Beyond Meat Inc. (BYND.Q) & PepsiCo Inc. (PEP.Q) Showcase Their Meat

Plant-Based Jerky

$3.33B Market Capitalization

Beyond Meat Inc. (BYND.Q) and PepsiCo Inc. (PEP.Q) announced today the debut of Beyond Meat® Jerky, a convenient plant-based jerky. This represents the first product from the two companies’ joint-venture, Planet Partnership LLC. Starting in March, Beyond Meat Jerky will roll out at stores nationwide. For my Canadian readers, if you’re dying to get your hands on some plant-based jerky, you are going to have to make a trip to the United States (US).

“We are thrilled to introduce the first product from Planet Partnership, our joint venture with Beyond Meat and PepsiCo…The nationwide launch of Beyond Meat Jerky will make plant-based meat accessible to millions of households. It tastes great, it’s a good source of protein, and it’s convenient to eat whether you’re on the go, at the office, or out on adventures,” said Dan Moisan, CEO of Planet Partnership.

Planet Partnership

To provide some context, Planet Partnership represents a joint venture between Beyond Meat and PepsiCo to develop, produce and market innovative snack and beverage products made from plant-based protein. The joint venture was announced on January 26, 2021, and leverages Beyond Meat’s leading technology in plant-based protein development and PepsiCo’s world-class marketing and commercial capabilities.

In doing so, both companies are working together to create and scale new snack and beverage options. Through Planet Partnership, PepsiCo intends to expand its existing portfolio of sustainable products, created through tools and techniques such as regenerative agriculture, as well as net-water and carbon-neutral production plants. The company’s current portfolio includes LAY’s oven-baked chips, Sabra Snack Cups, and Alvalle ready-to-drink gazpacho, to name just a few.

Plant-Based Circle Jerky

While the plant-based jerky segment represents a small portion of the plant-based market as a whole, it has experienced some impressive growth. According to SPINS LLC, plant-based jerky sales jumped nearly 60% in 2017, putting the segment at $3.9 million versus 14% growth for meat-based jerky, which was valued at $1.7 billion at the time. With this in mind, companies like Perky Jerky, Pan’s Mushroom Jerky, and Akua, among others, are already taking advantage of this growing segment.

When it comes to jerky, I don’t discriminate. During my university days, jerky was one of the few foods that helped me get through the day without starving to death. Needless to say, whether it’s beef, turkey, or plant-based, jerky will always hold a special place in my stomach. Still, what makes Beyond Meat Jerky so special?

According to Planet Partnership, Beyond Meat Jerky is marinated and slow-roasted in order to simulate the savory flavor profile of traditional beef jerky. Furthermore, Beyond Meat Jerky contains 10 grams of protein per serving, no cholesterol, and is made with simple, plant-based ingredients like peas and mung beans. To top it all off, Beyond Meat Jerky is GMO-free, soy-free, and gluten-free.

To put things into perspective, Jack Link’s, arguably one of the most popular beef-jerky brands, offers its Original Beef Jerky, which contains 10 grams of protein and 25 milligrams of cholesterol. With this in mind, Beyond Meat Jerky offers the same amount of protein per serving, presumably 1 ounce, as Jack Link’s Original Beef Jerky, but without the cholesterol.

As seen above, Beyond Meat Jerky is available in three flavors, namely Original, Hot & Spicy, and Teriyaki. Planet Partnership’s latest product will be available in three different sized packs. It is also worth noting that Beyond Meat Jerky represents the Company’s first shelf-stable product, unlocking new channels of distribution with availability ranging from grocery stores to gas stations.

Beyond Meat’s share price opened at $51.20 today, down from a previous close of $51.26. The Company’s shares are up 2.20% and were trading at $52.39 as of 12:33 PM EST.