Beyond Meat is launching meat-free meatballs in grocery stores

Key Points

• Beyond Meat is launching its meatless meatballs in grocery stores nationwide this week.
• Demand for refrigerated plant-based meatballs has surged 145% in the 52 weeks ended Aug. 9, according to the latest IRI data.
• Beyond's meatballs are made with pea protein and brown rice.

Beyond Meat is bringing its meatless meatballs to grocery stores nationwide.

The company first made meatballs through a partnership with Subway last year, but grocery stores have also been asking for the item, according to a company spokesperson. Demand for refrigerated plant-based meatballs has surged 145% in the 52 weeks ended Aug. 9, according to the latest IRI data. Competitors like Gardein and Kellogg's Morningstar Farms already sell the meat-free meatballs. 

Starting this week, consumers will be able to buy Beyond Meatballs made with pea protein, brown rice and Italian seasoning. The suggested retail price is $6.99 for a 12 pack.

This marks Beyond's third new grocery product in the U.S. this year. The company has already released Beyond Breakfast Sausage and a value pack of its beef-free burgers in 2020. Grocery typically accounts for about half of its revenue, although the pandemic has shifted sales in its favor. 

Shares of Beyond, which has a market value of $8.42 billion, have risen 78% this year as of Friday's close.