Blue Apron to add Beyond Meat’s plant-based products to its meal kits
By Akshay Kedari  Date: 2019-07-18

Blue Apron to add Beyond Meat’s plant-based products to its meal kits

The company has opted for partnerships owing to its struggling position and inability to find a loyal subscriber base

Blue Apron, an American company that provides meal kit services, recently announced that it will be adding products from Beyond Meat, a company that produces plant-based substitutes for meat, to its menu in an attempt to attract customers to order meals from them.

The market shares of Blue Apron soared after the announcement. Reportedly, the market value for Blue Apron amounts to $153.4 million and its stock soared to 53% during the afternoon trading. Blue Apron had to keep its stock price over $1 and save itself from being delisted from the New York Stock Exchange, for which it finished a reverse stock split last month. The stocks of Beyond meat have shot up 582% since the initial offering in May and were up by 2% in afternoon trading.

Citing reports, Blue Apron has not been getting a loyal subscriber base which has made it turn to partnerships with grocery stores and WW (also formally called Weight Watchers), in order to revive its business. With the addition of Beyond Meat products, it will be joining restaurant chains like T.G.I. Friday’s and Carl’s Jr.

While its partnership with WW has appealed dieters seeking healthier ways of eating, nutritionists have given a mixed review for the plant-based burgers.

According to reliable sources, it is anticipated that flexitarians will help drive global meat substitute market to $18.7 billion in sales by the year 2023. Beyond Meat makes meatless imitations of sausage, ground beef and other products related to meat and design them for people seeking to reduce their meat intake.

Chief Executive at Blue Apron, Linda Kozlowski stated that the company is aware of the increasing number of consumers interested in plat-based proteins, even if it comes in the form of an alternate meat choice, an opportunity to make sustainable choices of food or explore new ingredients.

Source credit- https://www.cnbc.com/2019/07/16/blue-apron-adds-beyond-meat-to-meal-kits-in-a-bid-to-revive-meal-kit-orders.html

 

About Author

Akshay Kedari    

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More

More News By Akshay Kedari

Fibonacci Brands acquires Darwin from Harvest Health & Recreation
Fibonacci Brands acquires Darwin from Harvest Health & Recreation
By Akshay Kedari

Fibonacci Brands has recently announced the acquisition of Darwin from Harvest Health & Recreation (HARV.CN) as its foundation brand. Fibonacci is a leading player in the international cannabis industry. According to James George, founder of Fib...

GVN adds EVIT Center and Chumakov as its new Centers of Excellence
GVN adds EVIT Center and Chumakov as its new Centers of Excellence
By Akshay Kedari

The Global Virus Network (GVN), an international coalition of medical virologists, has recently announced the addition of Australian and Russian researchers. GVN is adding the Center for EVIT (Emerging Viruses, Inflammation & Therapeutics) of th...

Wind Point Partners takes over RTIC to expand business portfolio
Wind Point Partners takes over RTIC to expand business portfolio
By Akshay Kedari

American private equity firm, Wind Point Partners has recently signed an acquisition deal with the one of the biggest direct-to-consumer (D2C) eCommerce providers of drinkware, RTIC. Reportedly, RTIC is Wind Point’s third acquisition of a famil...

Novartis reveals positive data from Phase III ORION trials of inclisiran
Novartis reveals positive data from Phase III ORION trials of inclisiran
By Akshay Kedari

Swiss multinational pharmaceutical firm, Novartis has recently announced results from its Phase III ORION-10 and -11 studies that focus on assessing the individual responses of patients on lowering low-density lipoprotein cholesterol (LDL-C) with inc...

Medtronic to acquire Companion Medical to expand diabetes business
Medtronic to acquire Companion Medical to expand diabetes business
By Akshay Kedari

Medtronic plc, the global leader in medical technologies, has reportedly announced that it is planning to acquire insulin pen manufacturer Companion Medical. The acquisition gives Medtronic access to Companion Medical’s ‘InPen’, wh...