Beyond Meat Inc (NASDAQ: BYND) doesn't want to be known as a food company in the traditional sense, rather an "innovation engine" dedicated to addressing growing demand for alternative protein products, company CEO Ethan Brown said Monday on CNBC's "Mad Money."
Consumers are becoming more aware of the multiple negative impacts of meat consumption, Brown told host Jim Cramer. The company's plant-based food items are attractive to those over 40 years old for health reasons while the younger generation is "really excited" over lowering their carbon footprint through meat-alternative products.
A Beyond Meat burger compared to a cow-based burger was created with 90% fewer emissions, 99% less water , 93% less land, and half the total energy,
"You can separate meat from animals and doing so you create a more sustainable planet and you create something that's healthier for the human body," the CEO said.
Pushback From 'Industry Groups'
Some argue Beyond Meat's products aren't as healthy as the company claims it to be. Brown told Cramer it's "largely noise being generated by incumbent industry groups." One needs to merely look at the product itself to understand the health benefits.
For example, a Dunkin Brands Group Inc (NASDAQ: DNKN) Beyond Meat breakfast sandwich has 44% less saturated fat, 37% less sodium, more protein and iron compared to a meat sandwich. These facts are "really hard to argue with."
Looking 'Very Seriously' At Asia
Brown said he's "looking very seriously" at the Asian market as it represents an "opportunity for hyper growth." The company already committed to opening production facilities in Asia by the end of the year and will do so regardless of the coronavirus.
Beyond Meat's products can directly address health and demand issues in China, most notably the African swine fever that resulted in the elimination of 25% of the world's pork supply, he said.
"This is a time of hyper growth," Brown said. "I've ruled out nothing. We're looking at potential acquisitions in the supply chain or adjacencies. We are doing everything we can right now to grab as much market share as we possibly can. That's the right focus for our business."