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This statistic highlights Beyond Meat’s Revenue Breakdown by Channel, split between two sectors: Foodservice and Retail, reported on a quarterly basis from Q1 2019 onwards.
Beyond Meat caters to a variety of customers internationally and throughout the United States, primarily through distributors who purchase, store, sell, and distribute their products. As of September 2021, their products were available in 128,000 Foodservice and Retail outlets in over 85 countries worldwide.
Retail: The retail component signifies products that are sold to the consumers away from home but require that the final preparation takes place at home. These are commonly referred to as ‘packaged foods’ and are widely available across grocery stores worldwide.
Foodservice: The foodservice component signifies those products which are sold to the consumers directly in a ready-to-eat form via the foodservice outlets. These are commonly sold in Restaurants or eat-in joints.
The following table shows the Revenue by Channel for the latest quarter Q3 2021, Q2 2021, and Q3 2020:
|Revenue by Channel||Q3 2020||Q2 2021||Q3 2021||Revenue Mix by Channel in Q3 2021|
(All values in millions, except percentages)
For Q3 2021, Retail Outlets make up for almost 70% of Beyond Meat’s Revenue, whereas Foodservice outlets contributed to around 30% of the earnings. The first five quarters of our statistic show a more or less equal division between the revenue share of these two segments, with both contributing to revenue ranging between $30-$50 million.
However, since Q2 2020, the share of the Retail segment has continuously overpowered the Foodservice segment. In Q2 2021, it crossed the $100 million mark by making sales worth $105.7 million. During the same period, sales attributed to Foodservice were $43.69 million.
The Net Revenue in the Foodservice channel decreased $46.9 million in 2020 or 30.6% as compared to the previous year. The company marks these lesser earnings in the Foodservice Channel as an impact of the Covid-19 pandemic and social-distancing measures in restaurants across the world.
The total revenue was in an overall uptrend until the latest quarter marked comparatively lesser earnings for both Foodservice and Retail. The recovery in the Foodservice sector was again hampered due to the recent and more contagious variants of the Corona virus, causing a decrease in demand throughout the United States and the rest of the world.
However, the company is focused on expanding its partnerships across various regions in order to maintain contact with foodservice customers.
Founded in 2009, Beyond Meat Inc. is a publicly-traded food company in the United States, specializing in revolutionary plant-based meats. It is a Los-Angeles based producer of meat substitutes and has its headquarters in California. The company has innovated to build meat directly from plants, hence enabling consumers to experience the texture, taste, and other sensory qualities of increasingly popular animal-based meat foods. Beyond Meat, goes through a careful selection of products in order to take special care of nutritional and environmental needs. By driving a consumer shift from animal-based meat to plant-based meat, the company aims to positively impact global issues such as human health, climate change, constraints on natural resources, and animal welfare.
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