Chipotle will debut a high-protein menu on Tuesday, Dec. 23, with 15 grams to 81 grams of protein per item.
Source: Chipotle Mexican Grill
Chipotle Mexican Grill Enter the snack business.
The fast-casual giant announced Thursday that it will roll out its first-ever “High Protein Menu” later this month, featuring to-go protein cups. Starting Tuesday, customers in the U.S. and Canada will be able to purchase 4-ounce portions filled with adobo chicken or steak.
The move is aimed at reinvigorating demand as the chain known for its hearty burritos and bowls faces slowing sales growth and fundamental changes in the way Americans eat.
“For years, guests have been using Chipotle’s customizable menus to create their own meals rich in protein and fiber,” Chris Brandt, Chipotle’s president and chief brand officer, said in a release.
The company recently lowered its full-year same-store sales forecast for the third quarter in a row, causing its stock price to drop nearly 20% in one day. Several Wall Street firms lowered their price targets, citing the sharpest decline in traffic among customers ages 25 to 35 and diminishing prospects for a recovery.
Chipotle stock has fallen about 38% since the beginning of the year.
Across the fast-casual industry, Chipotle is grappling with a value issue as inflation-weary consumers are cutting back on eating out, with some diners lumping the chain in with its more expensive fast-casual competitors, even though the average price of an entrée is nearly $10, analysts previously told CNBC.
In addition to protein cups, the High Protein menu includes entrees such as the Double High Protein Bowl and High Protein – High Fiber Bowl, with protein content ranging from 15 to 81 grams per serving.
“This curated menu brings fan behavior to the forefront with clean ingredients and flexible portion sizes, making it easy to hit your protein and other dietary goals with just a few taps,” Brandt said.
Chipotle’s high protein concentration and small portions allow it to compete not only with other restaurants, but also with protein bars, shakes, and convenience store snacks, potentially attracting more customers than just lunch or dinner.
According to Chipotle, high-protein meals have ranked as the top dietary pattern in the United States for three years in a row. According to the International Food Information Council, about 70% of Americans say they are currently prioritizing protein, and more than one-third have increased their protein intake in the past year.
The launch also comes on the back of dramatic changes in consumer behavior due to GLP-1 weight loss drugs and increased interest in tracking macronutrients. GLP-1 users in particular tend to eat less while focusing on protein to maintain muscle mass, a trend that is forcing restaurant chains to rethink portion sizes, menu structure, and pricing.
Chipotle isn’t alone in pivoting to protein-focused products. Fast-casual salad chain Sweetgreen recently followed this trend by introducing a new menu featuring a bowl containing 106 grams of protein.
