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March 23, 2022

Plant-based jerky opening gambit from Beyond Meat, PepsiCo tie-up

The US manufacturers have unveiled the first products from a partnership announced last year.

By Dean Best

Beyond Meat and PepsiCo are to market plant-based alternatives to beef jerky in the US.

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Innovation Update Q2 2022: Meat and Meat Alternatives

Meat alternatives continue to push boundaries, as companies explore 3D printed, plant-based, and precision fermentation-based alternatives. As a result, shoppers are more open to experimental formulations that introduce new flavors to meat products, blur traditional food categories, or swap in new ingredient types. It is vital for their development that retailers acknowledge this range of emerging trends during these increasingly uncertain times. Brands must continue to understand how consumer needs and desires change, and offer a range of products that reflect the world around them, therefore developing purchasing and consumption decisions. Exciting non-traditional formulations are hitting the market - following the trajectories and target audiences of these launches will help other brands find their niche. Consult our report on Meat and Meat Alternatives, from the collection of >17,000 reports on GlobalData Explorer, to:  
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  • Other segment-specific analysis (packaging, design, flavors etc.)
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by GlobalData
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A range of three flavours is the first set of products to emerge from a partnership announced last year between the meat-alternatives supplier and the food and beverage giant.

The jerky, sold under the Beyond Meat brand, is available at retailers including Walmart, Kroger, Albertsons and 7-Eleven.

As well as three flavours (original, teriyaki and hot and spicy) the jerky, made from peas and mung beans, is on offer in three sizes – a one-ounce pack, a three-ounce SKU and the largest, ten ounces.

The respective manufacturer’s suggested retail prices for the different sizes are US$2, $5.29 and $14.99.

With Beyond Meat’s own products, the company focuses on the refrigerated and frozen aisles. The jerky is its first shelf-stable offering.

Dan Moisan, the CEO of the venture, which has been dubbed Planet Partnership, said the launch of the jerky “will make plant-based meat accessible to millions of households”.

Asked to point to the consumer and category data that informed the launch, the venture told Just Food: “Consumers are increasingly looking for sources of nutritious, sustainable protein, and this was the perfect opportunity to meet those needs in a plant-based snack that’s delicious and convenient.”

According to research by GlobalData, Just Food’s parent, published in November, the US meat snacks market was worth $3.41bn in 2020. The London-based data and analytics group forecasts the category could hit $4.67bn in 2025, which would represent a compound annual growth rate of 6.5%.

Sales of plant-based jerky options remain tiny by comparison. The Good Food Institute (GFI), an NGO advocating for alternative proteins, has published SPINS data that estimates plant-based jerky sales reached $3.9m in the year to the end of April 2019. Just Food has approached the GFI for more recent figures.

Proponents of plant-based meat argue alternative options to meat jerky can prosper, although there have been recent concerns about the growth rate of the overall plant-based meat market in the US.

Recent sales figures from Beyond Meat and Maple Leaf Foods have led some industry watchers to reassess how quickly the meat-substitutes market may grow in the country.

Just Food analysis: Is US plant-based meat market facing inflection point or short-term blip?

From the archive, Just Food analysis, January 2021: Scepticism greets PepsiCo’s tie-up with Beyond Meat

Related Companies

Free Report
img

Innovation Update Q2 2022: Meat and Meat Alternatives

Meat alternatives continue to push boundaries, as companies explore 3D printed, plant-based, and precision fermentation-based alternatives. As a result, shoppers are more open to experimental formulations that introduce new flavors to meat products, blur traditional food categories, or swap in new ingredient types. It is vital for their development that retailers acknowledge this range of emerging trends during these increasingly uncertain times. Brands must continue to understand how consumer needs and desires change, and offer a range of products that reflect the world around them, therefore developing purchasing and consumption decisions. Exciting non-traditional formulations are hitting the market - following the trajectories and target audiences of these launches will help other brands find their niche. Consult our report on Meat and Meat Alternatives, from the collection of >17,000 reports on GlobalData Explorer, to:  
  • Understand the current market dynamics of the Meat and Meat Alternatives Sector
  • Assess strategies implemented by companies to better penetrate the market
  • Understand the key themes in the market that these companies and their respective products appear to be targeting
  • Marketing / Advertising strategies being used by these players for specific products
  • Other segment-specific analysis (packaging, design, flavors etc.)
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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