In this file:
· America’s Biggest Meat Company Gives Faux Burgers Another Shot
… Tyson Foods Inc.’s first attempt at an alt-meat burger was a flop…
· Tyson Foods, Beyond Meat face off with new plant-based burgers
… Companies like Beyond Meat and Impossible Foods aim to meet consumer demands for more climate-friendly diets, but sales of some of their products have slowed more recently as the plant-based trend cools…
America’s Biggest Meat Company Gives Faux Burgers Another Shot
Tyson debuts its first vegan burger, as the industry tries to make up for slow start in booming plant-based meat market.
By Michael Hirtzer, Deena Shanker, and Fabiana Batista, Bloomberg
May 3, 2021
There’s no other way to put it: Tyson Foods Inc.’s first attempt at an alt-meat burger was a flop.
Two years ago, the biggest U.S. meat company marketed a mix of real beef and pea protein to consumers with a “flexible diet.” But the half-vegan, half-not patty proved a tough sell. Tyson eventually discontinued it, saying only that it “constantly evaluates products.”
Now it’s back and trying again. On Monday, the maker of Jimmy Dean sausages unveiled a lineup of 100% vegan meat products including fresh patties, ground “beef,” fake bratwurst and Italian sausage. It’s the company’s most ambitious bet on alternative proteins, and builds on recent moves by other meat giants, including JBS SA and Marfrig, to cash in on the rapidly growing market.
Tyson—and the rest of the conventional meat industry—face an uphill battle. The alt-meat business is a crowded space with the likes of Beyond Meat and Impossible Foods dominating the market. Big Meat’s critics have been harsh. Michele Simon, the founder and former executive director of the Plant Based Foods Association, called Tyson “completely clueless.” Thomas George, president of an investment research company that focuses on millennials, said the meat industry is behind because it inherently doesn’t understand why consumers are turning to imitations...
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Tyson Foods, Beyond Meat face off with new plant-based burgers
By Tom Polansek, Reuters
via Investing.com - May 03, 2021
CHICAGO (Reuters) - Tyson Foods Inc (NYSE:TSN) is launching plant-based hamburgers and sausages ahead of the summer grilling season, the company said on Monday, increasing competition for Beyond Meat (NASDAQ:BYND) as it releases an updated version of its own faux burger.
Purveyors of plant-based meat are seeking to boost sales as COVID-19 vaccinations encourage more people to eat at restaurants and gather for backyard cookouts and other events.
Companies like Beyond Meat and Impossible Foods aim to meet consumer demands for more climate-friendly diets, but sales of some of their products have slowed more recently as the plant-based trend cools.
Tyson Foods, the biggest U.S. producer of animal meat by sales, introduced its first plant-based products in 2019. It is adding burger patties, bratwurst, Italian sausage and ground "meat" made from pea protein to its offerings, according to a statement.
The burgers, marketed under Tyson's Raised & Rooted brand, will be sold in packages of two quarter-pound patties at a suggested retail price of $4.99.
Tyson is making another attempt at an alternative burger after phasing out a patty last year that was a blend of beef and plants.
Beyond Meat, meanwhile, is launching a new version...