Beyond Meat Stocks Plummet As Tyson & Nestle Roll Out Meat Alternatives

Beyond Meat and Impossible Foods, key innovators in the vegan burger game, are starting to see some competition from heavy hitters Tyson and Nestle. A few years ago, a plant-based patty that looked, smelled and even bled like real meat was hardly a reality. Beyond Meat and Impossible burgers are now found in restaurants, grocery stores and fast food chains. While their popularity grows, however, these smaller companies have struggled to expand along with production demands.

On Thursday morning, after a year of 436% growth, Beyond Meat stocks dropped 7% following Tyson’s announcement to launch a new veggie burger this fall. The first product of Tyson’s new sub-brand, Raised and Rooted, is a fast-food-style nugget made from pea protein, flax seed, egg white and bamboo. Tyson is also teasing a “blended patty” made from a combination of plant-based proteins and actual Angus beef. The combination patty claims to be both healthier and more environmentally friendly than a standard burger.