McDonald's Corp will test a new 'plant, lettuce and tomato' sandw...
) patties in some restaurants in Canada next week, following major rivals’ bets on the growing popularity of plant-based alternative meat.restaurant is seen in Los Angeles, California, U.S. October 24, 2017. REUTERS/Lucy Nicholson
Shares of Beyond Meat, which have roughly tripled in value since the company’s listing on the stock market in May, surged 17% in early trading, while those of McDonald’s were up marginally. Beyond Meat, one of the pioneers of plant-based meat substitutes, is competing fiercely with Silicon Valley-based Impossible Foods for dominance of the plant-based meat market, which Barclays analysts say is expected to explode, growing to an estimated $140 billion over the next 10 years.
“A lot of people have been asking McDonald’s if they are going to do this. I do think to offer the consumer another option is nice, but again, it remains to be seen on what the uptake is,” said Brian Yarbrough, an analyst with Edward Jones.
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