Beyond Meat, a plant-based meat company, has announced plans to launch a new mycelium-based whole-muscle steak alternative. The company will partner with a health-focused restaurant chain to roll out this product.

The new steak product mimics the texture of a filet using mycelium, the rootlike part of fungi. It is designed to be a protein source for salads and burritos, focusing on high protein content, low saturated fat, and few ingredients.

Analyst QuickTake: This product launch aligns with Beyond Meat's efforts to improve taste, nutrition, and ingredient transparency in response to consumer demands for clean-label options. The company recently introduced its Beyond IV platform, featuring products with cleaner ingredients, improved nutritional profiles, and better cooking features, which have reportedly been well-received by consumers, media, and nutritionists.