Beyond Meat has plans to launch a mycelium-based whole-cut steak alternative, responding to growing consumer demand for clean-label alternatives, reports CNBC.
President and CEO Ethan Brown said that the new filet would roll out in a healthy restaurant chain instead of McDonald’s, Dunkin’, or KFC; however, he did not give a launch date.
“The focus on this has been a very small number of ingredients, very high protein, and very low saturated fat,” Brown told CNBC.
Mycoprotein for realistic alternatives
Mycoprotein, an ingredient derived from mycelium made with fermentation technologies, is becoming a popular in meat alternatives due to its muscle-like texture, adaptable mild flavor, low saturated fat content, and nutritional profile rich in essential amino acids, fiber, iron, zinc, and potassium.
Companies using mycoprotein as a key ingredient include Austria’s Revo Foods, which has introduced salmon and octopus alternatives; the UK’s Quorn, famous for its fish and meat alternatives; and Adamo Foods, which has gathered attention for its whole-cut realistic steaks. In the US, Meati makes various filets, The Better Meat Co. is en route to achieving price parity with meat, and MyForest Foods has launched a realistic bacon.
The run for clean-labels
Amid consumer demands for clean-label options and misleading narratives cataloging plant-based alternatives as ultra-processed foods, Beyond Meat has taken significant steps this year to improve the taste, nutrition, and ingredient transparency of its plant-based meat products.
The company’s new Beyond IV platform includes products with an overhaul of the original recipe with clean ingredients, an improved nutritional profile, and better cooking features.
The new Beyond Burger, Beyond Beef, and Beyond Sun Sausage formulations include healthier fats such as avocado oil, significantly reduced saturated fats and sodium, and more protein content. The products have been certified by the American Heart Association’s Heart-Check program, indicating they meet third-party nutritional standards.
Brown says the Beyond IV portfolio has been met with “consumer, media, and nutritionist enthusiasm.” This positive reception appears to be translating into financial success. Recently, Beyond Meat published its financial results for Q2 2024, showing that the company exceeded revenue guidance and achieved its best quarterly margin since Q2 2021.
“We are pleased to report a strong quarter of progress against our 2024 plan, a pivotal year on our path to sustainable operations and profitability. Alongside the strengthening of our operations and product portfolio, we are working on bolstering our balance sheet,” said Brown.
