Zero Hedge | Feb. 5, 2023
The fake meat industry appears to be in a death-spiral as sales at plant-based ‘meat’ companies Impossible Foods and Beyond Meat have imploded.
As Axios reports, “after years of hype, the tide is turning against the first generation of plant-based protein makers.”
Last year, both companies were riding high – with prime placement on supermarket shelves, and Burger King even adding an Impossible Whopper to its menu.
Impossible Meat even began to branch out – looking to expand offerings to highly processed meats such as chicken nuggets and sausages.
Sales have collapsed, however, which according to a recent Bloomberg report, has resulted in Impossible Foods planning to lay off around 20% of its workers.