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posted by martyb on Thursday May 09 2019, @03:08PM   Printer-friendly
from the grilling-investment-decisions dept.

After exiting Beyond Meat, Tyson Foods will launch meatless products this summer

After exiting Beyond Meat, Tyson Foods said that it will roll out its own plant-based meat substitutes beginning this summer.

The Jimmy Dean owner sold its stake in Beyond before the company went public, citing its desire to produce vegetarian meat substitutes under its own umbrella of brands. CEO Noel White told analysts on the quarterly conference call Monday that the plant-based product will launch this summer on a limited basis, with a wider rollout in October and November.

[...] Beyond made the strongest market debut so far this year on Thursday, surging 163%. The stock has a market value of $3.97 billion, dwarfed by Tyson's own market value of $22.66 billion. Tyson shares gained more than 2% Monday.

Despite the difference in market value, Beyond and other makers of plant-based meat alternatives — such as Impossible Foods — pose a threat to Tyson. Beyond Meat's CEO, Ethan Brown, told CNBC that the company is trying to capture the meat industry's customers. Its gluten- and soy-free products are meant to more closely resemble and taste like meat than previous iterations of veggie burgers.

Also at CNN.

See also: Beyond Meat goes public with a bang: 5 things to know about the plant-based meat maker
Competitors Sink Their Teeth Into The Meatless-Meat Industry


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  • (Score: 2) by c0lo on Thursday May 09 2019, @11:35PM (1 child)

    by c0lo (156) on Thursday May 09 2019, @11:35PM (#841604) Journal

    We are entering a golden age of meatless products

    Oh, you mean that shiny yellowish luster? That's fools gold

    (grin)

    Seriously though, the Chinese developed their cooking so that will eat things well beyond what the Westernized world would (i.e. they could adjust to a lack of meat in their food easier than the westerners). And I don't see them giving up meat as yet, on the contrary.
    What this says about the "golden age of meatless products " is left as a homework.

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  • (Score: 2) by takyon on Friday May 10 2019, @12:02AM

    by takyon (881) <{takyon} {at} {soylentnews.org}> on Friday May 10 2019, @12:02AM (#841615) Journal

    I say golden age because there are more choices, more investments, consumers spending more money on it, better taste, etc. More fast food places carrying these is also a very interesting trend, with a lot of action in just the last few months.

    https://vegnews.com/2016/2/meatless-meat-market-will-reach-52-billion-by-2020 [vegnews.com]

    A new report from Allied Market Research predicts that the meat alternatives market will reach $5.2 billion by 2020. The research profiled meatless meat producers such as Amy’s Kitchen, Beyond Meat, Garden Protein International, Inc. (Gardein), Quorn, and Morningstar Farms to reveal that meat alternatives—such as tofu and soy products but increasingly vegetable-based proteins—are slated to experience a compound annual growth of 8.4 percent overall. According to the report, “increasing health awareness coupled with increasing consciousness towards environmental sustainability and animal welfare have been the major factors driving the growth of meat substitute market.” The report also revealed that while Europe and North America are the largest consumers of meat alternatives, Asia-Pacific is the largest-growing market.

    https://www.cnn.com/2019/05/07/business/mcdonalds-meatless-burger-germany/index.html [cnn.com]

    McDonald's is inching closer to getting fully on board the meatless burger bandwagon with a new version in one of its biggest international markets.

    The burger chain is now selling a vegan burger, the Big Vegan TS, in Germany, one of its five leading international markets. Nestle is making the meatless patty for McDonald's, which first started selling the burger late last month.

    The plant-based protein trend is growing rapidly as consumers look for ways to eat healthier and reduce their environmental footprints. Unlike veggie burgers, which long had a mediocre reputation, the new proteins are designed to look and taste like meat and to appeal to meat eaters as well as vegans and vegetarians.

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