McDonald's Holds Back On Plant-Based Burger Trend

McDonald’s Corp MCD said Thursday that it is not sharing any plans to join the meatless burger trend, according to CNBC. 

McDonald’s shares were trading down 0.79 percent at $198.39 at the time of publication Thursday. 

During the annual shareholder meeting for the Golden Arches, Chief Marketing Officer Silvia Lagnado said the company is monitoring plant-based meat alternatives but would not disclose any plans at this time, CNBC reported. 

Global sales of the alternative meat substitutes like plant-based burgers could reach $140 billion annually in a decade, taking 10 percent of the $1.4-trillion world meat market, according to Barclays.

Los Angeles-based Beyond Meat Inc BYND is the newly public, $4.8-billion maker of a plant-based meat substitute. Beyond Meat showed volatility on increased volume on the McDonald’s update Thursday. 

Beyond Meat shares rallied and were more than 3-percent higher at $80.03 at the time of publication. 

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