Will Beyond Meat’s Chicken Meat Become a Bestseller?

Plant-based meat substitute manufacturer Beyond Meat Inc. (NASDAQ: BYND) intends to ship the new product to stores shortly.

The chicken substitute for becoming a popular commodity, as this type of Meat is one of the most widely used. Beyond Meat debuted Beyond Chicken Tenders in approximately 400 US restaurants in July and launched the product in stores. To make the chicken substitute, the company uses garden bean protein and a couple of dozen other ingredients that mimic the taste and texture of real chicken.

This is how the new Beyond Meat product differs from similar developments by Impossible Foods, which is on soy protein. Beyond Chicken Tenders will be available from October in major stores such as Walmart, Jewel-Osco, NorCal, Harris Teeter, Giant Foods, ShopRite, and more. But, again, own health and the environment – pricing is a significant issue. So far, the prices of natural Meat are significantly lower than the prices of its artificial substitute, which slows down the growth of sales.

For example, a package of Beyond Chicken Tenders will cost twice the price of chicken meat of the same weight. In the first months of sales, Beyond Meat can probably count on the effect of novelty, as many buyers dare to try a new product. Further, the success of the product will depend on other factors. Recall that reporting the quarterly results, Beyond Meat noted a slight slowdown in retail sales. However, in the second quarter, the company received $ 77.2 million in in-store sales.

For comparison, a year earlier, this figure was $ 90 million. At the same time, there is a growing interest in the “meat” Beyond Meat outside the United States. Thus, the trends in meat substitutes are good, new products without animal protein are of interest to consumers.
But the risk for Beyond Meat remains the relatively high price of its products, growing competition. At the auction on September 28, the BYND share cost $ 107.36.