Campbell Soup Company (NYCE: CPB) will launch a "plant-based cooking platform" that will offer plant-based products for cooking purposes, according to CNBC.
Campbell Soup is looking to reinvent its soup business, CNBC said.
Tyson Foods, Inc (NYSE: TSN) announced Thursday it is jumping on the meat-free bandwagon with the launch of its first plant-based blended products. This is a big move for Tyson Foods, which is the largest U.S. meat producer to enter the growing alternative protein segment with its own products.
Both Campbell Soup and Tyson Foods are competing with Beyond Meat Inc (NASDAQ: BYND), which continues to make new highs since its May 2 market debut. The stock is up 500% from its IPO price of $25 per share.
Beyond Meat shares were up 7.93% at the time of publication Friday, while Campbell Soup shares were down 0.91%.
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