Final answer:
Key success factors for Beyond Meat include environmental sustainability, health benefits, and cultural acceptance of plant-based diets. The company must innovate to match the pleasure of meat consumption and effectively communicate the advantages of plant-based alternatives to a traditionally meat-centric audience.
Step-by-step explanation:
The key success factors for Beyond Meat and other makers of plant-based meat substitutes include addressing the environmental impact of meat production, catering to health-conscious consumers, and overcoming the strong cultural preference for traditional meat products. Lusk and Norwood's research highlights that meat is highly valued in diets, with only 4 percent of Americans being vegetarians, indicating a challenging market for plant-based substitutes.
On the other hand, sustainability concerns, such as the environmental sustainability highlighted by Lynch et al., reveal that plant-based diets do not suffer in performance compared to omnivorous diets.
Additionally, flexitarianism presents an opportunity for wider acceptance, allowing consumers to enjoy meat occasionally while primarily following a plant-based diet.
For Beyond Meat to succeed, it is crucial to promote the benefits of a plant-based diet without significant disadvantages in taste and nutrition. This involves innovating technology to improve texture and flavor, and effectively communicating the environmental and health benefits to consumers.
Brazilian agriculture, for example, has shown that sustainability programs, which include economic viability and mitigating environmental impact, can positively influence industries and public perception. Ultimately, Beyond Meat's success depends on creating products that are nutritionally adequate, environmentally sound, and economically affordable while offering the pleasure and satisfaction traditionally associated with meat consumption.