Beyond Meat sells products like plant-based burgers, sausages, and nuggets. The brand’s tagline is that their food is better for the environment and a healthier alternative to the red meat Americans are traditionally used to eating. Beyond Meat even landed Kim Kardashian to do an ad for them, calling herself a “chief taste consultant” as she awkwardly ate fake burgers, meatballs, and nuggets. Despite their efforts, their sales have dropped dramatically in the last couple months.
Vegan Company Beyond Meat Is Facing Bigger Financial Losses Than Ever Before As Sales Plummet in the Last 3 Months
There has been rising speculation that the plant-based alternatives to meat aren’t nearly as healthy as we’re told they are. They often contain artificial ingredients, soy, or seed oils in order to make something that somehow resembles real meat. Americans don’t seem to be all that interested in eating these products, no matter how much they’re marketed to them. According to New Nutrition Business, the last three months have brought in unfortunate sales numbers for Beyond Meat.
“Meat substitute catastrophe as the fantasies of billionaire investors slam into the reality of the supermarket,” Julian Mellentin, business expert and podcast host, writes on Twitter. “Sales down 22.5% in the last 3 months. Losses up by 180%. Every $1 of product it sells costs $1.82 to make. It takes a very special talent to run a business like this!”
He shares a chart showing how the losses have increased 180%, under which many people have commented that they wouldn’t touch the meat alternative with a 10-foot pole. “That name is just such a turn off for me,” someone commented. Another person pointed out how unappetizing the fake sausage looks on the shelves.
Mellentin adds that Beyond Meat isn’t only having a hard time because they have more competitors now. “The other entrants are also struggling,” he tweets. “Kellogg, the market leader and one of the very few to make a profit, says it’s getting out.”
It seems pretty clear that Americans aren’t interested in replacing their meat with a vegan alternative, especially considering the fact that Beyond Meat products and similar competitors’ products are just as expensive, if not more expensive, than the real meat people can buy at the grocery store. No matter how hard companies and celebrities try to make veganism attractive, they just can’t get Americans to commit and replace their burgers with plant-based patties.