Beyond Meat and Pepsi Launch Vegan Beef Jerky: Where to Get It
Beyond Meat just unveiled its newest plant-based meat product, Beyond Jerky – the company’s vegan beef jerky made from mung beans and peas. In partnership with PepsiCo, Beyond developed the soy-free plant-based beef jerky through the company’s joint venture, Planet Partnership. The vegan beef jerky will be the Planet Partnership’s flagship product as the joint venture begins to enter new food categories.
The new Beyond Jerky is slow-roasted to mirror the original and widely popular taste and texture of traditional beef jerky. The vegan jerky contains 10 grams of protein per serving without any cholesterol, which is significantly less than the 25 grams typically found in beef jerky products. Beyond will offer its vegan jerky in flavors that include Original, Hot & Spicy, and Teriyaki. Customers will also be able to choose between 1-ounce, 3-ounce, or 10-ounce packages.
“We are thrilled to introduce the first product from Planet Partnership, our joint venture with Beyond Meat and PepsiCo,” Planet Partnership CEO Dan Moisan said in a statement. “The nationwide launch of Beyond Meat Jerky will make plant-based meat accessible to millions of households. It tastes great, it’s a good source of protein, and it’s convenient to eat whether you’re on the go, at the office, or out on adventures.”
PepsiCo’s contribution will allow Beyond to offer its new meat-free snack to more outlets than ever before, becoming the company’s most widely accessible product. The Beyond Jerky is expected to be available to millions of customers nationwide. You can find the new plant-based snack at gas stations, convenience stores, pharmacies, supermarkets, and several other retailers nationwide.
Beyond Meat Eyes Future Growth
Early last year, Beyond and PepsiCo launched the Planet Partnership join venture to improve access to plant-based products nationwide. Beyond aims to utilize Pepsi’s marketing and manufacturing networks to improve its distribution capabilities into the future. By joining forces, the two companies intend to capitalize on a rapidly growing industry. The vegan snack market is expected to reach $73 billion in 2028, giving both companies reason to invest in the new Beyond Jerky.
Since launching on the US stock market in 2019, Beyond’s share has gradually dropped. From its market high at $234.90, Beyond fell to approximately $38.76 per share this March. However, over the past month, Beyond market price has surged $10 percent to $52.19, expected only to continue rising with the expansion of the Planet Partnership venture. During the last earnings call in February, Beyond CEO Ethan Brown explained why retail sales were down 19.5 percent, teasing the release of the vegan jerky.
“We have a major product, which I actually have in my hands right now and I’ve been snacking on during the call,” Brown told analysts. “That took an enormous amount of time and energy to get ready, and it’s a fantastic product.”
By expanding its product development into the snack category, Beyond is also helping lower the prices of plant-based beef production. A recent report claimed that the price gap between vegan meat and animal-based meat is expected to close by 2023. While the gap is still substantial, at $3.95 for a pound of beef and $7.79 for a pound of Beyond Meat, increased investment and production across the plant-based industry is helping drive down the price of plant-based beef.