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Beyond Meat announced that it would be releasing a newer version of its plant-based burger patty products. It will be replacing the company’s signature burger “meat” to offer patties that taste like real beef.
How Beyond Meat upgraded its burger
CNN Business reported that Beyond Meat was able to achieve its goal of making its burger taste more like beef by using a new recipe. It was shared that the company eliminated the mung beans from the list of ingredients to give the patties a meatier and beefier taste.
The exclusion of the said protein-rich legume was also done to closely depict the nutrients that are naturally present in beef meats. The new version is also said to have fewer calories now that went down from 260 to just 230. There is also less fat per piece of the plant-based beef patties as it is now just 14 instead of the usual 18 grams.
Beyond Meat said that the new burger patties would be in the grocery stores starting next week but did not give a specified date. For restaurants and fast-food chains that offer vegan burgers using the company’s products they will be receiving the new variant in June.
"This is the best version of beef we have done," Beyond Meat’s chief growth officer, Chuck Muth, told CNN Business. “But this is not the last version as there will be a next iteration."
Beyond Meat expects stronger sales with its new meat-free burgers
The Los Angeles-based producer of plant-based meat substitutes is set to formally launch the “beef” burgers, and it is confident that this will be well-received by the consumers. Ever since it introduced its very first Beyond Burger product in 2016, it has been sold in many stores, and currently, it is available in over 28,000 retail outlets across the U.S.
Aside from groceries, restaurants, snack bars, and cafés are the main outlets of Beyond Meat burgers since they started selling meatless options as a growing number of people are opting to go vegan. CNBC reported that the company’s retail sales have shot up 76% to $62.1 million in the previous fourth-quarter result.
Overall, shares of Beyond Meat have surged to 21% in the last 12 months, and this figure pushed the firm’s market value to $8.33 billion. In any case, the company will be making a report for its Q1 earnings after the bell on May 6.
