Beyond Meat Inc (BYND)

[slimhere]

UPDATE: Beyond Meat, Incogmeato, Impossible Foods up ante in plant-based meat market
7:01 am ET August 27, 2020 (MarketWatch)
Share
Print

By Jon Swartz

Consumers hungry for more plant-based meat options are getting plenty Thursday.

Beyond Meat Inc. (BYND) launched an e-commerce site, shop.beyondmeat.com, that offers its products directly to consumers, while Incogmeato by MorningStar Farms is offering the largest new product line launch in the brand's 40-year history.

The direct-to-consumer site is the digital equivalent to Beyond's presence in more than 26,000 retail outlets nationwide, including Target Corp. (TGT) and Amazon.com Inc.'s (AMZN) Whole Foods Market Inc., as well as club stores such as Costco Wholesale Corp. (COST) and BJ's Wholesale Club Holdings Inc. (BJ) .

Meanwhile, MorningStar Farms, a division of Kellogg Co. , is rolling out a Iine of meatless burger patties, bratwurst, Italian sausage, and Chik'n nuggets as part of a nationwide marketing campaign, according to Sara Young, general manager of plant-based protein at Incogmeato, told MarketWatch in a phone interview.

Young said 60% of Americans want to try plant-based proteins, based on a Cambridge Group study.

The moves come amid a significant ramp-up in the distribution of meat-less products to consumers. Since March, Impossible Foods Inc. has increased its presence at grocery outlets 60 times to 9,000 stores that include Kroger Co. (KR) and Walmart Inc. (WMT) . Additionally, Impossible products are sold through Starbucks Corp.'s (SBUX) 15,000 stores. In June, Impossible launched a direct-to-consumer e-commerce site with free delivery for orders over $75 in the continental United States.

This week, Impossible said its flagship product is now available in packages of two pre-formed, quarter-pound (4-oz.) burger patties at nearly 2,000 grocery stores nationwide owned by Kroger (https://www.businesswire.com/news/home/20200825005364/en/).

Read more: Impossible Foods gets $200 million in funding (http://www.marketwatch.com/story/impossible-foods-gets-200-million-in-funding-2020-08-13)

-Jon Swartz; 415-439-6400; [e-mail]

(END) Dow Jones Newswires