PepsiCo is planning to launch new plant-based snacks and drinks produced by its joint venture with Beyond Meat by early 2022. Pepsi CEO Ramon Laguarta told CNBC’s Sara Eisen said that this is only the beginning of what they think is going to be a game-changing JV.
Both the companies named their joint venture as The PLANeT Partnership, in January. This partnership gives Beyond Meat, a newcomer to the food world, a chance to leverage Pepsi’s production and marketing expertise for new products.
The food and beverage giant’s goals include cutting its plastic use, stimulating plans to lessen sodium and added sugars in its products and spreading regenerative agricultural practices. The company said it is including different ingredients like chickpeas, plant-based proteins and whole grains.According to a Greenpeace report, Coca-Cola generates over 100 billion bottles of single-use plastic annually, while PepsiCo uses 2.3 million metric tonnes of plastic over the same period. Pepsi’s rival Coca- Cola is also moving toward replacing plastic bottles.