 billion. Meanwhile revenue for all of 2018 was less than $90 million. Obviously the market is thinking purely in terms of TAM (total addressable market) figuring that if Beyond Meat can capture even a tiny slice of the overall market for meat, then it will justify these valuations. The company's S-1 filing pegs the global meat industry at $1.4 trillion. Of course, they're not going to have the space all to themselves. They already have rivals, including the Impossible Burger (which many people seem to prefer on taste grounds) and incumbents looking to get in. As Bloomberg's Lydia Mulvany, L