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Beyond Meat (BYND) to Launch Chicken Tenders, Expands at Walmart
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With the rising popularity of plant-based meat options, many food companies have been expanding offerings in this space with prudent innovations. One of the forerunners in the plant-based meat arena is Beyond Meat, Inc. (BYND - Free Report) . This provider of healthy plant-based meat alternatives has been on wheels when it comes to product expansions and boosting its retail presence. The company announced the launch of Beyond Chicken Tenders across select retail chains. It is also taking its product expansion spree at Walmart Inc. (WMT - Free Report) a step further. The company plans to increase its offerings at Walmart, especially the Beyond Breakfast Sausage Patties.
Shares of the company went up 3.4% during the trading session on Sep 27. Let’s take a closer look at these latest moves.
Beyond Chicken Tenders Launch
Based on positive consumer response, Beyond Meat will debut the Beyond Chicken Tenders at select retailers nationwide. The new Chicken Tenders replicate the taste of traditional chicken tenders, but with 50% less saturated fat. Similar to the company's other plant-based meat offerings, Beyond Chicken Tenders, are devoid of GMOs, antibiotics, hormones or cholesterol. The product comes in the form of pre-cooked, ready-to-heat in the air fryer, oven or microwave and becomes ready to serve in under 10 minutes.
This product has been derived from the faba bean, a highly nutritious crop. The company believes that the unique qualities of faba beans make it the optimal ingredient for substituting the taste and texture of traditional chicken tenders. The launch upholds Beyond Meat’s continued efforts to identify new sources of plant-based protein, following the massive popularity of pea protein with the iconic Beyond Burger.
The rollout of Beyond Chicken Tenders is part of a series of breakthrough plant-based chicken innovations of the company. The company launched its first chicken product in 2012 and has since then doubled down on the category with multiple product introductions. These highly-successful innovations have driven the company to continue with its efforts to expand plant-based alternatives for chicken. In earlier efforts, the company introduced The Original Orange Chicken at Panda Express, which was available for a limited time at select locations. Beyond Meat Nuggets, a plant-based chicken nugget was launched in more than 1,000 A&W Canada locations for a limited time. Both these launches gained much popularity, resulting in being sold-out in a short duration. The company also introduced Beyond Fried Chicken, a plant-based chicken innovation created exclusively for KFC and offered for a limited-time.
Through the launch of Beyond Chicken Tenders, the company continues its history of fruitful innovations in the plant-based poultry category. The product will be made available from October onward, in the frozen food aisle category at select Walmart, Jewel-Osco, Safeway NorCal, Harris Teeter, Giant Foods and ShopRite stores. The company expects to expand its availability to more retail stores later this year.
Image Source: Zacks Investment Research
Expansion At Walmart
Beyond Meat is increasing retail product distribution of its products at Walmart stores. Apart from introducing the latest Beyond Chicken Tenders, the company’s expansion spree at Walmart includes widening the availability of Beyond Breakfast Sausage Classic Patties, Beyond Breakfast Sausage Spicy Patties as well as the availability of Beyond Meatballs and Beyond Beef Crumbles. This marks the company’s third expansion effort at Walmart this year, following the introduction of Beyond Meatballs in May and Beyond Sausage Hot Italian in March.
Beyond Meat will increase the number of Walmart stores offering Beyond Breakfast Sausage Classic Patties by more than 1,500 stores and Beyond Breakfast Sausage Spicy Patties by more than 1,300 stores. This marks a 70% increase in Walmart stores offering Beyond Breakfast Sausage Patties.
Wrapping Up
Beyond Meat’s advanced research, innovation and culinary teams are focused on creating plant-based meat that acts as perfect substitute of their animal equivalent in terms of taste along with being beneficial for health and the planet. The company’s strong brand image and high-quality products, with stern ingredient guardrails, have helped it expand presence across the globe.
Such efforts along with a recovery in the foodservice channel contributed to the company’s second-quarter 2021 results. Its overall retail channel sales, excepting U.S. retail, have also been growing on the back of higher distribution and sales to international customers. During the second quarter, this Zacks Rank #4 (Sell) company witnessed a decline in U.S. retail channel sales, primarily due to unfavorable year-on-year comparison. The downside stemmed from lapping of last year’s stockpiling trends. Shares of the company have gone down 27.3% in the past three months compared with the industry’s decline of 6.2%.
Nevertheless, we expect the demand trends to pick up pace in the U.S. retail channel in the forthcoming periods. The company’s prudent efforts to boost offerings, strong distribution capabilities supported by well-chalked partnerships are likely to continue yielding and help boost investors’ confidence.
