Beyond Meat rolls out new version of vegan burgers

Beyond Meat will launch the latest version of its meat-free burger patties in grocery stores across the US next week.

After the launch of its first burger in 2016, the meat-free patties are now sold in over 28,000 stores in the US.

The Beyond Burger 3.0 will launch in stores on Monday and will be available in restaurants by June.

Pre-pandemic, restaurants and cafeterias accounted for about half of Beyond’s total sales, but the crisis has shifted that balance sharply in favor of grocery and convenience stores.

Retail sales rose 76% to $62.1m during the company’s fourth quarter.

Shares of Beyond have risen 21% over the last 12 months, giving the company a market value of $8.33bn. It is expected to report its first-quarter earnings on 6 May.

Chuck Muth, the company’s chief growth officer, said that improving its meat alternatives helps the company hold onto its market share.

"As one of the first movers in the category, we do have a prominent position," Muth said.

"We’re only going to stay there if we continue to innovate, and we will always stay focused on our innovation and improving our products."