Beyond Meat’s shares are continuing to soar since its May 22 IPO, as analysts see plant-based meat makers taking share from traditional beef producers and consumers crave healthier products with fewer environmental headaches.

“It’s a remarkable company and it’s got a remarkable future,” said Gregg Smith, whose Evolution VC Partners invested in Beyond Meat before its public share sale.

Barclays said in a report last week meat substitutes may grab 10% of the global meat market in a decade, according to the Financial Times. That’s a $140 billion a year and a whole lot of pea-and-canola oil meatballs.

  • Rising competition: Beyond Meat’s competition will surely increase as Nestle, Tyson Foods and Impossible Foods pitch their own veggie protein meat substitutes
  • Social impact: Consumers want alternatives to beef, which is seen by many as wasteful, polluting, and a potentially unhealthy protein source, Barclays analysts wrote
  • Concerns about the Beyond Meat’s struggle to meet growing demand may open opportunities for more plant-based offerings.

Ron Day is a Senior Editor at Karma. Previously he covered companies and markets for nearly 20 years at Bloomberg News.