Beyond Meat debuts steak meat alternative
- Nathan Bomey, author of Axios Closer
Beyond Steak is Beyond Meat's new meat alternative. Photo courtesy of Beyond Meat
Beyond Meat on Monday debuted its newest meat alternative, hoping to juice its sales during a tumultuous time for the plant-based food maker.
Driving the news: The company introduced Beyond Steak, saying the plant-based product is "designed to deliver the juicy, tender and delicious bite of seared steak tips."
- Sales of the 21-protein-per-serving product will launch at Kroger, Walmart, certain Albertsons stores and some additional retailers throughout the country.
State of play: Beyond Meat's stock is down about 80% this year as the company recently slashed its revenue outlook, cut staff and jettisoned an executive accused of biting another man's nose in a fight.
- The company has cited inflationary pressures as one cause of consumers trading down to cheaper protein choices.
Proponents say meat alternatives can taste good and help the environment, avoiding much of the impact left by traditional farming.
Nathan's thought bubble: Like other meat alternatives, the devil is in the taste and cost.
- "Perfect for quick and easy meals, Beyond Steak can be prepared in a skillet or air fryer in just five minutes," the company said, noting that it can be used in everything "from fajitas and tacos to stir fries, sandwiches and salads."