Market Overview

Starbucks To Offer Impossible Foods, Beyond Meat Products In 7 Asian Markets

Starbucks To Offer Impossible Foods, Beyond Meat Products In 7 Asian Markets

Starbucks Corporation (NASDAQ: SBUX) said Monday it would be adding new plant-based food and beverage options in select Asian markets this month.

What Happened: The Seattle-based coffee chain will add foods sourced from Beyond Meat Inc (NASDAQ: BYND) and  Impossible Foods in markets such as Hong Kong, Singapore, New Zealand, Thailand, and Taiwan, the company said in a statement.

“We’re excited to continue our journey toward becoming resource positive together with our customers in Asia,” Starbucks Asia Pacific President Sara Trilling said on the menu expansion.

New food items include a Spiced Impossible Puff and Maize Impossible Sandwich in Hong Kong as well as a Beyond Meatball Sandwich in Taiwan.

Why It Matters: Starbucks is also introducing Oatmilk Cocoa Macchiato from Oatly, a European private plant-based milk company in eight markets on the continent.

This summer, the coffee chain added a breakfast sandwich, which uses ingredients made by Impossible Foods, at 15,000 of its stores in the United States after introducing similar Beyond Meat products in China and Canada.

In July, a judge in Florida ruled that Restaurant Brands International Inc (NYSE: QSR) unit Burger King didn't mislead vegans and vegetarians vegans and vegetarians on the nature of its Impossible Whopper product.

Price Action: Starbucks shares closed 0.24% lower at $86.27 on Friday.

Photo courtesy: Impossible Foods


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Posted-In: Asia Impossible Foods plant-based meat restaurant chainsNews Retail Sales Events Global Best of Benzinga

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