Video source: YouTube, CNBC Television
Beyond Meat Inc’s (Nasdaq: Chart BYND - $16.27 0.73 (4.487%) ) meatless chicken tenders will be available for purchase at select grocery stores nationwide starting next month, the faux meat company said Monday.
The announcement follows a successful launch of Beyond Chicken Tenders at more than 400 restaurants across the US in July, according to the company.
As part of that rollout, Beyond partnered with Panda Restaurant Group’s Panda Express on a plant-based substitute of that company's original orange chicken, which sold out in its first two weeks at all participating Southern California locations. Beyond also debuted its Beyond Meat Nuggets at over 1,000 of Unilever Canada Limited’s A&W restaurants.
The tenders were the first Beyond chicken substitute available nationwide in more than two years after the California-based company discontinued its original frozen strips to focus on the Beyond Burger, according to CNBC.
“Following the tremendous success of our plant-based chicken in restaurants, fans were eager to get their hands on a retail product that’s readily accessible and can be cooked at home anytime,” Deanna Jurgens, Beyond Meat's chief growth officer, said in a press release.
“We’re thrilled to be answering consumer demand by launching Beyond Chicken Tenders at prominent retailers nationwide, continuing our momentum in the plant-based poultry category."
The new chicken tenders, which have no GMOs, antibiotics, hormones or cholesterol and have 50% less saturated fat than traditional chicken tenders, derive their protein from fava beans.
According to Beyond, they come pre-cooked and ready-to-heat and will retail for $4.99.
The company also said it plans to expand its product distribution at Walmart stores.
In addition to offering the new Beyond Chicken Tenders, Walmart — the nation’s largest retail chain — plans to increase the number of stores offering the brand's breakfast sausage patties, as well as increasing availability of Beyond Meatballs and Beyond Beef Crumbles.
CNBC noted that this marks the third time this year that Walmart has expanded Beyond’s shelf space, which is part of a larger goal to make healthier products more widely accessible.
Compared to a year ago, the plant-based and vegan food sector has exploded in the US, with growth skyrocketing 227% according to Tastewise AI.
Beyond’s rival, Impossible Foods, has also entered the fast-growing market for plant-based chicken nuggets. Earlier this month, Impossible began selling its soy-based tenders at chains including Walmart and Kroger.
Source: Equities News