September 22, 2020

Beyond Meat to sell its plant-based sausage patties to 5,000 additional US stores

United States-based Beyond Meat, a major plant-based alternative meat producer, said it will start selling its plant-based frozen breakfast sausage patties at an additional 5,000 more stores in the US, including Walmart, Kroger and Publix by end-September, Reuters reported.

The company derives half its international sales from restaurants, but was forced to pivot to retailers as restaurants were shut down during the COVID-19 pandemic.

Chuck Muth, chief growth officer of Beyond Meat, said the company has received positive response from consumers for the Beyond Breakfast Sausage Patties.

Beyond Breakfast Sausage Patties was launched at select stores back in March.

The additional 5,000 point of sales mean distribution has doubled for the product, according to the company.

Nielsen data showed demand for plant-based meat alternative products have increased during the pandemic, with unit sales 25% up for fully cooked plant-based alternatives in the four weeks leading to August 22. Sales of these products increased 31.4% between April to June.

As a result, Beyond Meat's shares have doubled to US$149 this year, compared to a 1.9% fall in the S&P 500 index.

-      Reuters