On Monday, McDonalds officially announced the highly anticipated debut of its crispy chicken sandwich during an investor meeting, while also noting that the company will begin entering the plant-based food sector.
The world’s largest burger chain said that it has begun developing its own unique plant-based burger which will be dubbed the McPlant, following the growing popularity of meat alternatives. Although McDonalds stopped short of fully elaborating on the details surrounding plant-based burger creation, it noted that it will ready for testing across several markets come next year. McDonalds is yet another fast-food franchise that has started investing heavily into plant-based burgers, following in the footsteps of Burger King’s Impossible Whopper and A&W’s Beyond Meat burger.
In fact, just last year McDonalds conducted a project testing a plant-based burger that was called the PLT, which stood for plant, lettuce, and tomato, while featuring a Beyond Meat patty. However, the latest McPlant burger will be unique because it will be “made with a juicy, plant-based patty and served on a warm, sesame seed bun with all the classic toppings,” that will be exclusively made by McDonalds, as noted on the company’s blog post.
Depending on the success of the McPlant burger, McDonald’s international president Ian Borden noted that the company would look into extending its signature meatless patty into a full lineup of plant-based products including chicken substitutes and breakfast sandwiches. The latest crispy chicken and plant-based burger announcement is part of McDonald’s broader strategy called “Accelerating the Arches,” which will see an increased commitment to the company’s core menu items. Since the onset of the pandemic, McDonalds has been able to successfully recoup its losses, with its share price increasing over 11% on a year-over-year basis.
Information for this briefing was found via McDonalds. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.