Beyond Meat (BYND) has unveiled its latest plant-based beef products, “Beyond IV,” featuring new patties and ground beef using avocado oil as a key ingredient. The company aims to address critics of the nutritional benefits of plant-based meat by creating products that are deemed “unassailable from a health perspective.”
The shift to avocado oil has resulted in a 60% reduction in saturated fat compared to the previous version, which used a combination of canola oil and refined coconut oil. Beyond Meat claims that the new patty contains 14 grams of total fat (the same as the prior version) and 2 grams of saturated fat (compared to 5 grams previously) per serving. Additionally, the sodium count has been reduced by 20%, with other new ingredients such as red lentil and faba bean protein replacing the previous mixture of pea and rice proteins.
Beyond Meat emphasizes that the new product line has received recognition from the American Heart Association (AHA) as a “heart-healthy recipe.” CEO Ethan Brown states that the label signifies an “absolute health claim” rather than relative health claims.
The introduction of “Beyond IV” represents a strategic move for Beyond Meat, aiming to redefine the plant-based meat industry. The company faces challenges related to the perception of plant-based meat’s healthiness compared to regular meat, with critics highlighting high sodium levels and the processed nature of these products.
Beyond Meat’s financials have faced scrutiny, leading to a reduction in its non-production workforce and a softer-than-expected third quarter. The company is set to report its fourth-quarter and full-year results on February 27, with analysts anticipating a decline in sales for Q4 2023. Beyond Meat’s stock has experienced a significant decrease, currently trading at $7.18 per share, down 60% over the past year.
CEO Ethan Brown remains optimistic about the new product line, suggesting that it could be a reset moment for Beyond Meat and an accelerant for the reinvention of the plant-based meat category.
