Love the taste of bacon but don't want all the artery-clogging fat that comes with it, then brace yourself for a new bacon substitute.
Beyond Meat, the plant-based protein company that is taking on the meat industry is developing a bacon substitute. In an interview Beyond Meat Chief Executive Ethan Brown said the taste of the bacon substitute has been improving during the development process although he declined to provide a date as to when it will be launched. He did say the researchers would have to have a "surprise breakthrough" for the launch to happen in the near term.
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Beyond Meat Hooks Up with Dunkin'
In addition to hinting at an overhaul of bacon, the company inked a partnership with Dunkin' this week to sell breakfast sandwiches in New York City that feature its Beyond Meat sausage. Dunkin' plans to roll out the meatless sausage breakfast sandwich nationally in the future. Dunkin' said it is the first fast-food chain to go beyond traditional quick-serve breakfast choices.
"Beyond Meat has earned the national spotlight for its innovative products and for creating incredible awareness and excitement for the benefits of plant-based meat," said David Hoffmann, CEO and president of Dunkin' Brands in prepared remarks. "Dunkin' has always stood apart for offering new and exciting choices to meet the needs of our on-the-go guests, and we are proud to collaborate with this industry leader to become the first U.S. restaurant chain to serve a Beyond Breakfast Sausage option."
Beyond Meat's CEO said the company is also focused on improving its existing products in the market. The company's meatless patties and beef crumbles are used by Del Taco Restaurants and Carl's Jr's burgers. Blue Apron said it will use Beyond Meat's burgers in its meal kits as well.
Ever since Beyond Meat went public in May the stock has been surging as it capitalizes on the vegan craze. The company is slated to report second-quarter results on 29 July. For the first quarter, the fake meat company has sales of $40.2 million, up 215% year-over-year.
Beyond Meat has its Competitors
Beyond Meat's main competitor is Impossible Foods, which has also inked partnerships with fast-food chains to bring veggie burgers to the masses. Last month Burger King announced it was expanding distribution of the Impossible Whopper, its vegan burger using Impossible Food's meatless patties nationwide. Prior to that announcement, the Impossible Whopper was only available in Miami, Columbus and Montgomery in the U.S. The nationwide rollout is slated to happen before the end of the year.
Although Beyond Meat and Impossible Foods are striking partnerships and enjoying red-hot growth, concerns are arising about their products. In a recent study, Wall Street firm Barclays found the meatless burgers weren't as healthy as people think. They consistently contained more sodium than their original rivals. The Impossible Whopper contains 1240mg of sodium, while the Classic Whopper contains 980mg.