Orange with Media Services, published on Sunday, October 16, 2022 at 10:15 p.m.
Faced with the slowdown in its growth, the Californian start-up Beyond Meat, which offers plant-based alternatives to meat, announced Friday, October 14 the loss of 200 jobs. It is not the only company to revise its objectives downwards as herbal products are becoming less and less attractive.
She had capitalized on the growing popularity of herbal products.
But the results are not up to expectations. The Californian start-up Beyond Meat, which has been offering plant-based alternatives to meat since 2009, announced on Friday the cut of 200 jobs, or about 19% of its global workforce. It is not the only company to be disillusioned.
Beyond Meat lowered its financial forecast. The group recorded a slight drop in sales in the first half and nearly $200 million in losses. The start-up is now counting on an annual turnover of between 400 and 425 million dollars, where it estimated it until now in the range of 470 to 520 million dollars.
Before her, it was the Brazilian group JBS, a global seller of beef, chicken or pork, which lowered its targets. At the beginning of October, it announced the closure of its American subsidiary more specifically dedicated to alternatives to meat. Planterra Foods, a Colorado-based subsidiary, had launched in the spring of 2020 under the OZO brand, with the plant-based equivalents of burgers, ground meat and meatballs.
“We continue to believe in the potential of plant-based options for consumers and remain committed to the alternative protein market,” the spokesperson said Monday, October 3. However, it did not specify in what forms in the United States.
The company prefers to “focus its efforts on its herbal operations in Brazil and Europe, which continue to gain market share and expand their customer base,” the representative said.
The “largest production plant” of plant substitutes in France
In France, the start-up HappyVore, which markets imitation steaks or vegetable nuggets, believes in the dynamism of the market and wants to build “the largest production plant” of vegetable substitutes in France, thanks to a fundraising of 35 million euros.
The start-up has bought a 19,000 square meter “wasteland” agri-food site in Chevilly (Loiret), and is aiming to start up its factory in early 2023. Its 12 products imitating the flavors and textures of meat, are already distributed in most major brands such as Auchan, Carrefour, and soon Metro, which supplies restaurants.
Yesterday a real trend in society, will plant substitutes one day replace meat? Or will they just remain an option like any other? In any case, they make it possible to reduce animal protein consumption, which we know is costly for the planet. Even if their industrial character is often singled out.