Taco Bell Is Launching A Plant-Based Carne Asada Test With Beyond Meat

Taco Bell and Beyond Meat today announced they will test a new Beyond Carne Asada Steak offering in the Dayton, Ohio, market beginning Oct. 13 for a limited time.

This marks the first market test for the Taco Bell/Beyond Meat partnership, initiated in February 2021 when Taco Bell parent company Yum! Brands signed a three-year deal with the plant-based company to co-create menu items. It comes less than a year after rumors swirled about the supplier’s initial carne asada test being sent back to the drawing board.

Notably, Taco Bell’s sister brands KFC and Pizza Hut have already tested or launched Beyond offerings, including the buzz-generating Beyond Fried Chicken.

For Taco Bell, the Beyond Carne Asada Steak features ingredients such as faba beans and the brand’s signature spices. The quesadilla is priced at parity with the chain’s traditional steak option, and can be swapped out for any menu item with no added cost.

In a recent interview, Chief Innovation Officer Liza Matthews said achieving that price parity was a critical piece to move plant-based products into market test to ensure accessibility. Historically, such products have been priced nearly 40% higher than animal-based meat.

“At Taco Bell, we’ve long believed that anyone should be able to choose plant-based menu items without compromising the flavors they crave,” Matthews said in a statement. “That’s why we at Taco Bell are thrilled to reveal the result of our long-standing partnership with Beyond Meat, which is previously unseen in the QSR industry. This plant-based carne asada steak is just the latest move in our history of crafting some of the most unique, craveworthy offerings for all fans.”

If the test goes well, it could provide a much-needed tailwind for Beyond Meat, which has seen its stock drop about 75% year-to-date, hitting an all-time low this week. The company is facing increasing competition in the plant-based category, relentless inflationary pressures, and its McPlant product, created in collaboration with McDonald’s, was pulled from menus earlier this summer, with analysts suggesting the sales performance was underwhelming.

Beyond will likely prove to be a much better fit at Taco Bell, a longtime leader in the vegetarian category. The brand launched a dedicated vegetarian menu in 2019 and, in 2015, became the first quick-service chain to be certified by the American Vegetarian Association. Vegetarian options now represent over 12% of all sales, indicating a favorable position for the brand as the global plant-based market is expected to expand by more than 20% per year through 2028, according to a December report from ResearchandMarkets.com.

The carne asada platform may also prove to be quite popular for vegetarians and flexitarians alike who want to stick with a plant-based option while consuming a wildly popular Mexican dish. This popularity is evidenced by rival Chipotle’s success with the (animal protein) offering. Chipotle attributed an 11% same-store sales increase in 2019 to its carne asada introduction.

“We know that customers are looking for diverse protein options that are better for the planet without compromising on taste, so we’re incredibly excited to launch our brand-new, innovative Beyond Carne Asada Steak. Designed to specifically complement the bold, savory flavors that Taco Bell is known for, Beyond Carne Asada Steak delivers the flavorful, delicious taste and texture of marinated, grilled steak with the added benefits of plant-based meat,” Dariush Ajami, Beyond’s chief innovation officer, said in a statement.

Notably, the Beyond announcement comes about a month after Taco Bell launched a proprietary plant-based Crispy Melt Taco product in the Birmingham, Alabama.

“We always start with our consumer and the topic that comes up with plant-based or vegetarian is choice,” Matthews recently said. “Consumers are genuinely interested in this and with so many vegetarian options already, it naturally made it easier to move into this space.”