Beyond Meat Inc. (NASDAQ: BYND) has released Beyond Chicken Tenders, its latest plant-based chicken product.
What happened was this: The new product will be available in roughly 400 smaller restaurant chains and independent eateries around the country, according to the El Segundo, California-based company, including Bad Mutha Clucka, Detroit Wing Company, Milwaukee Burger Company, and Stanley’s Northeast Bar Room.
The product will not be accessible in U.S. supermarkets, but it will be offered in 8-packs and 5-lb bulk bags from Toronto-based vegan grocer Good Rebel Vegan Provisions for delivery across Canada.
Beyond Chicken Tenders are produced with plant-based components including fava beans and peas, and the brand claims the product has 14 grams of protein per serving and 40% less saturated fat than other chicken tenders in the market.
Beyond Chicken Tenders are also cholesterol-free and free of GMOs, antibiotics, and hormones.
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Why Does It Matter? The company has struggled to develop a plant-based chicken product commercially. After a test run of a plant-based fried chicken substitute with KFC proved disappointing, an earlier product promoted as Beyond’s Chicken Strips was terminated in 2019 after failing to catch on with consumers.
CEO Ethan Brown revealed in an interview with The Wall Street Journal that his product line has yet to be confused for the animal goods it is attempting to replace.
He remarked, “The real challenge for us is to make each of our platforms — beef, pork, and poultry — indistinguishable from animal protein.”
“What is the best way to prepare a raw chicken breast with translucent skin and a color transition? Steak, with its fat and protein distribution and, of course, bacon? The holy grail is comprised of those three items.”
Investing in Meat Stocks Isn’t Enough: Beyond Meat stock was trading at $140.39 on Thursday, caught between its 52-week high of $221.00 and its 52-week low of $99.86.
(The new Beyond Chicken Tenders are shown in this photo.)
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