Tyson Foods Unveils Herbal Nuggets Becoming Meat Replacements

The country's largest meat producer is considering entry into herbal meat substitutes.

Tyson Foods announced Thursday that it would launch this summer herbal nuggets under a new brand, Raised & Rooted, which will sell herbal meat products and blends. .

Tyson executives have teased the company's move to meat alternatives since February, but this is the first time the meat packer has revealed its intention to compete with bands such as Impossible Foods and Beyond Meat.

Shares of Beyond Meat fell 4% in pre-trade trading Thursday after the announcement, while Tyson shares rose 3%. The plant-based meat manufacturer has a market value of $ 8.5 billion, about one-third of the market value of Tyson.

"We remain firmly committed to our growing traditional meat sector and hope to be one of the leaders in the alternative protein market, which is experiencing double-digit growth and which could one day represent a billion dollars for our company, "said Tyson's president, Noel White statement.

The flexitarist regime is driving the growth of the meat substitute market, which according to Euromonitor will reach $ 22.9 billion worldwide by 2023. According to Mintel, nearly 60% of US consumers want to consume less meat.

Beyond Meat, a former Tyson investment, previously sold herbal chicken strips, but the company removed the product from grocery freezers earlier this year.

Tyson's imitation nuggets use pea protein instead of chicken. The company also plans to launch a mixed burger based on beef protein and pea Angus under the new brand.

The company based in Springdale, Arkansas, has announced plans to introduce more alternative protein products into its brand portfolio and restaurant service operators. The company's brand Aidells already sells sausages and meatballs blending chicken with herbal ingredients.

Lost Foods, another major meat producer, announced Wednesday the distribution of new nuggets, offers and chicken patties mixing meat and vegetables.

In addition to the new brand, Tyson has invested in start-ups specializing in alternative proteins. The company's venture capital fund has invested in MycoTechnology protein producers, mushroom producers, and cultured meat producers, Memphis Meats and Future Meat Technologies.