Oscar Mayer is going vegan, even though the fad appears to be fading.
For the first time ever, the Kraft Heinz-owned brand is going plant-based with two new versions of its hot dog and sausage. It says the new versions offer a “smoky, savory taste and thick, juicy bite” that mirrors its regular versions. The products, called Oscar Mayer “NotHotDogs” ($5.99) and “NotSausage” ($7.99), will roll out nationwide later this year.
It’s a continuation of its partnership with the plant-based foods company NotCo. to expand Kraft’s plant-based portfolio in response to the growing hunger among American consumers for “better-for-you” products. In the past year, the company rolled out a vegan boxed Mac & Cheese, mayonnaise and vegan cheese slices.
The brand is doubling down on a segment that isn’t as popular as plant-based dairy: Plant-based meat sales fell 9% in 2023 to nearly $886 million, according to figures provided to CNN by research firm NIQ.
Sinking sales have sparked troubles for pioneers like Beyond Meat (BYND), which also has sausage products. The once-trendy plant-based meat company has faced falling demand and ballooning costs in recent years.
Beyond Meat last week said it was going to cut costs and transition to a “leaner operating structure” during its earnings report, however, it didn’t specify whether that might include additional layoffs following a 19% workforce cut late last year.
