Beyond Meat and PepsiCo recently became partners. Amid their partnership, the two companies have made an announcement this Wednesday. According to both companies, they’ll be launching their first product known as meatless Jerky under their PLANeT partnership.
It Is Supposed to Be Healthy
The new product will be available in three flavors in the grocery stores. The flavors include original, hot and spicy, and teriyaki. The meatless Jerky is not only full of flavors but is also supposed to be healthy as its base is a protein derived from peas and mung beans.
Expect Snacks and Drinks
Although the partnership was announced a year ago, both the companies aim to introduce new snacks and drinks under this partnership. This partnership allowed Beyond Meat to efficiently market and produce new products through PepsiCo. Simultaneously, PepsiCo is looking forward to strengthening its products in the plant-based category. This is because, in the coming years, plant-based products is expected to be in huge demand. Hence, this partnership can help PepsiCo work towards sustainability and healthy food production.
The CEO of Beyond Meat Loves the Meatless Jerky
During the product’s release in February, the CEO of Beyond Meat, Ethan Brown, also said that he had been binge eating on this product. In addition to this, while launching the product, he added that this specific product, the meatless Jerky, had taken lots of time and energy and was indeed a fantastic product.
Beyond Continues to See A Bit of Growth
Beyond’s grocery sales have faced an enormous decline during recent years. Hence, the company focused on launching a product that would bring about a bit of a boost. They mainly allocated their energy in fast food launches.
Beyond Meat’s sales in grocery stores fell up to 19.5 percent, making around $49.98 million. Hence, the motive behind launching the main product was there to primarily boost the sales in grocery stores, and this product indeed looks promising.
Although the CEO seemed hopeful, his words didn’t soothe the investors. This is because the shares is still at a low level.
It is likely that the share price may stay at a depressed level due to a wide variety of aspects.
The company faced a loss of over $30.74 million on March 15. In addition, in the last 12 months, it witnessed around a 63 percent reduction in the stock’s overall value, and the market value dropped drastically.
Those who have analyzed the company’s potential and showed their concerns over competition, market saturation, and declining demand for plant-based meat alternatives.