In 2012 the Los Angeles-based food company Beyond Meat released its first plant-based burger alternatives, and went it went public it was valued at $10 bn.
But today Beyond Meat reports recent sales are down 30% compared with the same period last year and the firm's value is down by 95% compared to that original $10 bn valuation.
Beyond Meat's Stock Price... it's like looking at crypto charts!
Quite the fall from grace in just 10 years!
But this just seems to be an extreme case illustrating a wider trend in the fake-meat industry. The Leeds-based Meatless Farm went bust in June and Pret has closed half of its vegetarian and Vegan only stores.
Has Veganism Peaked?
Not according to the Insight Partners who estimate the Vegan food industry is going to double in value to more than $30 billion by 2028.
It's more likely that fake-meat has peaked! People are maybe falling out of love with the over-processed stuff!
It could be that people are just coming to their senses and realising how unhealthy this stuff is!
It could also be that fake meat is quite expensive, compared to just making tasty vegan dishes without fake meat: I mean you can make many curries and stir fries and bean things without such products after all!
Bring on the natural beans, nuts and mushrooms I say and enough with this processed garbage!
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