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Beyond Meat shares fell early Thursday after Tyson Foods announced its own line of plant-based protein products.
Tyson’s announcement comes just over a week after Nestle entered the plant-based meat market. Nestle plans to roll out a veggie burger in the US this fall.
Tyson will also launch blended products that contain both meat and plants.
Watch Beyond Meat trade live.

Competition is ramping up in plant-based protein.

Shares of Beyond Meat fell more than 5% in early Thursday after Tyson Foods announced it will launch its own brand of alternative-protein products, including plant-based nuggets and blended burgers made with beef and plants. The line, Raised & Rooted, will roll out nuggets to national retailers this summer and blended burgers in the fall.

This is the second large competitor that has jumped into plant-based meat alternatives, sending Beyond Meat shares lower. Beyond Meat shares on June 3 fell more than 7% after Nestle announced it will launch a veggie burger in the US this fall.

Plant-based protein is gaining popularity in the US, and is now offered in both grocery stores and at fast-food chains. The $14 billion market could balloon to roughly …read more


Source:: Businessinsider – Finance

      

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