Beyond Meat reported financial earnings on Monday, Oct. 28. (beyondmeat.com)
NEW YORK (AP) — Beyond Meat is facing a growing field of competitors but on Monday it raised its sales forecast for the year citing its leading role a new wave of vegetarian products intended to more closely mimic meat.
The El Segundo, California, company noted the multiple fast-food chains offering its patties made with pea protein and other ingredients, including Dunkin' Donuts and Carl's Jr. It said McDonald's also recently announced a test of a Beyond Meat burger in Canada.
"I have every expectation that this test will result in more work with McDonald's," CEO Ethan Brown said during a call with financial analysts Monday.
The upbeat sales forecast comes as Beyond Meat and rival Impossible Foods are facing more competition, including from food industry giants like Nestle and Tyson
