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McDonald's' meatless McPlant burger selling well in test markets, analysts say

McDonald's' meatless McPlant burger selling well in test markets, analysts say
McDonald's began testing the McPlant burger last November and is scheduled to expand testing to hundreds of locations in the San Francisco and Dallas areas on February 14. File Photo by Stephen Shaver/UPI | License Photo

Jan. 26 (UPI) -- McDonald's' meatless McPlant burger, which is being tested at hundreds of locations in the United States, is selling better than expected, according to industry analysts.

McDonald's began testing the McPlant at a few locations in November and said earlier this month that it would ramp up testing at 600 other locations in California and Texas in February.

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Piper Sandler analysts said that McDonald's has been selling about three times more burgers than originally expected -- about 70 per day at each test location in December.

By comparison, McDonald's sells an average of about 110 Big Macs per day.

Sales could drive Beyond Meat's U.S. revenues as high as $215 million per year, the analysts said.

"While we believe test stores likely received a lift from exclusivity ... initial McPlant sales could prove to be closer to 8% to 10% of burger sales, or $170 million to $215 million," Piper Sandler analyst Michael Lavery said, according to CNBC.

McDonald's is one of a number of fast food chains that have introduced meatless alternatives in recent years. Others include Burger King, KFC, Pizza Hut and Chipotle.

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