Back in June, my colleague, Tim Gilberto, grimly reported that Burger King’s addition of bacon and American cheese to its Impossible Burger might be a sign that interest in meatless meals was declining. A Bloomberg report in August noting that Beyond Meat had laid off about 40 of its 1,100 workers seemed to underscore the handwriting on the wall.
Now fresh reporting of a second round of layoffs confirms that enthusiasm in plant-based meat “has broadly cooled off. Retail sales of refrigerated meat alternatives fell almost 11% in the 12 months ended Oct. 2 from the previous period, IRI data show. Beyond Meat-branded sausage substitutes fell 19% in the period, while the company’s plant-based patties dropped 27%.”
There is one possible note of optimism — namely that the sale of Beyond Meat’s faux meatballs had risen 19%. One might also posit that the decline in sales and firings might be attributed to inflation. All in all, however, the future of the meatless revolution is looking bleak.