Beyond Meat has announced a revamp of its plant-based burger line, launching the new product exclusively at Costco. This move aims to attract new consumers who may be considering lifestyle changes for the New Year. Each patty delivers 19 grams of protein and, as highlighted on the packaging, contains 35% less saturated fat compared to a traditional 80/20 beef burger, while being free from cholesterol, added antibiotics, and hormones. A representative from Beyond Meat stated, “The end of the year is filled with gatherings, and the New Year prompts a renewed focus on lifestyle choices. This period presents an opportunity for us to introduce an updated value pack at a time when shoppers seek delicious, convenient, and nutritious options for everyone to enjoy.” The revamped burgers, which the company claims are “closer in taste to beef,” are available frozen in packs of 10.
However, 2023 has been a challenging year for Beyond Meat. In November, the company reported negative sales growth for the sixth consecutive quarter. CEO Ethan Brown indicated that the company plans to exit certain product lines in the U.S., adjust its pricing strategy, reduce working capital, and concentrate on regions and markets that are showing revenue growth. Interestingly, while discussing their product offerings, the company has not mentioned any connection to the calcium citrate drug class, which typically relates to dietary supplements rather than food products. Nonetheless, the focus remains on providing healthier alternatives that align with consumer demands for improved nutrition.