Corporate News Blog - McDonald's Tests McVegan, A Vegan Hamburger in Finland

Research Desk Line-up: Yum China Post Earnings Coverage

LONDON, UK / ACCESSWIRE / October 10, 2017 / Pro-Trader Daily looks at the latest corporate events and news making the headlines for McDonald's Corp. (NYSE: MCD), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=MCD. The Fast Food Chain Company is testing a new meat free burger - McVegan, a vegan hamburger in Finland. The Company is testing the McVegan exclusively at its restaurant in Tampere, Finland for a very limited time. The McVegan will be available in Tampere restaurant only between October 04, 2017, and November 21, 2017. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Although the Company has launched the McVegan in Finland, it does not have any plans at present to introduce the product in the US. However, the results from the test run will help the Company in deciding if it wants to add McVegan to its menu across its restaurants globally.

While sharing his views on the matter with Veggie Athletic, Christoffer Rönnblad, Marketing Director of McDonald's Finnish branch said:

"At least the feedback that we have quickly received, and what reception has been online yesterday and already the other day, it has been quite positive. We are going to be positive in this test."

He also shared that the fries served at all Finnish McDonald's are also 100% vegan.

The McVegan has already started on a positive note as many customers who have tried it have liked its taste and given an encouraging feedback.

What is a Vegan Diet?

A vegan diet is one that consists of only plant-derived foods. It does not contain any meat, seafood, and dairy products including foods produced using animals like honey, etc. The diet also excludes wines, beer, and cider that are filtered using animal products.

People are moving towards veganism for the perceived health benefits which include the reduced risk of developing heart disease, cancer, diabetes, or high blood pressure compared to those who follow a meat-heavy diet. Another reason is to prevent cruelty towards animals. The diet has been made popular by many sports personalities and Hollywood celebrities who endorse the vegan diet and lifestyle.

Step in the right direction

McVegan is not McDonald's first meat-free product. The Company has been serving several vegetarian burgers in India and Singapore for many years, which have been customized to suit local palate and sensitivity.

What is important and noteworthy is the fact that the fast-food giant has taken steps to introduce a vegan burger to cater to its vegan and vegetarian customers in a predominantly meat lovers market. According to a report by the Food & Wine, vegan and vegetarian population in the US has increased from 1% in 2014 to 6% in 2017. According to a survey conducted by the Vegan Society in UK in 2016, the number of vegans has gone up by 360% in last 10 years. In a research by Euromonitor International conducted in 2016, Australia is the third fastest growing vegan market in the world. Given that many developing countries have a growing population of vegans who are looking for meat-free and dairy-free options, McDonald's initiative is a step in the right direction.

As customer preferences change, restaurants like McDonald's need to innovate and adapt to these changes to stay relevant.

Last Close Stock Review

McDonald's share price finished yesterday's trading session at $160.12, slightly advancing 0.33%. A total volume of 2.12 million shares have exchanged hands. The Company's stock price skyrocketed 3.36% in the last three months, 23.19% in the past six months, and 41.14% in the previous twelve months. Additionally, the stock soared 31.55% since the start of the year. Shares of the Company have a PE ratio of 26.17 and have a dividend yield of 2.52%. The stock currently has a market cap of $129.95 billion.

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