With the market for vegan foods and drinks showing no sign of slowing down, food chains are trying to offer customers ever more and better options.
One week after coffee-bar giant Starbucks (SBUX) added another oatmilk-based shaken espresso to its menu, competitor Peet's Coffee unveiled a full-on spring menu of vegan and dairy-free items.
What Is The Everything Plant-Based Sandwich (And The Rest Of Peet's Vegan Spring Menu)?
Along with four oat-based lattes with hazelnut, almond and vanilla flavors, the menu features a Mediterranean flatbread with vegan smoked provolone cheese and pesto, kale, tomatoes and bell peppers.
The vegan breakfast sandwich made from Beyond Breakfast Sausage, JUST Egg and vegan cheddar cheese, the Everything Plant-Based Sandwich will become a mainstay at Peet's locations as the chain's go-to vegan sandwich.
"Plant-based foods are not alternatives or substitutes at Peet's Coffee," Lori Fulmer, a senior manager at Food R&D for Peet's Coffee, said in a statement. "At a time when most consumers are lucky to find one plant-based option in restaurants, Peet's is taking our commitment to the next level with a menu that highlights high quality vegan ingredients that taste delicious and have great flavor."
The meat, cheese and milk alternatives used in the menu items come from Beyond Meat (BYND), JUST Egg and Violife.
Image source: Peet's
Don't Expect The Vegan Wars To Slow Down
Vegan menus are, above all, a response to changing consumer desires — the alternative milk market is, according to a report from Fior Markets, projected to grow from $9.79 billion to $47.95 billion at a CAGR of 11.7%.
While the alternative meat industry is seeing a similar boost in demand, Beyond Meat shares are down 67.89% year-over-year as more and more competitors hit the market.
"Over the last 12 months, the number of plant-based meat, cheese and dairy products available to consumers in the marketplace has more than doubled," Fulmer said.
Even though Starbucks launched a breakfast sandwich with an Impossible plant-based sausage, Peet's takes the plant-based craze to a new level with some fully vegan items.
The Starbucks sandwich features regular cheddar cheese and eggs.
Offering plant-based menu items has, now, become a way for fast food chains and restaurants to not only tap into a growing market but also get one over on competitors by offering different options. After years of promises for a plant-based sandwich, McDonald's (MCD) is now testing the McPlant in select markets even as Restaurant Brands International (QSR)-owned Burger King has had several plant-based options for years.
