Starbucks Corporation (NASDAQ:SBUX) said Monday it would be adding new plant-based food and beverage options in select Asian markets this month.
What Happened: The Seattle-based coffee chain will add foods sourced from Beyond Meat Inc (NASDAQ:BYND) and Impossible Foods in markets such as Hong Kong, Singapore, New Zealand, Thailand, and Taiwan, the company said in a statement.
“We’re excited to continue our journey toward becoming resource positive together with our customers in Asia,” Starbucks Asia Pacific President Sara Trilling said on the menu expansion.
New food items include a Spiced Impossible Puff and Maize Impossible Sandwich in Hong Kong as well as a Beyond Meatball Sandwich in Taiwan.
Why It Matters: Starbucks is also introducing Oatmilk Cocoa Macchiato from Oatly, a European private plant-based milk company in eight markets on the continent.
This summer, the coffee chain added a breakfast sandwich, which uses ingredients made by Impossible Foods, at 15,000 of its stores in the United States after introducing similar Beyond Meat products in China and Canada.
In July, a judge in Florida ruled that Restaurant Brands International Inc (NYSE:QSR) unit Burger King didn't mislead vegans and vegetarians vegans and vegetarians on the nature of its Impossible Whopper product.
Price Action: Starbucks shares closed 0.24% lower at $86.27 on Friday.
Photo courtesy: Impossible Foods