Snarky woke advertisements permeated the airwaves and interwebs as plant-based 'meats' were on the rise. In fact, Beyond Meat waas valued at over $10bn in 2019, more than Macy's or Xerox - with the most bullish investors claiming that plant-based meat would make up 15% of all meat sales by 2030.
Sales of refrigerated meat alternatives at retailers are down 10.5% by volume for the 52-weeks ending September 4, 2022, according to data from Information Resources Inc., or IRI. While higher prices are the top reason for the slide, it's not the only one, according to Jonna Parker, a fresh food specialist at the market research company. -Bloomberg