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Beyond Meat chicken tenders to debut in grocery stores next month


Beyond Meat’s meatless chicken tenders

Source: Beyond Meat

Beyond Meat’s meatless chicken tenders are heading to the freezer aisles of grocery stores.

On Monday, the manufacturer of meat substitutes announced that their latest product will go on sale in grocery stores across the country in October.

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Beyond announced the new version of its plant based chicken in July. Panda Express used it as part of its meat-free orange chicken in select markets, while more than 1,000 A&W locations in Canada sold out of its Beyond Meat Nuggets. These tenders became the new Beyond chicken replacement in the United States after Panda Express discontinued its chicken frozen strips.

It uses faba bean as its source of protein in the new version.

Ethan Brown, CEO of the company stated that it was important for consumers to have a variety of protein options. You’ll find products with different proteins in the years ahead.

Brown stated that the company was taking cues from customers’ shopping habits. People who shop at the grocery store for meat often buy multiple proteins and add chicken, fish, and beef to their shopping carts.

“We’re trying to build out a plant-based option for consumers across the meat aisle — wherever they’re consuming something that is animal protein, we want to offer a plant-based version of it,” Brown said.

According to the company the chicken tenders are half as saturated as traditional chicken tenders.

Beyond’s U.S. sales made up about three quarters of the company’s latest quarter. The pandemic caused both segments to be affected by its business. Restaurants closed and customers filled their pantry with nonperishable foods.

Brown explained that there is a delta variation now, so it is more of a mixture of everything. Although it’s less obvious than before the pandemic, we continue to see great sales of our products in retail and expect this new product to be very well received.

Select Walmart, Harris Teeter, Giant Foods and Shoprite locations will stock the chicken tenders at a suggested retail price of $4.99 per package. Beyond expects to add additional retailers and stores later in the year. Brown explained that the Beyond product will be in the frozen section, however, it won’t go side-byside with any other Beyond products.

Walmart will also increase its Beyond Meat product distribution by opening more stores that offer its meatless sausage patties and meatballs, as well as beef crumbles. Walmart is expanding Beyond’s shelf area for the third consecutive year. Brown stated that the goal of this expansion is to keep the product easily accessible and communicate its health benefits. Also, to lower animal protein prices.

Brown explained that Beyond Meat was not focused on the luxury restaurants. We appreciate and respect that, but we are focused on providing food for consumers, wherever they shop, and in the mainstream. Walmart is the best example of this.

Although supply chain issues and labor problems have reverberated throughout the food sector, Brown stated that it hasn’t affected Beyond Meat nor its chicken supply.

Brown stated that there are supply chain problems in all industries, including transportation and logistics. However, this is not a problem specific to the product.

Beyond shares have dropped 9% in the past year, which has brought its market value to $7.15 Billion.