2023-06-07 11:24:33 ET
Taco Bell ( NYSE: YUM ) announced on Wednesday that it will sell a vegan version of the Crunchwrap menu item with plant-based beef and cheese in three cities in the U.S. The high percentage of vegan orders in Los Angeles, New York, and Orlando led the chain to pick those cities for the limited-time test.
While Taco Bell has tested Carne Asada products from Beyond Meat ( BYND ) in the past, the plant-based food maker was not mentioned in the press release . Taco Bell said the Vegan Crunchwrap features vegan seasoned beef, which is a "proprietary, boldly seasoned" plant-based protein that has been in the works for years In addition to plant-based beef and cheese, the Vegan Crunchwrap will include classic ingredients like shredded lettuce, diced tomatoes and a crunchy tostada shell.
Taco Bell said its vegetarian options appeal to a broad consumer base. Notably vegetarian options made up over 23% of products sold in 2022. Overall, the chain has over 30 vegetarian ingredients that work out to more than one million different combinations.
"Taco Bell’s tests are an efficient way for the company to check on how consumers respond to a product before potentially rolling it out on a larger scale. We conduct tests to determine things like pricing and build, to check incrementality, to understand operational impact, and to make assessments for future offers and rollouts," stated Missy Schaaphok, Taco Bell’s Director of Global Nutrition & Sustainability.
Taco Bell is owned by Yum! Brands ( YUM ). Shares of Yum Brands were down 0.90% in morning trading to $131.66.
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Taco Bell is testing consumer reaction to a vegan Crunchwrap amid rising demand