To match Costco customers' love for big sizes, Beyond Meat will — for the first time — sell an eight-pack of patties for $14.99. The burgers are typically sold in packs of two.
The burgers won't be available at every Costco location: Beyond Meat said they'll only be available in select stores.
Partnering with Costco is the latest major expansion for Beyond Meat. In November, Dunkin' (DNKN) began selling a Beyond Meat breakfast sandwich nationally across its 9,000 stores. It also inked deals for new items at KFC in Georgia for its new chicken alternative and McDonald's in Canada for a new sandwich.
Beyond Meat, which also comes in sausage form, is sold at a number of stores including Walmart (WMT), Target (TGT), ShopRite and Publix.
Demand for fake meat has surged, and several competitors have entered the market. Kroger (KR) is testing out a dedicated plant-based protein section in its meat aisle at some of its stores and is also launching its own line of meat substitutes. Nestle (NSRGF) began selling the Awesome Burger, a plant-based patty that looks and tastes like meat. Kellogg (K) offers the Incogmeato brand of plant-based foods.
Beyond Meat's stock has surged since its May initial public offering, rising to as high as $150 from its $25 IPO price. The stock has cooled off since then, currently trading around $70, but investor enthusiasm remains elevated. Beyond recently reported its first quarterly profit.
The meat substitute protein trend could be a boon for Costco and other retailers that begin selling it. Barclays predicts the alternative meat sector could reach about $140 billion in sales over the next decade, capturing about 10% of the global meat industry. Jefferies predicts that by 2040, the alternative meat market could make $240 billion in annual revenue globally.
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December 06, 2019 at 12:45AM
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Beyond Burgers are coming to Costco - CNN
"Meat" - Google News
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