Fake Meat Industry Implodes After Years of Hype

The meat substitute market is collapsing after its meteoric rise, with key players in the industry facing massive layoffs and plummeting sales.

Fake meat products like Beyond Meat and Impossible Foods, which advertise themselves as healthy and environmentally friendly alternatives to meat, soared to national popularity in 2019 when they began selling their products with massive fast food chains. Impossible Foods was moving toward laying off 20% of its staff in late January just months after its competitor, Beyond Meat, announced plans to cut a fifth of its own workforce, according to Bloomberg.

The United Nations and the World Economic Forum have urged the public to eat less red meat and adopt meat substitutes, citing concerns about carbon emissions from the meat industry. Beyond Meat founder Ethan Brown has taken the stage at numerous conferences and panels over the last decade touting the benefits of fake meat for human health and the environment, and in 2022 he said his process for breaking down plant products into protein would render the current meat agriculture system obsolete in a New York Times conference on climate change.

The consulting firm Deloitte found in September that consumers were opting out of meat substitute products like Beyond Meat because they considered the brands “too woke;” the trend held true even among individuals looking to cut back on red meat consumption. (Read more from “Fake Meat Industry Implodes After Years of Hype” HERE)

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