Tyson is in competition with Beyond Meat, one of the few companies besides Impossible Foods to introduce a plant-based burger

Tyson Foods, world’s second largest marketer and processor of meat, recently announced the launch of Raised and Rooted, its first plant-based protein brand featuring vegetarian nuggets that reportedly taste similar to chicken, along with blended burgers which still have beef but are arguably healthier.

According to reliable sources, Tyson is supposedly in competition with Beyond Meat, one of the few  companies besides Impossible Foods to introduce a plant-based burger, one which tastes just like a beef hamburger.

Apparently, Tyson’s announcement of the launch followed right after Beyond Meat went public in May with a valuation of $1 Billion. The market shares of the company surged since the IPO by 500 percent.

Tyson Foods’ President and CEO, Noel White, stated in a press release that customers are looking for more protein diet, which is why the company is working towards creating new products that meet the needs of the growing population, seeking diets comprised of both plant and meat based protein.

Raised and Rooted nuggets are expected to be launched later in the summer and burgers will be available by this autumn, sources informed.

The largest meat producing company in U.S. confirmed that the primary component of both burgers and nuggets are pea protein. Tyson assured that they will explore categories other than ‘chicken’ burgers and nuggets which is limited to their first product, Raised and Rooted.

Chief Marketing Officer of Tyson Foods, Noelle O’Mara commented that even though Americans prioritize meat as their source of protein, there is a significant growth of interest in blended proteins and plants. The company expects the interest for the product to grow across protein types since this kind of product is appealing to consumers who enjoy multiple protein sources, O’Mara said.

Sources informed that Tyson had sold its 6.5% interest in Beyond Meat in April, which amounts to nearly $79 million worth stake.

Source credit- https://gizmodo.com/tyson-launches-its-first-plant-based-protein-brand-to-c-1835476740