Vegan food maker Beyond Meat has seen its sales crash by almost a third as consumers reject its hyper-processed, plant-based products despite substantial price cuts and claims its customers can “positively affect the planet.”
it had been affected by “softer demand in the plant-based meat category, high inflation, rising interest rates, and ongoing concerns about the likelihood of a recession”.
“This change in perception is not without encouragement from interest groups who have succeeded in seeding doubt and fear around the ingredients and process used to create our and other plant-based meats,” Brown added during an earnings call.
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