Image: Bigstock
Beyond Meat (BYND) to Launch Chicken Tenders, Expands at Walmart
With the rising popularity of plant-based meat options, many food companies have been expanding offerings in this space with prudent innovations. One of the forerunners in the plant-based meat arena is Beyond Meat, Inc. (BYND - Free Report) . This provider of healthy plant-based meat alternatives has been on wheels when it comes to product expansions and boosting its retail presence. The company announced the launch of Beyond Chicken Tenders across select retail chains. It is also taking its product expansion spree at Walmart Inc. (WMT - Free Report) a step further. The company plans to increase its offerings at Walmart, especially the Beyond Breakfast Sausage Patties.
Shares of the company went up 3.4% during the trading session on Sep 27. Let’s take a closer look at these latest moves.
Beyond Chicken Tenders Launch
Based on positive consumer response, Beyond Meat will debut the Beyond Chicken Tenders at select retailers nationwide. The new Chicken Tenders replicate the taste of traditional chicken tenders, but with 50% less saturated fat. Similar to the company's other plant-based meat offerings, Beyond Chicken Tenders, are devoid of GMOs, antibiotics, hormones or cholesterol. The product comes in the form of pre-cooked, ready-to-heat in the air fryer, oven or microwave and becomes ready to serve in under 10 minutes.
This product has been derived from the faba bean, a highly nutritious crop. The company believes that the unique qualities of faba beans make it the optimal ingredient for substituting the taste and texture of traditional chicken tenders. The launch upholds Beyond Meat’s continued efforts to identify new sources of plant-based protein, following the massive popularity of pea protein with the iconic Beyond Burger.
The rollout of Beyond Chicken Tenders is part of a series of breakthrough plant-based chicken innovations of the company. The company launched its first chicken product in 2012 and has since then doubled down on the category with multiple product introductions. These highly-successful innovations have driven the company to continue with its efforts to expand plant-based alternatives for chicken. In earlier efforts, the company introduced The Original Orange Chicken at Panda Express, which was available for a limited time at select locations. Beyond Meat Nuggets, a plant-based chicken nugget was launched in more than 1,000 A&W Canada locations for a limited time. Both these launches gained much popularity, resulting in being sold-out in a short duration. The company also introduced Beyond Fried Chicken, a plant-based chicken innovation created exclusively for KFC and offered for a limited-time.
Through the launch of Beyond Chicken Tenders, the company continues its history of fruitful innovations in the plant-based poultry category. The product will be made available from October onward, in the frozen food aisle category at select Walmart, Jewel-Osco, Safeway NorCal, Harris Teeter, Giant Foods and ShopRite stores. The company expects to expand its availability to more retail stores later this year.
Expansion At Walmart
Beyond Meat is increasing retail product distribution of its products at Walmart stores. Apart from introducing the latest Beyond Chicken Tenders, the company’s expansion spree at Walmart includes widening the availability of Beyond Breakfast Sausage Classic Patties, Beyond Breakfast Sausage Spicy Patties as well as the availability of Beyond Meatballs and Beyond Beef Crumbles. This marks the company’s third expansion effort at Walmart this year, following the introduction of Beyond Meatballs in May and Beyond Sausage Hot Italian in March.
Beyond Meat will increase the number of Walmart stores offering Beyond Breakfast Sausage Classic Patties by more than 1,500 stores and Beyond Breakfast Sausage Spicy Patties by more than 1,300 stores. This marks a 70% increase in Walmart stores offering Beyond Breakfast Sausage Patties.
Wrapping Up
Beyond Meat’s advanced research, innovation and culinary teams are focused on creating plant-based meat that acts as perfect substitute of their animal equivalent in terms of taste along with being beneficial for health and the planet. The company’s strong brand image and high-quality products, with stern ingredient guardrails, have helped it expand presence across the globe.
Such efforts along with a recovery in the foodservice channel contributed to the company’s second-quarter 2021 results. Its overall retail channel sales, excepting U.S. retail, have also been growing on the back of higher distribution and sales to international customers. During the second quarter, this Zacks Rank #4 (Sell) company witnessed a decline in U.S. retail channel sales, primarily due to unfavorable year-on-year comparison. The downside stemmed from lapping of last year’s stockpiling trends. Shares of the company have gone down 27.3% in the past three months compared with the industry’s decline of 6.2%.
Nevertheless, we expect the demand trends to pick up pace in the U.S. retail channel in the forthcoming periods. The company’s prudent efforts to boost offerings, strong distribution capabilities supported by well-chalked partnerships are likely to continue yielding and help boost investors’ confidence.
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