Americans are eating less meat during coronavirus outbreak

FOX Business’ Kristina Partsinevelos reports on why meat consumption is declining.

The alternative meat market continues to sizzle as consumers crave plant-based food options.

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Beyond Meat on Thursday launched a direct-to-consumer e-commerce platform, shop.beyondmeat.com, on the heels of rival Impossible Foods debuting its own online retail site in an ever-growing competition for the $13.7 billion plant-based meat market.

Beyond Meat is launching a direct-to-consumer e-commerce platform (Beyond Meat). 

BEYOND MEAT OF SUSHI HOOKS ONTO $13.7 BILLION INDUSTRY 

Beyond Meat’s online shop features products ranging from $49.99 for a trial pack of Beyond burgers, brats and sausages, and $71.99 for six 1-pound packages of its faux meat. Items will be available for two-day shipping, the company said.

The Los Angeles-based company's products are already available in 26,000 retail outlets across the U.S., including Kroger, Walmart and Target. And perhaps spurred by meat shortages earlier this year as a result of the coronavirus pandemic, the company reported a 141% jump in quarterly revenues in May as more Americans cooked at home.

IMPOSSIBLE FOODS LANDS $200 MILLION IN ADDITIONAL FUNDING 

Beyond Meat’s e-commerce launch comes on the heels of plant-based meat startup Impossible Foods securing $200 million in funding earlier this month to expand its retail footprint. Impossible Foods has raised a total of nearly $1.5 billion since its inception in 2011, and its plant-based meat products are available in more than 9,000 retail stores.

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More meat eaters also appear to be turning over a new leaf when it comes to diversifying their protein intake. Plant-based meat sales surged 23% when sold in the meat department, according to a study released last month by the Plant-Based Foods Association in partnership with Kroger.

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