Beyond Meat, a pioneer in the plant-based meat space, is changing its name to Beyond The Plant Protein Co.
A spokesperson said the new name “better reflects” the company’s expanding portfolio, which recently added a sparkling protein drink line called Beyond Immerse.
According to the Associated Press, Beyond plans to release a protein bar this summer, in addition to its recently launched beverages featuring plant protein, fiber, antioxidants, and electrolytes.
Company Expansion
The spokesperson said the new products provide Beyond with “room to grow beyond [the] center of the plate protein and meet a broader range of consumer protein needs over time.”
Beyond recently launched Beyond Ground, which has 27 grams of protein and is made with four ingredients — water, faba bean protein, potato protein, and psyllium husk.
Financial Performance
In Beyond’s most recent earnings report, net revenue for the third quarter declined to $70.2 million, down 13.3% from the same period a year ago, as reported by investors.beyondmeat.com.
The company’s retail business was hit even harder, with net revenue down 18.4%, according to fooddive.com.
