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Fake meat is bleeding, but It’s not dead yet

Wired · 1y

The initial hype and growth of the alternative meat industry, led by companies like Beyond Meat and Impossible Foods, has subsided. Beyond Meat reported a 31% YoY decrease in net revenues, signaling a broader trend of slowing growth. Plant-based meat sales fell by 1% in the US in 2022, leading to concerns about the "peak vegan" concept. However, there is still potential for growth in plant-based proteins, particularly with government support encouraging dietary shifts and increasing demand in Europe.