Pepsi’s marketing prowess could also get more people to try Beyond Meat’s product.
“Historically, [Beyond’s] marketing spend has been nominal (primarily social media),” UBS research analyst Erika Jackson wrote in a note on Tuesday. Pepsi could help push that marketing to a new level, and bring more customers into the fold.
“Consumer demand for plant-based products is large enough to make an impact in sales, as the plant-based alternative industry continues to grow,” said Ramsey Baghdadi, consumer analyst at data and analytics company GlobalData, in a statement Tuesday. “PepsiCo’s decision to widen its existing selection of plant-based snacks will be a game changer in the long-term, as more consumers naturally gravitate towards the trend.”