Beyond Meat Inc. is meeting consumers’ demand for more plant-based meat options by undertaking several major product expansions within its existing footprint at 5,000 retailers nationwide. This increased distribution strengthens the company’s expansive retail presence at approximately 28,000 retail outlets across the United States.
“Last year, we expanded our retail portfolio by introducing six new product SKUs,” said Chuck Muth, chief growth officer at El Segundo, California-based Beyond Meat. “In tandem, we’ve been able to work with major retailers across the country to expand our in-store presence to offer more Beyond Meat products in more stores to advance our unwavering commitment towards making plant-based meat options that are better for people and the planet more accessible to all.”
The plant-based company also has its eye on creating new snack and beverage options. In January, it formed a joint venture with Purchase, New York-based PepsiCo. The companies are forming The PLANeT Partnership to develop, produce and market snack and beverage products made from plant-based protein. For Beyond Meat, the venture allows the company to expand its product lines and sell even more product in the grocery sector.
Beyond Meat’s current expanded retail product availability includes:
- Beyond Meatballs now available at approximately 1,500 Kroger stores, 750 Target stores and 163 Giant Food stores to offer shoppers a pre-rolled and ready-to-cook option with 30% less saturated fat and sodium than a leading brand of animal-based Italian-style meatballs, according to the company.
- Beyond Breakfast Sausage Links, made with 40% less sodium than a leading brand of pork sausage links, are now offered at approximately 1,500 Kroger stores.
- Cookout Classic plant-based burgers, sold frozen in a value-pack, were first introduced as a permanent retail offering within Walmart stores in March 2021. The item is expanding throughout April and May to more than 3,000 existing Beyond Meat retail partner stores nationwide, including Wegmans; Albertsons/Safeway (Mid-Atlantic, NorCal, Phoenix and Portland); FreshDirect.com, Jewel-Osco, Sprouts Farmers Market; Stew Leonard’s; and Stop & Shop.
- Beyond Sausage is newly available at more than 200 Super Target stores, and most recently, Beyond Meat expanded distribution of Beyond Sausage Hot Italian within Walmart stores in March 2021, offering shoppers more protein and iron and less total and saturated fat than traditional pork sausages, with no cholesterol, antibiotics or hormones.
Beyond Meat revealed its expanded distribution a few days after competitor Impossible Foods launched its first national advertising campaign, “We Are Meat.” Additionally, Impossible Foods said in February that after achieving cost savings, it was cutting retail prices by 20% throughout the United States.
Meanwhile, Beyond Meat reported its fourth-quarter 2020 financial results in February. Net revenues were $101.9 million, an increase of 3.5% year over year. Gross profit was $25.4 million, or gross margin of 24.9% of net revenues.