A Biblical saying cautions that, “Man cannot live by bread alone.” And alt-meat pioneer Beyond has learned it can’t live by plant-based meat substitutes alone. Beyond Foods is branching out into protein drinks as part of its corporate turnaround program…
The State of the Concept…
Beyond Meat used to be a highly-focused pioneer in the alt-meat sector, selling plant-based met substitutes into what it thought was a soon-to-explode market. But after an auspicious start, the company has recently come on hard times. Sales have plummeted and interest in alt-meats has tanked. For now, at least…
Expanded scope – expanded name
As part of its aggressive come-back plan, Beyond recently changed its name to Beyond The Plant Protein Company, suggesting a move into other product streams.
Beyond CEO Ethan Brown goes as far as to claim the company has actually been ‘a beverage com-pany in hiding’ all along, with a board of directors including former Coke CFO Kathy Waller, Honest Tea founder Seth Goldman, and Boston Beer founder and CEO Jim Koch.
“Consumer skepticism around plant-based meat never truly faded, and Brown said that Beyond has innovated with plant-based protein ‘under more scrutiny than any other company ever’,” Food Dive reports. “The company is looking to move out of what Brown called a ‘cloud of misinformation’ that he claims impeded its growth.”
Inaugural step…
It’s first such venture has been a line of ‘functional’ protein-enhanced beverages called Beyond Immerse. The bubbly bevs also contain added fibre, antioxidants and electrolytes.
Current flavours include cherry berry, strawberry lemonade, piña colada and cucumber grapefruit. Each is offered at protein levels of 10 or 20 grams per serving.
Meanwhile…
Beyond is not abandoning its struggling alt-meat side, which Brown still refers to as the company’s ‘core’ business. In fact, he says the move into functional beverages will help promote the Beyond name.
“I believe that introducing consumers to our brand and our foundational commitment to great taste, clean ingredients, and plant-based nutrition in less controversial applications, we will bring back many to the centre of [our] plate,” Brown says.
My take
Beyond’s decision to dive into the functional beverage sector makes sense from several angles. It’s true that several of its Board members have special expertise in the ‘new beverage’ market. And the segue to protein drinks seems a natural fit for a company that’s been centred on plant protein pro-ducts since the beginning.
But it sounds to me as though Beyond is using the Immerse venture to buy time so it can survive until our inevitable switch to a plant based diet catches up to its original plant-based meat subs-titutes…
~ Maggie J.