Beyond Meat (NASDAQ: BYND) is set to introduce its newest version of meat-free burger patties to grocery stores by next week. The burger is made with 35% less fat and saturated fat, as well as no cholesterol and less calories compared to 80/20 beef.
The latest Beyond Burger 3.0 will be sold in grocery stores nationwide starting May 3. The product will come in a 2-pack for USD5.99, a 4-pack for USD9.99 and 1lb Beyond Beef packs for USD9.99. This will be the company’s first launch since it originally debuted its Beyond Burger in 2016.
“We are continuously working on understanding beef flavor at a deeper level to ensure our plant-based beef platform delivers a delicious and satisfying sensory experience. The new Beyond Burger’s rich flavor profile resembles that of ground beef, and extensive testing with our consumers validated this new flavor direction with likeability scoring on-par with 80/20 ground beef burgers,” Dariush Ajami, Chief Innovation Officer at Beyond Meat, said in a statement.
According to Beyond’s’ Chief Growth Officer Chuck Muth, upgrading its meat alternatives helps it maintain its market share, despite rivals like Tyson Foods and Kellogg offering meatless burgers as well.
“As one of the first movers in the category, we do have a prominent position,” Muth said. “We’re only going to stay there if we continue to innovate, and we will always stay focused on our innovation and improving our products.”
Beyond Meat shares skyrocketed 21% within the last 12 months and has a market value of USD8.33 Billion.