Veganism Is a Stock-Market Win as Greggs, Beyond Meat Soar

(Bloomberg) -- The meat-substitute buzz in the stock market just got louder.

Shares of Greggs Plc surged to a record on Tuesday as the U.K. bakery chain said its “very strong” start to 2019 has been maintained, boosted by hot demand for vegan sausage rolls.

Investors can’t get enough of fake meat. Greggs shares have almost doubled in the past year, boosted by January’s introduction of a vegan-friendly version of its most popular product. Compare that with Beyond Meat Inc., whose stock has almost tripled since the maker of vegan burgers and sausages sold shares to the public this month, in contrast to the underwhelming debuts of Lyft Inc. and Uber Technologies Inc. Another meat-substitute producer, Impossible Foods, reportedly garnered $300 million this month in its latest round of fundraising.

According to Greggs, sales have been boosted by making vegan sausage rolls available at all its stores following limited availability in the early part of the year. And it isn’t stopping there. A new summer menu includes a new and improved vegan wrap: Mexican bean & sweet potato.

©2019 Bloomberg L.P.