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Dive Briefing:
- Beyond Meat has unveiled its latest product, Sun Sausage, a plant-based pioneer and the first of its kind that doesn’t mimic beef, pork or poultry. The company created the product with its own proteins that can be incorporated into other foods.
- Sun Sausage uses whole, clean ingredients like spinach, bell peppers, brown rice, and red lentils. Available in three flavors—Pineapple Jalapeno, Pesto, and Cajun—only at Sprouts Farmers Markets nationwide.
- The innovation comes as Beyond Meat continues to battle financial headwinds. After reporting its eighth straight quarter of declining sales in May, CEO Ethan Brown said he was optimistic about 2024 and that new heart-health products could help the struggling company.
Dive Insight:
The development of Sun Sausage was part of Beyond Meat's strategy to create healthier products.
The new product will be made using protein sources such as avocado oil and soy.
A Beyond Meat spokesperson told Food Dive that the company believes the product will “raise the nutritional bar” for plant-based foods overall.
The company also said it was Sun Sausage. It is certified by the American Heart Association's Heart-Check program and the American Diabetes Association's Better Choices for Life program, and other recent innovations have achieved these qualifications.
“We’re excited for our fans to try this delicious new product, as it’s unlike anything currently available in the plant-based category,” said Diana Stavaridis, Beyond Meat’s senior culinary manager.
As part of its health-focused reformulation, the company introduced products including Beyond Burger, Beyond Beef and Beyond Sausage, all of which have reduced saturated fat.
“We believe 2024 will be a significant year of change and progress,” Brown said during the company’s recent earnings call in May.
Despite his optimistic outlook, Beyond Meat has struggled as consumer interest in plant-based foods wanes.
Plant-based meat and seafood Sales in 2023 to decline for second consecutive yearAccording to the Good Food Institute's State of the Industry report, higher prices compared to conventional meat products and concerns about the processed ingredients used in plant-based meats have fueled the decline.
The company has been struggling financially recently According to the Wall Street Journal, the company has begun discussions with a group of creditors to restructure its balance sheet.
The group of creditors has a stake in the company's $1.1 billion convertible bonds after the company burned through cash in the most recent quarter.
