CHICAGO — Fast-food behemoth McDonald’s will be sinking its teeth into a new market come 2021 — the meatless market, that is.
In a virtual meeting for investors Monday, McDonald’s executives said the company is developing its very own plant-based burger, the McPlant, which it will begin testing in select markets next year.
"McPlant is crafted exclusively for McDonald's, by McDonald's," president of the company's international business Ian Borden reportedly said on Monday’s call, per USA Today. "We have created a delicious burger that will be the first menu option in a plant-based platform.”
McDonald’s meatless McPlant offerings may be expanded in the future to include “chicken” sandwiches and breakfast items, Borden added.
Shares of plant-based burger maker Beyond Meat plummeted 8% on that news. McDonald’s tested Beyond Meat patties at Canadian restaurants earlier this year, but ended the trial in April.
In a statement on the company’s blog shared Monday, McDonald’s executives said they had learned from the international partnership in Canada and are excited to expand their menu while still incorporating the flavors their customers know and love.
“McDonald’s classics are the core of our business, but we know customers are looking for exciting new tastes, too,” the statement read in part. “Last year, with those customers in mind, we tested our first plant-based burger in select restaurants in Canada. Based on what we learned and an encouraging response, we’re excited to give you a sneak preview of the McPlant – a delicious plant-based burger crafted for McDonald’s, by McDonald’s, and with the kind of craveable McDonald’s flavor our customers love.”
"There are other plant-based burgers out there, but the McPlant delivers our iconic taste in a sink-your-teeth-in (and wipe-your-mouth) kind of sandwich," the statement continued, alongside a video touting McDonald's "Accelerating the Arches" business model. "It’s made with a juicy, plant-based patty and served on a warm, sesame seed bun with all the classic toppings."
The statement said that markets will be able to incorporate the McPlant onto their menus "when they’re ready," adding "we expect some to test the burger next year."
McDonald’s foray into meat alternatives is only one of several menu-expanding options the company has toyed with in an effort to boost sales dampened by the coronavirus pandemic.
One such item was a meal promotion with rapper Travis Scott, which was introduced in September. The partnership was the first time McDonald’s featured a celebrity’s name on its menu since a Michael Jordan-branded meal deal in 1992. For $6, customers could order Scott’s favorite meal: a Quarter Pounder, fries and a Sprite. Scott’s Cactus Jack brand also designed clothes for McDonald’s employees.
Last month, McDonald’s introduced a limited-time meal collaboration with Colombian singer J Balvin.
McDonald’s also got a lift from the September introduction of spicy McNuggets. It was the first time the company had introduced a new style since McNuggets debuted in 1983.
In December, McDonald’s plans to bring back the McRib sandwich for a limited time. It’s the first time in eight years that the McRib will be on U.S. menus.
With new menu choices and celebrity-focused meal deals, U.S. McDonald’s locations exceeded most projections for the third quarter.
It wasn’t the same story outside of the U.S., where sales between July and September failed to match last year’s levels, and McDonald’s warned that a resurgence of coronavirus cases in key markets like France, Germany and the United Kingdom could force dining room closures and other restrictions.
“We’re pleased with our recovery to date, but we also understand there inevitably will be more starts and stops with the virus resurgences,” McDonald’s Chief Financial Officer Kevin Ozan said on Monday’s conference call.
The Associated Press contributed to this report.