경주출장마사지 Burger King, the CEO of owner Restaurant Brands International, José Cil, said sales of the vegan version of its signature sandwich exceeded expectations and the company is planning to offer it in Burger King restaurants nationwide.
“We’re not seeing guests swap the original Whopper for the Impossible Whopper,” Cil said Monday in an earnings call. “We’re seeing that it’s attracting new guests.”
Alternative meat companies hope to replicate the success of the non-dairy milk industry, which has grown to about 13 percent of the milk market by positioning itself as the healthier alternative. Beyond Meat said in its filings that the vegan meat market can similarly grow to about $35 billion of the $250 billion domestic meat industry.
However, Beyond Meat has never made a profit, having generated losses every year since its inception, according to its SEC filings. It lost nearly $30 million just last year, and it will continue to spend heavily in the near future to expand its supply chain capabilities.
It also has plenty of fast-growing competitors. In addition to California-based Impossible Foods, meat purveyor Tyson invested in Jerusalem-based Future Meat Technologies and lab-grown meat producer Memphis Meats.
However, Renaissance Capital, which researches IPOs, said investors are likely to look past the risks, as the company is growing quickly. Beyond Meat’s net revenue nearly doubled to $87.9 million in 2018 from $32.6 million the prior year.
— The Associated Press contributed to this report.