The rising popularity of plant-based meats has been keeping
Beyond Meat, Inc. ( BYND Quick Quote BYND - Free Report) on wheels with regard to undertaking innovation and bolstering its product portfolio. Increased demand for plant-based breakfast options, together with elevated at-home eating trends, has been encouraging more innovation in this realm. The company, which has been constantly adding to its plant-based product line up, recently announced another step in this regard — the launch of Beyond Breakfast Sausage Links. Prepared to offer the same taste and texture as that of pork-based links, Beyond Breakfast Sausage Links are plant-based GMO-free products with 40% less sodium compared to that of a traditional pork breakfast sausage links. Further, the company claims that Beyond Breakfast Sausage Links are free of cholesterol, hormones, bioengineered ingredients, antibiotics or synthetic colors. With a solid blend of savory herbs and spices, these links will be a delectable plant-based addition to Beyond Meat’s breakfast assortment. Markedly, Beyond Breakfast Sausage Links will be rolled out to countrywide grocery stores, including certain stores of Kroger ( KR Quick Quote KR - Free Report) , Sprouts, Wegmans, Whole Foods Market, Harris Teeter and Albertsons ( ACI Quick Quote ACI - Free Report) , to name a few, throughout October. The product marks the company’s fourth new retail product introduced in 2020. Prior to this, the company launched Beyond Meatballs, Cookout Classic and Beyond Breakfast Sausage. Apart from expanding its portfolio, Beyond Meat is engaged in strengthening its distribution network and e-commerce capabilities. Incidentally, the company recently announced an expansion to its distribution deal with Walmart ( WMT Quick Quote WMT - Free Report) , per which the availability of Beyond Burger triples from nearly 800 to more than 2400 Walmart locations. Also, Beyond Meat doubled the retail distribution of Beyond Breakfast Sausage patties to close to 5,000 additional grocery locations in the United States, in September. Certainly, continued favorable trends in retail takeaways and elevated at-home consumption have encouraged the company to undertake such expansions. We note that the retail channel has been doing well, backed by higher at-home consumption amid the pandemic. During second-quarter 2020, strong retail channel sales volume aided the company’s top line, which surged 69% year on year. Wrapping Up
Consumers are becoming increasingly aware of the health benefits of plant-based meat products as compared to animal-based meat. Beyond Meat is well placed to cater to such growing interests. In fact, the company prides itself on being one of the leading brands in refrigerated plant-based meat products. It has a widespread retail presence, with nearly 26,000 outlets across the United States. We expect Beyond Meat’s concerted growth efforts, such as innovation and expansion of distribution network, to continue bearing fruit.
Encouragingly, shares of this Zacks Rank #3 (Hold) company have surged 54.8% in the past three months compared with the industry’s growth of 7.8%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Zacks’ 2020 Election Stock Report:
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