Why it matters: plant-based meat start-ups were highly valued following Beyond Meat IPO
Beyond Meat’s recent financials reveal demand for plant-based meat has fallen
Plant-based meat start-ups are struggling to raise fresh funding as the excitement following the US-based Beyond Meat listing drastically cools and investors confront the reality that the wave of demand for plant-based meat is failing to materialise.
Nasdaq-listed Beyond Meat revealed its vegan burger sales had fallen by a third over the last quarter, with executives warning customers were plagued by cost-of-living pressures and dropping off in droves.
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Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com
