Hot dogs might be next to receive a makeover with plants.

Kraft HeinzThe Not Company is a Chilean startup worth $1.5 million that makes plant-based replacements for meat, eggs and milk. It was announced Tuesday by Kraft Heinz that they are forming a joint venture. Kraft Heinz’s shares rose 5% on Tuesday following the announcement. On Wednesday morning, shares of Kraft Heinz were roughly flat.

Kraft Heinz U.S. President Carlos Abrams Rivera announced Wednesday, CNBC. “Squawk Box.”

He added, “It is thinking about whether or not you have Oscar Mayer Hot Dogs or Oscar Mayer Hot Dogs.”

Kraft Heinz is currently undergoing a major turnaround, which includes revamping some of its most iconic brands such as Oscar Mayer. A year and a half ago, the company revealedOscar Mayer’s master plan included simplified ingredient lists, new packaging and marketing that emphasizes its iconic status. Following a decrease in its market value during the fourth quarter 2018 and the second quarter 2019, the brand was rebranded.

Abrams Rivera explained that the aim of the joint venture was to “democratize” plant based food. These meat substitutes are designed to replicate the flavor and texture of animal-based versions, similar to those produced by Beyond MeatImpossible Foods still costs shoppers more at the grocery store than regular beef and chicken.

Abrams Rivera reports that about a third (33%) of Americans eat a flexitarian lifestyle, in which less meat is consumed and more plants are used. Big Food is following the lead of more people who have adopted meat-free diets. PepsiCoBeyond is collaborating with Beyond to develop new, plant-based drinks and snacks. Biggest meat processor Tyson FoodsEach company has its own line plant-based replacements.

However, there are still some who doubt the value of plant-based alternatives in the long term. Beyond Meat has had its stock tumble by 65% over the past twelve months, as investors have expressed their doubts. Wall Street analysts are losing faith in Beyond Meat as the grocery industry’s growth slows.