Shares of meat alternatives soared when Beyond Meat, the California-based producer that’s come to epitomize the sector, went public four years ago, but a fall in stock prices suggests that venture capital investments may have gotten ahead of market realities.
Concerns about the meat industry’s environmental impact and carbon footprint have popularized plant-based substitutes in recent years. Market shares show that investors rushed toward the new food trend, but new data suggests that their eyes may have been bigger than their stomachs.
While Beyond Meat was worth more than $14 billion in 2019, it was worth $827.24 million as of Friday. Its shares have fallen about 95 percent over the last four years.
