“It is a product that’s resonating with shoppers”
In keeping with Past Meat, its steak ranks because the top-selling new plant-based meat in retail and just lately launched at grocery chains equivalent to Entire Meals Market, Publix, Wegmans, Meijer and Stater Bros. Markets.
The corporate additionally reveals current information confirmed that 2 out of three households that attempted Past Steak repurchased the product, which helps different constructive suggestions the product has obtained since its US launch final 12 months.
In June, Past Steak was named “Finest Plant-Based mostly Beef” by PEOPLE Meals Awards 2023 for having “the feel, chew and taste” of actual steak. The product additionally obtained a FABI (Meals and Beverage Innovation) Award from the Nationwide Restaurant Affiliation for “breaking new floor in creativity and style”.
Good for well being
Along with awards, Past Steak has earned a prestigious well being certification. In Might, the product was licensed “Coronary heart Wholesome” by the American Coronary heart Affiliation, which acknowledges merchandise which can be low in saturated and trans fat, ldl cholesterol and sodium.
In doing so, Past Steak turned the primary plant-based meat and first steak product to be licensed by this system.
Final week, Chiron Capital Administration reportedly bought 10,953 shares of Past Meat at an estimated worth of $178,000 in Q1 of 2023, indicating that the agency is assured within the longer-term success of Past Meat and the plant-based meat market.
“Leaning into this power”
“We’re happy by all of the momentum round Past Steak because it validates the product’s scrumptious style and compelling dietary advantages,” stated AK Oghoghomeh, SVP of World Advertising at Past Meat. “Latest information from a regional chain confirmed that greater than 50% of households that purchased Past Steak have been new to the plant-based meat class and a couple of out of three households repurchased Past Steak, reinforcing that it is a product that’s resonating with shoppers.”
He provides, “As an innovation-based firm, we’re leaning into this power as we search to bolster our place in retail and are excited to be saying an extension to our burger platform quickly.”