Nestle Wants In On Plant-Based Burger Market 06/05/2019

Nestle will launch plant-based ‘Awesome Burger’ in US this year

Nestle will launch plant-based ‘Awesome Burger’ in US this year

Anyway, Nestle is getting into the plant-based meat game with the "Awesome Burger", which is set to hit store shelves this fall.

Previous Meat, the plant-essentially based burger maker, has some recent rivals. Unlike the previously launched Sweet Earth veggie burgers, the new Awesome Burger is - like the Impossible Burger before it - meant to closely imitate real beef-based burgers, according to CNBC. Although the Awesome Burger won't be Sweet Earth's first plant-based food, it will be the first time the company attempts to make a product specifically created to mimic real meat.

Shares of Beyond Meat slid as much as 5% on the news.

Plant-based protein is gaining popularity in the USA and overseas, with grocery stores and fast-food chains adding vegan options. The news comes as plant-based protein is gaining popularity in the US. The $US14 billion market could balloon to roughly $US140 billion over the next decade, according to a report by Barclays. The burger is not Nestle's first foray into the plant-based burger world - the company in April launched a soy-and wheat-based burger in Europe under its Garden Gourmet brand. The Awesome Burger is reportedly made from yellow peas and an average patty contains 28 grams of protein versus the 20 grams that would typically be found in a beef burger of equivalent size. In addition to, it be Incredible Burger is on hand at McDonald's in Germany. This makes it more in line with the Beyond Burger, which is also pea-based, rather than the soy-based Impossible Burger. Impossible Burger recently reached a new milestone with a launch at Burger King, which plans to start offering its newly unveiled Impossible Whopper at its store across the United States.

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Previous Meat's inventory may well perchance perchance look a 30% get rid of if it secures a partnership with McDonald's, analysts at Jefferies wrote in a say their private praises.

Previous Meat will tale its first quarterly earnings as a public company after Thursday's closing bell.

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