McDonald's to make its 'McPlant' items, Beyond Meat says co-created patty
10 November, 2020
Burger chain McDonald's on Monday (Nov 9) made a decision to debut its own plant-based meat alternatives line called "McPlant" in 2021, including a patty that Beyond Meat subsequently said it helped co-create.
"Beyond Meat and McDonald's co-created the plant-based patty which is available within their McPlant platform," a Beyond Meat spokesperson said within an email.
After McDonald's announced its McPlant line earlier in the day, shares of plant-based meat maker Beyond Meat fell 8 %.
Beyond Meat was leading runner for a contract as it had conducted tests of a so-called "P.L.T." burger at practically 100 McDonald's spots in Ontario, Canada, earlier this season.
McDonald's reported market-beating profit and revenue for the third quarter on Monday.
"Plant-based products are a continuing consumer trend. It isn't a matter of if McDonald's will get into plant-based, it's a matter of when," McDonald's ceo Chris Kempczinski said on a call with analysts.
Analysts, rival fast-food companies and plant-based protein producers have been closely watching McDonald's plans as it is one of the few national chains yet to sell plant-based meat burgers on a permanent basis.
While other chains have started offering plant-based meat options, including Restaurant Brands International's Burger King, White Castle and Dunkin' Brands Group, a McDonald's contract may be the biggest and would put the plant-based meat movement front and centre in mainstream America.
McDonald's said under its McPlant line, it might offer products including burgers, chicken substitutes and breakfast sandwiches, which it expects to check in a few markets in 2021.
Source: www.channelnewsasia.com
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