Oscar Mayer plans to roll out plant-based hot dogs and sausages this year with the help of a startup backed by Jeff Bezos.
The Kraft Heinz Company’s iconic brand has partnered with The Knot Company, a vegan-focused company whose investors include Amazon’s billionaire founder, to launch Knot Hot Dogs and Knot Hot Dogs. Announcing “Knot Sausage.” According to the company’s announcement.
U.S. consumers can purchase a four-pack of plant-based hot dogs for $5.99 and a four-pack of “NotSausages” for $7.99.
In December 2022, Kraft Heinz and The Not Company jointly launched plant-based Philadelphia Cream Cheese to appeal to consumers who consume less dairy.
The Kraft-NotCo partnership has created plant-based “Kraft NotMac&Cheese,” as well as alternative versions of mayonnaise (“NotMayo”) and cheese slices (“NotCheese Slices”).
Kraft Heinz, headquartered in Chicago and Pittsburgh, expects the plant-based market to soar in popularity.
The conglomerate cited projections that sales of plant-based foods will increase from $8.3 billion in 2023 to $19 billion by 2030.
“We know people are hungry for plant-based meat options from brands they know and trust,” Lucho López-May, CEO of Kraft Heinz Knot Company, said in a statement. Stated.
Judging by recent trends in the plant-based industry, Kraft Heinz is doing plenty to convince consumers to give up meat for good.
Beyond Meat and Impossible Foods have seen their stock prices decline significantly since 2020.
Beyond Meat’s stock hit an all-time high of nearly $235 per share in 2019, but has fallen an astounding 96% since then.
Beyond Meat’s stock was trading at just over $8 a share Wednesday.
The company’s U.S. sales fell 34% in the first nine months of 2023 due to weak consumer demand.
Beyond Meat announced in November that it was cutting 19% of its workforce, cutting some products, such as jerky, and considering scaling back operations in China.
In late February, the El Segundo, Calif.-based company announced it would improve its signature plant-based burgers by switching from canola and coconut oil to avocado oil, reducing saturated fat by 60%.
The new products, Beyond Burger Patty and Beyond Beef Ground, will be available in the U.S. this spring.
Inflation is one reason U.S. buyers have turned to cheaper protein sources in recent years.
But American consumers’ skepticism about the health of plant-based meat, fueled in part by meat industry advertising, has also been a persistent problem.
with post wire
