Beyond Meat
- Beyond Meat launched its newest plant-based meat alternative, vegan chicken tenders.
- Farmers are struggling to keep up with demand, sending the US into a chicken shortage.
- Restaurants owners say the price of wings have more than doubled in the past few months.
- See more stories on Insider's business page.
If you've noticed the price of chicken wings going up at your favorite joint, you're right: Prices are high thanks to a national supply shortage.
But for restaurants and diners looking for an alternative to high-priced chicken wings may be in luck.
Beyond Meat on Thursday launched its latest meat alternative, plant-based chicken tenders. The company says the plant-based tenders are made with non-GMO fava beans and peas. They contain 14g of protein, are made with no antibiotics or hormones, and have zero cholesterol.
"We're innovating the poultry market with the new Beyond Chicken Tenders-the result of our tireless pursuit for excellence and growth at Beyond Meat," Dariush Ajami, Beyond's chief innovation officer, said in a press release. "As with all our products, Beyond Chicken Tenders offer delicious taste and an exceptional culinary experience, along with strong nutritional benefits."
The tenders aren't available in stores yet and are only available at 400 various restaurants in the US. The rollout is notably smaller than previous product launches, which have in the past included thousands of Dunkin' locations. As of April, Beyond products were available at roughly 39,000 foodservice locations, the company said.
Chicken prices have been rising for some time. Data from the USDA and JPMorgan show average chicken prices are up about 80% over last year, with tenders going for more than double. Restaurant owners say the price of wings has also doubled.
Chicken farmers have also been having a hard time finding employees amid the national labor struggle to find workers. Having fewer workers makes it all the more difficult for chicken farmers to process chickens and meet customer demands.
Beyond didn't disclose a wholesale price for restaurants to buy the new tenders. However, one Chicago restaurateur told Fortune he plans to sell three tenders for $8.99.