• Mon. May 29th, 2023

Plant Meat Does not Meet the Taste of the Meat Test

Fake meat falls on hard times

By Saundra Latham, Editor at LinkedIn News

Updated 10 hours ago

Just a few years ago, plant-based meat was poised to become the next big thing. But instead of disrupting the meat industry, once-buzzy firms like Beyond Meat and Impossible Foods are struggling, Bloomberg writes. The main problem: Customers “eventually took a closer look at the ingredient list and couldn’t figure out whether they were actually trading up” to something healthier than real meat, especially considering the price premium. Only 38% of Americans say plant-based meats are healthy now, a 12% drop in just two years, Citi Global Insights reports.

  • Beyond has had a particularly tough time, with its stock falling more than 90% from its 2019 peak. The firm’s market cap has dwindled from roughly $14 billion to $1 billion.

Deena Shanker

Deena Shanker• 3rd+Food reporter at Bloomberg

16h • 16 hours agoFollow

I’m really proud of our story on the fake meat flop that ran yesterday and will be on the cover of the forthcoming issue of Bloomberg Businessweek. A lot of people out there seem to think I haven’t covered or don’t know about the problems created by industrial agriculture. Guys, I’ve been covering it for nearly a decade!!

Here is a small smattering of some of that work:








There are major problems with the meat industry — but the plant-based analogues simply are not solving them.