- Beyond Steak is plant-based food company Beyond Meat's newest product.
- The product arrives in more than 5,000 Kroger and Walmart stores amid a decline in sales of plant-based meat.
Beyond Meat has added a steak substitute to its lineup of plant-based meats.
Beyond Steak will share shelves with the company's plant-based Beyond Burger, Beyond Beef, and Beyond Meatballs. The product is rolling out at more than 5,000 Walmart and Kroger stores, as well as some select Albertsons and Ahold locations.
The company says the $7.99 product is "designed to deliver the juicy, tender and delicious bite of seared steak tips with the added nutritional and environmental benefits of plant-based meat." It says the product is "seared to perfection and chopped into bite-sized pieces," has 21 grams of protein per serving, is low in saturated fat, has 0 milligrams of cholesterol.
"Beyond Steak is a highly-anticipated expansion of our popular beef platform and we're proud to introduce this innovative product to consumers nationwide, Dariush Ajami, Beyond Meat's chief innovation officer, said in a statement "Beyond Steak delivers the taste and texture of sliced steak in a way that is better for both people and the planet."
The product rollout comes amid declining sales of plant-based meats. Retail sales were down 10.5% for the year that ended Sept. 4, Bloomberg reported, citing data from Information Resources Inc.
Beyond Meat recently cut 19% of its workforce, and forecast that its 2022 revenues will drop as much as 14% compared with last year, Insider reported. The company's stock has fallen more than 80% since January.