BYND Stock – Beyond Meat burgers to be sold at some Costco stores
CHICAGO (Reuters) – Beyond Meat Inc BYND.O said on Thursday that its burgers will be sold at some Costco Wholesale Corp COST.O stores, in the plant-based meat maker’s latest move in an increasingly competitive battle for retail shelf-space.
The company said its popular Beyond Burgers will be sold in states including Texas, Florida and New York for $14.99 per eight-patty pack.
The retail market for plant-based meat is heating up as food makers flood grocery aisles with new products. Beyond Meat’s main rival, Impossible Foods, recently began selling products in some stores.
Retailers themselves are starting to enter the market – Kroger Co’s KR.N private label brand Simple Truth recently began rolling out its own plant-based line, which includes burger patties.
The global plant-based market is expected to explode to an estimated $140 billion over the next decade, fueled by increasingly health-conscious consumers who want to cut down on eating meat and worry about the environmental impact of industrial animal farming.
Reporting by Richa Naidu; Editing by Chizu Nomiyama and Steve Orlofsky