Because if this takes off, and BYND owns the market, they will in fact be worth that and more.
If. But their odds aren't too horrible, and the potential market is rather large.
Is it hard to compete with? How would they own the market?
Creating lab-grown "meat" that tastes, cooks, and digests like real meat is probably not easy. If they can patent some of their techniques, that could make it very difficult for others to compete with them (depending on how easy it is to find alternatives to the patents).
A lot of people have tried. It seems to be like electric cars... nobody would do it until someone proves that it could be done well.
$10B is less than a tenth of Nestle's annual revenue, just to lay out the scope of the food industry. If they were public, it would be a cheap deal for them.
A quarter of the world's population are Muslims or Jews, who would probably appreciate the flavor of bacon without actually eating pigs.
At least another 15% of the world are vegetarian/vegan or aspire to be.
There's also the environmental and ethical impact of livestock and the livestock industry.
Because people think it is. Not all people, but enough.
“Everything is worth what its purchaser will pay for it” - Publilius Syrus
Because more people are becoming aware of the negative environmental impact of raising animals for food, or questioning the ethical implications. When meat analogs become cheaper and taste the same as meat, it's likely that it will become the norm. BYND seems to be well positioned to dominate this market.
I don't know, but their burgers are great and I'm frustrated that they're always sold out at my local stores. Whenever I see a pack or two, I grab and stockpile them instantly.
I hope they start meeting demand soon. I want to give them more of my money.
Because it's a bubble.
Because we’re in the middle of a finance bubble and food fad.