Image source: Beyond Meat
Plant-based protein company Beyond Meat Inc’s (Nasdaq: BYND) breakfast sandwich and breakfast wraps are no longer being served at Dunkin’ locations nationwide.
The Inspire Brands-owned coffee and doughnut chain first began selling the faux-meat breakfast items at all of its 9,000 US locations in 2019, but Beyond Meat will now only be available at a few hundred shops, Fox News reported.
In a statement, Dunkin' said, "We maintain a strong relationship with Beyond Meat and will continue to work together to explore innovative plant-based options to meet consumer demand for plant-based menu items."
The company's statement follows a research note published Wednesday by JPMorgan Chase & Co analysts Ken Goldman and Annori Naughton, who wrote that the chain recently discontinued the sandwich and wrap.
“We personally enjoyed the Beyond Sausage sandwich at Dunkin’ and thought it was one of BYND’s best, but apparently it did not sell as well as expected,” they wrote.
“There is always a chance that the item will return; however, the locations said that to the best of their knowledge, there were no plans for this to take place in the immediate future,” they said.
A Dunkin’ spokesperson declined to comment on JPMorgan’s report, telling Fox News the company had not seen the analysis.
Dunkin’ was one of the first chains to offer a breakfast sandwich made from a vegan sausage patty, according to PETA.
Several other fast-food brands, including Restaurant Brands International’s Burger King, Starbucks, White Castle and Carl’s Jr., have also embraced plant-based foods and launched meatless items as more customers pursue vegetarian and vegan diets.
Testing of the Beyond Meat breakfast items went so well that Dunkin’ bumped up the nationwide rollout from January 2020 to November 2019 and the partnership was heavily promoted by both companies, according to Business Insider.
During a trial run in New York City, the sandwich quickly became the second best-selling menu item.
Earlier this year, Beyond Meat partnered with McDonald’s Corporation, as well as Yum! Brands, the parent company of Taco Bell, KFC and Pizza Hut to develop plant-based items for each chain.
It also formed a joint venture with PepsiCo to develop a new line of snacks and beverages made with plant-based proteins.
Source: Equities News