Beyond Meat continues to struggle

Beyond Meat, one of the leading producers of plant-based —and heavily processed— meat substitutes, had another difficult quarter (April–June 2025), with revenues down 19.6% year-on-year to just US$ 75 million, below analysts' expectations (around US$ 82–83 million). The volume of products sold shrank by nearly 20%, significantly affecting both revenue and gross margin. The gross margin fell to 11.5%, down from 14.7% in the same period last year, according to Investing and the Green Queen portal.

Net loss stood at approximately US$ 33 million, slightly better than last year thanks in part to favorable foreign exchange gains. Still, operating losses increased to US$ 38.8 million, due also to high non-recurring costs, litigation, and the wind-down of operations in China.

The only sales channel that brought relatively good news was the US foodservice segment, which posted a 6.8% increase in revenue. However, retail revenues fell by 26.7% in the US and 9.8% globally, while global foodservice revenue plummeted by 25.8%.

Analysts noted that “high perceived prices compared to conventional meat, a negative narrative around ultra-processed products, and the renewed popularity of animal-based foods weighed on demand.” The plant-based meat category remains severely affected, with US refrigerated product sales down 17% and frozen down 8% this year, Reuters reported.

Beyond Meat CEO Ethan Brown acknowledged that this is “not the moment” for plant-based meat, attributing the downturn to a cultural shift toward animal production and a deeply rooted negative narrative. The company’s strategy now focuses on stabilizing operations, adjusting the cost structure, innovating with products that have better nutritional profiles and value, and strengthening its presence in high-impact distribution channels.