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Beyond Meat’s Sausage Added To The Menu Of Dunkin’


07/24/2019


Beyond Meat’s Sausage Added To The Menu Of Dunkin’
The importance of alternative plant based meat is increasing. While the astronomical growth in the price of its initial public offering (IPO) of the United States based alternate meat company Beyond Meat, that increased by as much as 500 per cent in a few days, was an early indication of the growing popularity of alternative meat, it is now finding its place in the menu of snacks and coffee chains in the country.
 
The latest in that list is Dunkin’ which said that it would be adding products from Beyond Meat to its menu. According to the new menu, Beyond Sausage would used for making sandwiches to be served as a breakfast at the stores of the coffee chain. The company said that the initial offering would be made at locations in Manhattan. Later the company would be roiling out the menu in the rest of the United States in the near future.
 
Following the announcement, there was a 3 per cent in the shares of Beyond while a 2 per cent increase in the stock price of Dunkin’ was noted in premarket trading on Wednesday.
 
This is the first occasion that Beyond Sausage has been added to the menu of any US restaurant chain. Breakfast sandwiches made with the plant-based meat substitute was recently rolled out in its menu by the Canadian coffee chain Tim Hortons, which is owned by Restaurant Brands International. The coffee chain also rolled out its first ever burger which is a Beyond Meat burger and has included it in its menu.
 
A number of restaurants have been prodded to add products from Beyond and its competitor Impossible Foods because of rising demands from consumers for a greater variety and quantity of vegan and vegetarian food options. However some of the larger food chains such as McDonald’s and Chick-fil-A are yet to yield to the trend.
 
According to a recent survey conducted by the NPD Group, there is an attempt by about 18 per cent of Americans to reduce the meat that they consume in their daily food. According to Euromonitor data, in 2018, the total market value for meat substitutes in the United States was at $1.44 billion. The market share of Beyond Meat is only about 2 per cent of that.
 
Currently, the stock price of Beyond Meat is trading at a 700 per cent high compared to its IPO price that was launched in May this year because of high enthusiasm of investors to invest in this future looking industry and cash in on the increasing craze for vegan meat. The stocks of the company crossed the $200 a share mark ahead of its earnings report on Monday and touched an all-time high of $208.48 on Tuesday. The market capitalization of the company now stands at $11.8 billion.
 
And since the beginning of the year, there has been an appreciation of 25 per cent in the shares of Dunkin which raised its market valuation to $6.6 billion.
 
(Source:www.cnbc.com)


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