The biggest U.S. meat company wants a cut of the meat-replacement business as well.
Tyson food scientist Micki Gooch works on new products at the company's headquarters in Springdale, Ark. Photo: Brett Deering for The Wall Street Journal By Jacob Bunge June 13, 2019 6:47 a.m. ET
Beyond Meat’s shares have soared to more than five times their value when the company made its initial public offering early last month. Tyson previously held a stake in Beyond Meat and sold its shares before the IPO. Impossible Foods in May raised $300 million in new funding. Analysts project that the market for meat alternatives could grow to tens of billions of dollars in annual sales, a substantial chunk of the $200 billion U.S. meat industry.
Other food companies including Nestlé SA, Unilever PLC and Brazilian meatpacking conglomerate JBS SA also aim to use their test kitchens and distribution networks to make meat imitations. Those efforts will hasten meat alternatives’ move into the mainstream, said Bruce Friedrich, executive director of the Good Food Institute, a Washington-based group that promotes plant versions of meat and dairy products.
Read More Tyson’s new nuggets are constructed from pea protein isolate, bamboo fiber and other plant ingredients. They have less saturated fat than traditional chicken nuggets, though their taste and texture are much the same, Mr. White said.
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