Has fake meat reached its expiration date? For a while, the vegan food manufacturer Beyond Meat were the hottest thing in food, their faux burgers and sausages so popular that everyone from McDonald’s to Honest Burger began cashing in on those slightly strange-looking pea protein patties. But now their revenue has slipped by a third, and the entire fake meat industry has been spooked.
After it went public in 2019 – when it was valued at more than $10bn – Beyond Meat’s shares shot through the roof. This continued throughout the pandemic, when it was reported that almost one in five Britons were eating more vegan and/or vegetarian food. It seemed as if veganism was taking over the world. But then something changed.
