Despite its financial woes, Beyond Meat Inc., one of the leaders in the new generation of plant-based burgers, last week launched Beyond Steak, a “juicy, tender and delicious bite of seared steak tips with the added nutritional and environmental benefits of plant-based meat.”
Although marketed as a whole-muscle analogue, Beyond Steak is “chopped into bite-sized pieces,” making it suitable for dishes such as fajitas, tacos, stir fries, sandwiches and salads. It has 21g of protein per serving, is low in saturated fat and has zero cholesterol, antibiotics or hormones.
The product launched at Kroger and Walmart stores nationwide, as well as at select Albertsons and Ahold divisions and other retailers across the country. In addition to its flagship Beyond Burger, the company’s portfolio includes Beyond Beef and Beyond Meatballs.
Consumer interest in analogue meats seems to be waning. Last month, Beyond Meat said it will lay off 200 employees by the end of this year, incurring a $4 million charge to do so. It also adjusted its expected earnings for the third quarter down to $82 million, which would be about 23% less than earnings for the same quarter last year. Full-year earnings were adjusted to $400 million to $425 million, down from its previous prediction of $470 million to $520 million.
