Beyond the meat store, meatless companies are struggling to meet the demand
Extended CEO Ethan Brown (C) is celebrating with guests after calling the opening clock on Nasdaq MarketSite, May 2, 2019 in New York City.
Drew Angerer | Getty Images
Stock Options by Beyond Meat Meat Alternative Company increased more than 6% on Tuesday, after the Wall Street Journal reported that plant-based burger companies are struggling to meet the growing demand.
Due to limited production capacity, the two leading suppliers of meat options, Beyond Meat and Impossible Foods, have not been able to meet high-frequency orders from restaurants that add meat-free products to their menus.
Beyond Meat's share is now up 2%, up almost 300% since May's first public offer.
Beyond meat and impossible food is served in almost 20,000 restaurants across the country, according to the report. TGI Fridays, Del Taco Restaurants and Red Robin have joined the list, adding pea-based or soy-based burgers to their meat-heavy menus.
Burger King and White Castle have also added meat options to their menus to attract more customers, Journal said.
The rise in popularity in planet-based burgers has taken more than just the eyes of restaurant chains.
Barclays predicted that the alternative meat industry could be worth $ 1[ads1]40 billion over the next decade and food giant Nestle plans to launch its own plant-based burger in the United States through its brand named Sweet Earth.
Beyond Meat increased 163% on its first trading day on Nasdaq May 2. The day before, the company priced its shares at $ 25 per share, but opened at $ 46 per share. The inventory has almost quadrupled the price since IPO.
Beyond Meat will report the result after the quarter in the company's first earnings report since it became a public company.
– Read the entire Wall Street Journal story [19659013] here .