Key points:
- BYND stock has been struggling, will the partnership with Pepsi give the company some breathing room?
- The partnerhsip's first product, plant-based jerkey, is expected to hit the shelves early this year
Around a year ago now, alternative-meat company Beyond Meat (NASDAQ: BYND) entered a partnership with PepsiCo – named The PLANeT Partnership. The aim of the new partnership was to create a range of plant-based snacks and drinks to facilitate the growing market of meat alternatives.
This isn’t the first prevalent Beyond Meat partnership with an industry leader, the company has launched their products on the menus of fast-food giants McDonald’s and KFC – as well as various products throughout US and Canadian supermarkets.
Although Beyond is still a very fresh face in its industry; it’s been making prominent progress over the last few years – instilling its ideology on a changing consumer demographic. However, the market hasn’t been too kind to Beyond, with bouts of volatility giving way to heavy selling. Beyond stock currently sits just 0.8% above its IPO price back in 2019.
Read Also: Best Stocks To Buy Right Now
The partnership with Pepsi has the potential to give Beyond the boost it needs to welcome buyers back. The company will be able to utilize Pepsi’s market-leading production and marketing expertise for the partnership’s new products; increasing financial stability and commercial exposure simultaneously.
Investors shouldn’t just be focused on Beyond. The partnership allows Pepsi to grow its investment in plant-based categories; giving the market giant a route into an otherwise competitive sector whilst helping the company work towards achieving its sustainability and health goals.
Yesterday marked the day of the partnerships’ first product; a plant-based jerky, expected to launch early this year. Beyond Meat could really benefit from the long-standing expertise of Pepsi, and while this product is expected to struggle with existing competition, the future of meat alternatives is vast. With Pepsi by their side, could this be a turning point for Beyond?