Plant-based meat has been touted as a way of having our steak and eating it too. The industry had grand plans to remake the way we eat, cut down greenhouse gas emissions in meat and dairy production and address animal welfare concerns. Companies like Beyond Meat and Impossible had a meteoric rise in the late 2010s, with influencers, celebrities and investors backing the companies.
But now, it appears the hype over plant-based meat is over. Sales have dropped off and stock prices are worth less than a tenth of its peak.
Vox staff writer and journalist Kenny Torrella tells us why the noise around plant-based meat’s potential – and its flop – doesn’t tell the whole story.
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