As more consumers gravitate to plant-based diets, multiple vegan companies have emerged to provide more options that fit into these consumers' lifestyle.
While Beyond Meat just filed an IPO, this plant-based burger company, along with others in the market appear to be facing legal challenges from the state of Missouri and the country France.
"In France, you can now be fined 300,000 euros (about $343,000) if you “use ‘steak,’ ‘sausage,’ or any other meat term to describe products that are not partly or wholly made up of meat,” BBC reports. This rule also applies to dairy alternatives," writes "Fortune."
Even using the a term before steak like "soy steak" isn't allowed.
Missouri passed similar legislation this year over the legal term of meat.
"Missouri lawmakers earlier this year banned food marketers from marketing a product as meat if it’s not made of livestock or poultry. The fine for violations can run as high as $1,000, and you can end up incarcerated in a penitentiary," writes "Fortune."
But as "Fortune" points out– why isn't peanut butter forced to adhere to these types of laws That's because some meat companies are declaring war on plant-based meat.
Missouri Cattlemen’s Association pushed for the law and then in France, a cattle rancher sponsored the bill.
While some are trying to halt the plant-based companies’ growth, others are jumping on the veggie meat bandwagon.
“We continue to invest significantly in our traditional meat business, but also believe in exploring additional opportunities for growth that give consumers more choices," said Justin Whitmore, executive vice president corporate strategy and chief sustainability officer of Tyson Foods when the company invested in Memphis Meats.
Cargill also invested in Memphis Meats saying it was a move "all about sustainability."
Read more about these laws barring plant-based products from using the term meat at “Fortune” now.
Will more laws like this arise? And how will Beyond Meat respond?
We recently covered Beyond Meat's massive growth and the company's decision to go public on an episode of The Barron Report. Watch the video below to see how this company's Wall Street move will impact the plant-based industry.