The plant-based meat industry is in a bad place. Sales in the US fell last year as the pandemic-era enthusiasm for vegan burgers and sausages continued to wane. Beyond Meat, once the darling of the plant-based boom and the first one of its cohort to go public, in 2019, has become a cautionary tale about the tough road ahead for similar companies.
Beyond Meat announced mixed results for the second quarter of 2024. Revenue was down 8.8 percent, and sales volumes declined by 14 percent compared to the second quarter of 2023, but the margin the company made on each of its products was