US-based producer of plant-based meat substitutes Beyond Meat is set to introduce a new steak alternative as part of its focus on health, CNBC reported.
The launch was likely to include a partnership with a restaurant chain known for serving healthier food rather than teaming up with fast-food chains such as Dunkin’ and McDonalds, Beyond Meat’s CEO Ethan Brown was quoted as saying on 4 September in the report on the same date.
More than six months’ ago, the company announced a new strategy that included cutting costs and increasing prices, CNBC wrote.
The new strategy focused on the health benefits of eating a plant-based diet through partnerships with organisations such as the American Cancer Society, the report said.
Health had always been a part of Beyond Meat’s promotional pitch to consumers, but previously the company had also emphasised climate change issues, CNBC wrote.
Although Beyond Meat already sold plant-based steak tips, the new product mimics the texture of a filet with mycelium, the rootlike part of fungi, the report said.
The steak alternative could be used as a substitute for chicken, topping salads and stuffing burritos as a source of protein, Brown said.
“The focus on this has been a very small number of ingredients, very high protein, very low saturated fat,” he added.
The company was also launching reformulated versions of its Beyond Burger and Beyond Chicken products, CNBC wrote.
At the time of the CNBC report, Beyond Meat declined to share any details on the timing of the launches for its latest steak or chicken options.
Sales of plant-based foods, including milk, meat, egg and butter alternatives, increased by 1% to US$8.1bn last year, according to data from the Plant Based Foods Association. The milk alternatives segment accounts for roughly a quarter of the category’s total retail sales, followed by plant-based meat.
