Beyond Meat has launched a new nutrition “platform” as the struggling US plant-based protein group broadens its portfolio into bars and powders.
California-headquartered Beyond Meat is calling the platform “Phytosphere”, which it said is “designed to make it easier to access the superpowers of plants”.
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As well as protein powders and a “jerky” bar, it will also feature beverages and “center-of-plate offerings”, bringing the products together in an “integrated nutrition platform that allows consumers to stack nutrients – from plant protein and fibre to polyphenols and phytosterols”, according to a statement.
The Phytosphere rollout builds on Beyond Meat’s surprise move into beverages earlier this year. In January, Beyond Meat unveiled Beyond Immerse drinks and began test-launching a line of “plant protein” beverages.
Phytosphere is being rolled out via a direct-to-consumer sales channel with a newly launched Beyond Plant Protein website.
Beyond Meat founder and CEO Ethan Brown said: “The nutritive benefits of plants are extraordinary, yet we often fail to get meaningful amounts of these superpowers in our modern diet.
“The Phytosphere portfolio invites the consumer into a world where access to powerful phytonutrition is cutting edge, delicious, and convenient. As with our innovation more generally, we are building out the Phytosphere portfolio with our consumers, and for our consumers, and have been looking forward to this launch.”
The Nasdaq-listed business is calling the new range the Beyond Star Series.
Plant-based protein powders feature under Beyond Starmatter, while the jerky bar takes on the name of Beyond Starcut.
Beyond Starmatter is available in six flavours: vanilla, salted caramel, strawberry banana, golden latte, and plain.
It is a “nutrient-boosted protein powder that delivers plant protein, fibre, probiotics, extracts with polyphenols, plant sterols, biotin, adaptogens, vitamins, minerals, and more”, Beyond Meat said.
Beyond Starcut comes in “Asada Style, Spicy Southwest BBQ Style, and Classic Dill Flavoured” based on mycelium.
The bars provide 17g of protein, 3g of fibre and zero added sugar. They have no added antibiotics or hormones, and no added nitrates or nitrites, Beyond Meat explained.
The Star Series also includes Beyond Veggie, a fruit and vegetable-based burger available in Chipotle Black Bean and Spiced Chickpea flavours. Other ingredients are legumes, seeds, “plant protein, extracts with polyphenols, and plant sterols”.
Rounding out the line-up are three flavours of the Beyond Immerse sparkling drinks – Peach Mango, Strawberry Lemonade, and Cherry Berry – with “20g of plant protein, 5g of fibre, electrolytes, and antioxidants with just 110 calories per can”.
Consumers can buy the products individually or in bundles labelled “On-the-Go, Essentials, Performance and Elite”.
The launch marks another attempt by the company, which started out in its early days with the Beyond Burger, to open up new avenues for growth after a bruising stretch that has included falling sales and volumes and balance-sheet pressures.
Although Beyond Meat reported second-quarter revenue of $68.8m and a net profit of $16.4m, it has struggled to deliver a profit since going public in 2019.
Foodservice volumes also remained under pressure in the quarter.
Demand in the foodservice channel was also constrained. Second-quarter foodservice volumes in the US dropped 27.4%. International out-of-home volumes fell 20.4%.
Beyond Meat has also been working to maintain its Nasdaq listing compliance. Recently, it moved ahead with a 1-for-30 reverse stock split to address the exchange’s minimum bid-price requirement after trading below $1 for an extended period.
The shares closed the day yesterday (9 September) down 2.77% at $10.90. They have lost 58.8% of their value so far this year
