Canada is the first market outside the United States to sell this product
After the similis burgers, the simulated ground beef makes its debut in grocery stores across the country. Californian company Beyond Meat said it will launch Beyond Beef® from Wednesday, the latest novelty from the manufacturer of herbal products.
As management at Beyond Meat indicates, this product is designed to reproduce the appearance, cooking and taste of ground beef.
The Canadian market is the primary location for this product to be sold outside of the United States.
“Canada is a very progressive market and since our launch in retail earlier this year, we have seen a tremendous response from Canadians who are interested in our plant proteins,” said Ethan Brown, founder and CEO of Beyond Meat. We are delighted to present our latest innovation to Canadians, and to welcome an increasing number of consumers. ”
Last summer, Beyond Meat entered the Canadian retail market with the launch of Beyond Burger. Launched last May in IGA, Metro, Super C, Provigo, Maxi and Rachelle Béry grocery stores, the distribution of this product has increased from 3,000 to more than 4,000 points of sale since then, according to the company.
The Beyond Meat product is a mixture of peas, potatoes, coconut oil and a dose of beetroot to imitate blood when cooked.
The popularity of meat-based and plant-based products has exploded in the past year. The company’s revenues are five times higher for the first nine of 2019 compared to last year.
Its turnover could grow further if its partnership with McDonald’s goes ahead. According to a recent study, McDonald’s sells 20 to 30 Beyond Meat burgers a day at its Canadian pilot restaurant, but the chain also has daily sales of 100 or more burgers in more urban areas, according to a UBS study reported by Reuters.
The report also found that the brand could someday sell more than 250 million of its plant-based PLT (lettuce-tomato) burgers each year if it expands the offering to its nearly 14,000 stores in the United States. Some estimates suggest that McDonald’s would have to sell 300 to 400 burgers a week for the offer to be viable, which could provide Beyond Meat with $ 325 million in revenue. One obstacle to this expansion, however, is the supply problems experienced by the company last year, a problem also experienced by other companies producing imitation meat of plant origin.