Is Beyond Meat Facing More Competition in China?
Most U.S. companies are able to peddle their wares to other markets and cultures, but do home-grown companies have an advantage? Beyond Meat (NASDAQ: BYND) is facing some competition from Chinese meat-alternative producer Zhenmeat, which is launching products that are geared to Chinese tastes.
Beyond Meat released its first products in China this past April in collaboration with Starbucks. The company's product line features various takes on ground meat, such as burgers and meatballs, as well as sausages, and these are on the menu at the pilot Starbucks China locations.
Zhenmeat, however, is playing up to the traditional Chinese palate, with a plant-based pork tenderloin and plant-based crayfish. Pork and crayfish are both extremely popular in China, which boasts the highest rate of pork consumption in the world and one of the highest of crayfish.
Source Fool.com
