Kellogg's MorningStar Farms division announced Wednesday the addition of a new line of products: Incogmeato. The new products differ from MorningStar's veggie burgers, as they are fully plant-based and can be found in both the refrigerated or frozen meat sections at grocery stores.
The three items are:
- Refrigerated plant-based burger patties.
- Frozen and fully prepared plant-based chicken tenders.
- Frozen and fully prepared plant-based chicken nuggets.
The addition of Incogmeato is meant to satisfy consumers "choosing a 'flexitarian' lifestyle" by consuming less meat, Sara Young, MorningStar's general manager of plant-based proteins, said in a statement.
Shares of plant-based food maker Beyond Meat Inc (NASDAQ: BYND) moved slightly lower following the press release.
Why It's Important
Around three out of four Americans are open to eating plant-based alternatives, but only one out of four people actually make a purchase, Young said.
The low purchase rate could be a function of bad-tasting products, but Kellogg hopes to stand out by offering the "amazing taste, texture and sizzling qualities of meat" in a product that represents a "better alternative for themselves and the planet."
Kellogg's new food items will be available for purchase in grocery stores in early 2020, the company said.
The stock was down 0.19% at $63.58 at the time of publication Wednesday.
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Photo courtesy of Kellogg.
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