(Reuters) – Kroger Co (N:) on Thursday said it would launch its own line of meatless burger patties, as the supermarket chain tries to cater to a growing appetite for plant-based meat alternatives, made popular by Beyond Meat (O:).

The supermarket chain, which was one of the first retailers to sell Beyond Meat’s plant-based burgers, will sell the products under its “Simple Truth” brand and include deli meats, sour cream and queso.

Companies including Tyson Foods Inc (N:) and Perdue Foods are also rolling out products made of plant-based meat as vegan diets gain popularity.

Piper Jaffray analysts estimate sales of plant-based meat could account for about 7% to 8% of the $80 billion meat industry, with much of it coming from new, refrigerated products with a look and feel more similar to grass-fed meat.

Kroger’s shares were up about 2% in afternoon trading.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

2019-09-05