USA – Beyond Meat has announced a multi-year pea protein supply agreement with Roquette, a global leader in plant-based ingredients and a pioneer of plant proteins.
The supply agreement builds on a previous partnership between the companies and significantly increases the amount of pea protein to be supplied by Roquette to Beyond Meat over the next three years as compared to the amount supplied in 2019.
Ethan Brown, Beyond Meat’s Founder & CEO commented, “This latest contract with Roquette reflects Beyond Meat’s commitment to further scaling the plant protein supply chain as global demand for our products continues to rise.
“Along with our supply chain partners, including Roquette, we are driving innovation and access to existing and new plant protein feedstocks as we provide consumers around the world with plant-based meats that delight taste buds while contributing to important health, climate, natural resource, and animal welfare goals.”
Jean-Marc Gilson, CEO of Roquette, said: “This agreement with Beyond Meat enables both of us to continue to write the history of this promising market and to grow our businesses together.
“Roquette has a passion for food, and we believe Nature has the answer to provide people with the food they need and demand. We are very pleased to continue supporting the growth of Beyond Meat, which shares our passion and values this long-term commitment.”
The partnership will also support Beyond Meat’s ambitious expansion efforts both domestically and globally and introduction of new innovative products into the marketplace.
In May 2019, Beyond Meat also expanded its partnership with Zandbergen World’s Finest Meat to produce the brand’s innovative plant-based meats at a new manufacturing facility being constructed by Zandbergen, the Netherlands.
Beyond Meat’s executive chairman, Seth Goldman, recently revealed that the company plans to expand into mainland China and Europe this year.
Beyond Meat has significantly benefited from its expansion across various markets, with the company registering a 250% growth in net revenues to US$92.0 million in the third quarter of 2019 compared to US$26.3 million in the third quarter of 2018.
Currently, Beyond Meat’s portfolio of fresh and frozen plant-based proteins are currently sold at approximately 58,000 retail and foodservice outlets in more than 50 countries worldwide.
Beyond meat is also ramping up its partnerships with major restaurants chains including Dunkin’, McDonald’s, Subway, Del Taco, Carl’s Jr, and A&W Restaurants.