Tyson Foods is going to start making their own alternative plant-based meat in 2019. Let that sink in. It’s news for the ages.
On their quarterly earnings conference call on Thursday, Tyson Foods
announced their earnings fell short of analysts’ expectations. The stock
price closed at $59.29 on Friday, the same level as two years ago.
Bloomberg explained factors contributing to Tyson’s earnings miss: “Changing
consumer tastes and lifestyles mean Americans want food that’s perceived as
healthier, easier to cook and increasingly, they want protein that comes
from plants.”
Then I read this surreal announcement on Tyson’s homepage and nearly
fainted. Tyson Foods CEO Noel White announced that Tyson Foods is going to
start making their own alternative plant-based meat in 2019. Let that sink
in. It’s news for the ages.
Tyson has the R & D team, advertising budget, shelf space, and loyal
customer base to attract millions of people who eat animals to try
plant-based alternatives. The formula has worked with Ben & Jerry and Haagen
Dazs dairy-free ice cream and should prove even more successful in the
massive animal meat market. Meat-eaters are more likely to try plant-based
chicken made by Tyson because they know and trust the name.
Tyson continues to make strides toward diversifying their portfolio. Their
investments in Beyond Meat and Memphis Meats likely had a positive influence
on them and helped them gain familiarity with more sustainable,
compassionate, and healthy protein options. Their expanding interest in the
plant-based meat market serves as a powerful reminder of why it’s so
important to engage with the industry. Everyone who cares about farm
animals, the planet, and people’s health should be excited about Tyson’s
upcoming launch.
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