Dunkin’ is adding Beyond Meat to its menu, as the plant-based meat trend keeps on gather steam.
The coffee chain is offering a breakfast sandwich made with Beyond Sausage, beginning with areas in Manhattan. The organization intends to reveal the menu option across the country later on.
Shares of Beyond hopped 4% in premarket trading Wednesday, while Dunkin’s stock rose 1.5%.
Dunkin’ is the first U.S. restaurant chain to add Beyond Sausage to its menu. Canadian coffee chain Tim Hortons, which is possessed by Restaurant Brands International, recently taken off breakfast sandwiches made with the plant-based meat substitute. It additionally included its first burger — the Beyond Burger — to its menu.
Consumer demand for more vegan and vegetarian options has been driving restaurants to include items from Beyond and its competitor Impossible Foods, albeit a few, for example, McDonald’s and Chick-fil-An, are sitting out for now.
The NPD Group found that 18% of Americans are attempting to diminish their meat intake. The U.S. market for meat substitutes came to $1.44 billion in 2018, as indicated by Euromonitor information. Beyond’s market share is only about 2%.
Since its initial public offering in May, Beyond Meat’s stock has surged almost 700%, as investors attempt to get in on the vegan meat fever. In front of its earnings report on Monday, the stock outperformed $200 per share and hit an all-time high of $208.48 on Tuesday. The stock currently has a market cap of $11.8 billion.
Dunkin’s stock has risen about 25% since the beginning of the year, bringing its market value to $6.6 billion. The organization rebranded a year ago, dropping the word “Donuts” from its name, and has put an attention on coffee drinks and a streamlined menu.