Beyond: a plant-based bloodbath
Beyond Meat, the California-based plant substitute maker which raised a billion dollars to fund its ambition to get consumers to switch away from meat, has reported falling retail sales in the key US market, a collapse in its gross margin and mounting losses. And this isn’t just a story of one brand failing – the much- hyped US plant-based meat alternative category started to decline in 2021, even as sales of meat increased.