Costco to sell Beyond Meat burgers in select states
Stores in California, Texas and New York will carry the plant-based patties
Beyond Meat burgers will be available at Costco.
The patties will be available at the grocery clubs in select states, including in California, New York and Texas, a spokesperson for the company confirmed to FOX Business
While the burgers are already available at certain Costco locations, they will launch on a larger scale by the end of the month. The patties will come in packs of eight for $14.99.
Beyond Meat will be sold at Costco. Courtesy of Beyond Meat.
The move comes as Beyond Meat is engaged in an increasingly heated battle for retail shelf space. Impossible Foods, a direct competitor, began selling in stores like Gelson’s Markets in California, Wegmans stores on the East Coast and Fairway Market in New York.
Even some supermarkets themselves are jumping in the market: Kroger’s store brand Simple Truth began selling its own plant-based food line, which includes burgers.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BYND | BEYOND MEAT INC. | 4.89 | -0.12 | -2.40% |
And the global plant-based market is expected to grow, too, reaching a whopping $140 billion over the next decade, according to investment bank and financial firm Barclay’s.
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Beyond Meat will be sold at Costco. Courtesy of Costco.
“Although today we believe that there are inherent barriers to successfully replicating certain animal-based consumer favorites (e.g., T-bone steaks), what has been achieved so far in terms of ‘meatless’ ground beef, sausage and hamburger products has yielded positive initial consumer reaction, which should bode well for the alternative meat sector to grab its fair share of the global meat market,” the company said in a statement.
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In its third quarter this year, Beyond Meat reported net revenue greater than $90 million.