Beyond Meat becomes the first multinational company focused solely on plant-based meat production to open its own production facility in China
SHANGHAI, CHINA - Media OutReach - 7 April 2021 - Beyond Meat, Inc. (NASDAQ: BYND), a global plant-based protein company, today announced the grand opening of its new state-of-the-art manufacturing facility in the Jiaxing Economic & Technological Development Zone (JXEDZ) near Shanghai. As Beyond Meat's first end-to-end manufacturing facility outside the U.S., the cutting-edge plant in Jiaxing is expected to significantly increase the speed and scale in which the company can produce and distribute its products within the region while also improving Beyond Meat's cost structure and sustainability of operations.
Designed to serve China's growing plant-based meat market, the facility will produce Beyond Meat's innovative range of plant-based pork, beef and poultry products, including Beyond Pork™, the company's first innovation created specifically for the Chinese market. By producing closer to the consumer and leveraging local supply chains, Beyond Meat is investing in the growth of the plant-based meat category in China and the facility underscores the company's commitment to China as a region for long-term growth. In addition to scaled production to support the company's expanding retail and foodservice business within China, the facility will also feature R&D capabilities to create unique product offerings and support Beyond Meat's local strategic partners.
"The opening of our dedicated plant-based meat facility in China marks a significant milestone in Beyond Meat's ability to effectively compete in one of the world's largest meat markets. We are committed to investing in China as a region for long-term growth, and we believe this new manufacturing facility will be instrumental in advancing our pricing and sustainability metrics as we seek to provide Chinese consumers with delicious plant-based proteins that are good for both people and planet," said Ethan Brown, CEO and Founder of Beyond Meat.
The announcement comes just one year after the company first entered mainland China through a nationwide partnership with Starbucks China. Within its first year in the market, Beyond Meat has expanded menu offerings at Starbucks China and has partnered with well-known foodservice and retail brands including KFC, Pizza Hut, Jindingxuan, GangLi Beijing, Slow Boat Brewery, Hema, METRO China and more. The facility is intended to pave the way for Beyond Meat to efficiently scale-up to meet future needs and demand.
"The plant-based meat market in China continues to expand and Beyond Meat has been enthusiastically met by local consumers who are looking to live a healthy and sustainable lifestyle. The opening of the new Jiaxing plant is expected to enable us to quicken the pace of innovation and roll out our products at the speed and scale needed to remain highly competitive within the region," Candy Chan, General Manager for Beyond Meat in China.
Beyond Meat's strict ingredient guardrails and commitment to making products utilizing simple, plant-based ingredients without GMOs has enabled the brand to expand product distribution throughout China and around the globe with ease and speed. In addition to the opening of the new manufacturing facility in the JXEDZ region, Beyond Meat will also be opening its first owned manufacturing facility in Europe this year in an effort to make plant-based meat more accessible to all.