Tyson Foods to Release Their Own Plant-Based Meat After Selling Shares in Beyond Meat
A representative from Tyson Foods say the company is expected to be a “market leader in alternative protein.”
Tyson Foods, the nation’s leading producer of meat, is now stepping into the plant-based protein arena. This morning, the company announced their new line of meat alternatives, Raised & Rooted, which will offer both plant-based and meat-vegetable hybrid proteins.
Tyson’s new line will include plant-based nuggets, expected to hit grocery stores this summer, and an Angus beef-vegetable blend burger, which is expected to debut later this fall. Additionally, Tyson’s existing Aidells brand has launched Aidells Whole Blends sausage and meatballs, made with a blend of chicken and plant-based ingredients like chickpeas, quinoa, and lentils.
“Today’s consumers are seeking more protein options so we’re creating new products for the growing number of people open to flexible diets that include both meat and plant-based protein,” said Noel White, president and CEO of Tyson Foods. “For us, this is about ‘and’ – not ‘or.’ We remain firmly committed to our growing traditional meat business and expect to be a market leader in alternative protein, which is experiencing double-digit growth and could someday be a billion-dollar business for our company.”
Interested in learning more about the the plant-based protein craze?
This news comes about two months after Tyson Foods sold their share in Beyond Meat, who recently went public and saw their sales jump 436% this year. According to Markets Insider, Beyond Meat’s stock fell more than five percent after Tyson’s announcement this morning.
As restaurants and grocery stores are struggling to keep up with the demand for plant-based meat alternatives, like the Impossible and Beyond Burgers, it will be interesting to see how much Tyson impacts the industry. White said this market is growing by double-digits, and they anticipate their new plant-based products could be a billion-dollar business for their company