Market Overview

Beyond Meat Expands Presence In Canada With Beyond Beef

Beyond Meat Expands Presence In Canada With Beyond Beef

Plant-based meat alternative food maker Beyond Meat Inc (NASDAQ: BYND) announced Wednesday its Beyond Beef product will be available to Canadian consumers.

What To Know About Beyond Beef

Canadian consumers have been enjoying Beyond Meat's plant-based burgers and sausages since May. As of Wednesday, consumers can now buy the plant-based product designed to look, cook, and taste like ground beef. The plant-based ground beef alternative is free of any GMOs, soy or gluten and includes cocoa butter to add marbling.

Compared to standard ground beef, Beyond Beef includes 18g of protein per 100g serving, more iron, 35% less saturated fat, less total fat, no cholesterol, antibiotics, or hormones.

The 2019 Canada Food Guide encourages Canadians to diversify their protein sources and emphasizes plant-based proteins, the company noted in its press release.

Canada is the only international market to offer Beyond Beef. Beyond Meat's other products are sold worldwide after the company announced a global launch to 50 countries in 2018.

Why It's Important For Beyond Meat

Beyond Meat founder and CEO Ethan Brown said Canada is a "very progressive market" and the company saw a "tremendous response" from consumers.

"We are excited to bring our latest product innovation to Canadians, welcoming a growing number of consumers to the delicious taste and nutritional and environmental benefits of our plant-based proteins."

Canadian consumers can find Beyond Beef at the fresh meat counter at their local grocery store.

Beyond Meat's stock trades around $74.65 per share.

Related Links:

Oppenheimer Sees 'Difficult' Near-Term Setup For Beyond Meat

Bernstein: Buy The Dip In Beyond Meat

Posted-In: Canada food Plant FoodNews Best of Benzinga


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