How to lose its charm and plant-based meat industry

Beyond meat A ceiling started when its IPO started in 2019. As a company And other people in the plant-based meat industry developed better tasting products, Sales jumped and stock prices rose. The growing partnership with restaurants and retailers created greater acceptance among consumers.

“Everyone wanted a piece of them. Everyone wanted to tell their story,” said Alexia Howard, senior research analyst of our food at Bernstein. “And it encouraged people to test products.”

The successful IPO of meat was aligned with widespread enthusiasm around the choice of meat. According to data from market research firm Circle, sales for the overall market rose to $ 1.3 billion in 2020, increased by 46% from 2019.

“Early around the beend of meat investment around the time of the IPO, it was expected that plant-based meat could get a similar market share in the meat market that was achieved by plant-based beverages in cow’s milk market,” John Bomgunner said, senior equity analysts for food and healthy in Mizuho securities. “In a period of 10 years there was a number of shapes as $ 20 to $ 30 billion.”

Nevertheless, something changed in the last few years. Instead of continuous growth, the industry has seen a decline in sales, rising trimming and closed factories. And beyond the meat, once a leader in the sector falls from a high of $ 239 in 2019, which is above $ 3 $ 3 today.

“It was a major disruption of food supply and a major threat to the beef industry,” said Emerita, Professor of Nutrition, Food Studies and Public Health at New York University. “And it didn’t work like this.”

Watch the above videos to know what went wrong beyond meat in recent years, the challenges faced by the company and the broad plant-based meat industry today and can the sector re-strengthen itself to win consumers’ hunger back.