Now more than ever, socially responsible and conscious customers look for items without feeling sorry for animals. Most new makeup products carry the label saying no animal experiment or no animal cruelty in short. Vegetarians are proud of themselves in this regard. According to the Vegetarian Blogs, 254 million adults are casual vegetarians; 116.8 million are interested in becoming ones.
Meanwhile meat lovers argue that they care for animals. Their punchline is or used to be that they cannot give up on taste of beef barbeques and grilled hotdogs. Beyond Meat is a maker and seller of plant-based meat, who started its business with loyal customers in California.
In 2019, Beyond sold $40.2 million and it increased to $97.1 million in 2020 first quarter. Possible reason might be that the company launched Chinese market via Starbucks. Tyson Foods had to reduce its production due to Covid-19 pandemic (Chin, 2020, May 5).
Rachel Kim (2020, September 7). Socially Responsible and Conscious Eaters Welcome Beyond Meat & Food Innovation, The Blue Ocean Management, Retrieved from: https://theblueoceanmanagement.com/category/theblueoceanmanagement/market-trend-foresight/