Lava lamps, Fidget Spinners, Tamagotchis – fads come and go faster than all your digital pets combined. So, what about the new plant-based alternatives? Is Beyond Meat just another fad? The simple answer is NO!
The growing acceptance and demand for plant-based diets was inevitable. Interest in Vegan diets and lifestyles have soared during the past decade and interest continues to grow. In addition to the traditional vegan diet, many meat conscious consumers like vegetarians, pescatarians and flexitarians continue to search for healthy variety in their meals. In America, it’s estimated that over 9 million people do not eat meat! Unlike fads, plant-based diets are not just phases to evolve through. They are a genuine lifestyle, meaning that plant-based diets are part of a significant cultural shift and attitude change that continues to grow a loyal following for brands like Beyond Meat.
Alongside hardcore meatless-eaters, many individuals prefer plant-based alternatives for health reasons. Products like the Beyond Burger have no GMOs and are full of essential nutrients such as iron, zinc, and vitamin B12. As plant-based products become more appealing to audiences beyond just vegetarians, the number of supporters has grown substantially. After all, who doesn’t want to eat a guilt-free cheeseburger?
Another reason plant-based meat is here to stay is obvious – it tastes good! Consumers state they can hardly tell the difference between meat and fake meat. The differences they do find are to the benefit of the plant-based meat, such as improved texture. A great example, proving that Beyond Meat is not a fad, is the boom of sales for the product during COVID-19. As regular meat products were running low during the pandemic’s peak, more consumers turned to the alternatives. Products from Beyond Meat took center stage and stole the show. For the weeks and months following that first taste, their sales continued to rise, even after regular meat products were readily available.
From the dedicated health conscious vegetarians to those who just love their products, plant-based alternatives have gathered a consumer base that is here to stay. While Tamagotchis, fidget spinners and lava lamps have come and gone, plant-based options have become widely accepted and a staple in today’s society.
Interested in aligning your investment strategy with your Vegan lifestyle? Our cruelty-free ‘Demand Vegan’ portfolio, which includes Beyond Meat, enables you to invest in accord with your values. Whether you love the environment or just a good burger, our financial advisors are here to help!
This report is a publication of Demand Wealth. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author as of the date of publication and are subject to change.