---
title: What happened to Beyond Meat?
description: Plant-based meat sales have slowed amid inflation, health concerns, and company fumbles.
---

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# [What happened to Beyond Meat?](https://hs-sbup.thehustle.co/news/11232022-beyond-meat)

 Written by [Juliet Bennett Rylah](https://hs-sbup.thehustle.co/news/author/juliet-bennett-rylah) | Nov 23, 2022 7:38:44 AM

Beyond Meat was soaring when it went public [in 2019](https://www.wsj.com/articles/beyond-meat-doubles-share-price-in-early-trading-11556814585?mod=article_inline).

Its faux-meats popped up in myriad restaurant and grocery chains, and at one point it reached a **$10B+ **valuation — though *The Motley Fool* [cautioned](https://www.fool.com/investing/2019/06/10/heres-why-beyond-meat-soared-past-a-10-billion-val.aspx) it was overvalued.

#### **But now? The hype is cooling**

Beyond Meat shares have dropped ~83% this year while sales have stagnated, [per](https://www.nytimes.com/2022/11/21/business/beyond-meat-industry.html) *The New York Times*.

- In October, it laid off 200 workers, or ~19% of its workforce.
- The company lost four execs, including the COO, who was [accused](https://www.cnbc.com/2022/09/19/beyond-meat-coo-doug-ramsey-arrested-for-allegedly-biting-mans-nose.html) of biting a man’s nose during a fight.

Employees also [told](https://www.wsj.com/articles/beyond-meat-ethan-brown-stock-layoffs-sausages-11668963839) *The Wall Street Journal *that CEO Ethan Brown, who founded Beyond Meat in 2009, rushed timelines, resulting in wasted resources and unenthused customers.

#### **But it’s not just Beyond Meat**

Brazilian meatpacker JBS announced it would shutter its plant-based arm in October, while Kellogg’s Morningstar Farms has seen sales drop, reportedly over supply chain issues.

Also:

- Amid inflation woes, plant-based meat is rarely cheaper than real meat.
- It may be better for the environment, but it isn’t [necessarily healthier](https://www.nytimes.com/2019/12/03/well/eat/fake-meat-vs-real-meat.html) — something meat lobbyists use in ads.

**In the US**, where [~5%](https://news.gallup.com/poll/267074/percentage-americans-vegetarian.aspx) of consumers identify as vegetarian, meat-eating has also become weirdly political.

Cracker Barrel was [accused](https://www.insider.com/cracker-barrel-adds-impossible-sausage-menu-2022-8) of being too “woke” for introducing plant-based sausage.

**The hope for alt meats….**

… may lie in cheaper, frozen products vs. refrigerated and fake chicken over beef or pork.

Impossible Foods claims sales are up 60% YoY, buoyed by those two categories.

Meanwhile, the FDA just [approved](https://techcrunch.com/2022/11/16/upside-foods-cell-cultured-meat-fda/) the first cultivated meat in the US — Upside Foods’ cell-based chicken — meaning an entirely new option may be on the way.

[View full post](https://hs-sbup.thehustle.co/news/11232022-beyond-meat)

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