Jeanne - Simme Valley
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Beyond Meat continues to struggle in waning US market
The company posted wider-than-expected losses
11 November 2023
2 minute read
By: Global Ag Media
North America
Beyond Meat missed market expectations for quarterly revenue and posted a wider-than-expected loss on Wednesday, hurt by relentless weakness in demand for plant-based meat in the United States, reported Reuters.
The company has been offering steeper discounts, as consumer sentiment about plant-based meat and its health benefits took a beating.
In a post-earnings call, Beyond Meat executives said the percentage of people in the US who believe plant-based meats are healthy is likely to have dropped further this year, after falling 38% in 2022 from 50% in 2020, as per data from trade association Food Marketing Institute.
For rest of article: https://www.thebeefsite.com/news/beyond-meat-continues-to-struggle-in-waning-us-market
The company posted wider-than-expected losses
North America
Beyond Meat missed market expectations for quarterly revenue and posted a wider-than-expected loss on Wednesday, hurt by relentless weakness in demand for plant-based meat in the United States, reported Reuters.
The company has been offering steeper discounts, as consumer sentiment about plant-based meat and its health benefits took a beating.
In a post-earnings call, Beyond Meat executives said the percentage of people in the US who believe plant-based meats are healthy is likely to have dropped further this year, after falling 38% in 2022 from 50% in 2020, as per data from trade association Food Marketing Institute.
For rest of article: https://www.thebeefsite.com/news/beyond-meat-continues-to-struggle-in-waning-us-market