After exploding on to the scene as the next big thing in food, the plant-based meat trend has come back down to earth of late as consumers and investors discover that, behind all the sizzle, there’s not a lot of steak.
The poster child for the trend is Beyond Meat, the meat alternative company whose highly touted IPO in 2019 saw it more than double in value on its first day.
The business case was simple: For economic, environmental and health reasons, people around the world would soon decide to eat less meat, and instead consume plant-based proteins.
