Tyson Foods, one of the biggest US-based meat producers, shocked the entire world today by launching plant-based veg food products, touted as an alternative to meat food. While most of the US population is divided on the issue of meat consumption, many companies are branching out. Since the departure of Tyson Foods company from Beyond Food, there has been a massive competition going on.
The food giants don’t want to leave a single opportunity to stay on top. Here are the details about the new meat-alternative veg nuggets from Tyson Foods, and how it would affect the company and market.
New Plant-based Nuggets as an alternative to Meat-based nuggets
The latest venture from Tyson Foods was teased by the company since the beginning of this year. There were reports about research in the field of meat alternative foods and products. As of today, Thursday, June 13, R Nuggets has been launched by the company on a grand scale.
The new recipe of the nuggets uses pea-proteins instead of chicken elements. Also, there is a mixture of Egg whites, golden flaxseeds, and bamboo to make it tastier. Tyson Foods claims that the new nuggets have 33% less fat and are soy-free.
Beyond Meat takes a massive hit after R Nuggets announcement
As soon as Tyson Foods announced the new product, their stock value rose by 3%. It also made its competitors crash, which includes Beyond Meats, whose stock price fell down by a huge 5%. With the passing time, more and more of the US population is avoiding to eat meat. It has made the veg food market an enormous field, and experts say that the valuation goes over a billion dollars.
Springdale and Perdue foods have also followed in similar footsteps and announced their own new veg products. Tyson Foods is taking the competition further, with investments in a new mushroom-based food company.