×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: coronavirus | lockdown | 264% | plant | based | meat

Coronavirus Lockdown Spurs 264% Boom in Plant-Based Meat

Coronavirus Lockdown Spurs 264% Boom in Plant-Based Meat

(Michael Vi | Dreamstime.com)

Friday, 15 May 2020 11:04 AM

While there’s been talk of Americans resorting to indulgent foods as they shelter in place, they’ve instead flocked to plant-based meat and cheap pantry staples.

Since the coronavirus pandemic ignited a nationwide lockdown in March, U.S. consumers have doubled purchases of all sorts of beans and canned meat, according to Nielsen data. The biggest surge of any category came in plant-based meat, which includes offerings from companies like Beyond Meat Inc. (BYND) and Impossible Foods Inc., with sales jumping 264%. And these gains came when overall spending plummeted.

Meanwhile, donuts, cupcakes and dessert platters showed the biggest declines during the nine weeks ended May 2.

The boom in faux meat has been aided by shortages of beef and pork. Fast-food chain Wendy’s Co. has been running out of hamburgers at some locations, while Kroger Co. and Costco Wholesale Corp. are limiting customer purchases of some items. To take advantage of this, Impossible is expanding into 1,700 Kroger locations and Beyond plans to offer discounts this summer.

© Copyright 2022 Bloomberg News. All rights reserved.


StreetTalk
Since the coronavirus pandemic ignited a nationwide lockdown in March, U.S. consumers have doubled purchases of all sorts of beans and canned meat, according to Nielsen data.
coronavirus, lockdown, 264%, plant, based, meat
166
2020-04-15
Friday, 15 May 2020 11:04 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved