The El Segundo company, which has seen its sales drop sharply, is banking its turnaround on a new burger that it says is healthier and tastier.
When Beyond Meat went public in 2019 in an initial stock offering that saw its shares nearly triple in price, it seemed to confirm that plant-based meats had arrived. The food technology, capable of converting beans into something approaching meat in taste and appearance, caught the imagination of the public, restaurant chefs and media alike. Deals with fast-food chains and soaring sales during the pandemic seemed to only underscore how a once-fringe idea had gone mainstream.
Beyond has tried to stress that all its ingredients come from plant-based sources, but there are many nutritionists on the web who also have voiced concerns about the fat and sodium content — and an industrial process that creates a product Grandma would not have stocked in her kitchen. Baumgartner thinks those voices have resonated more than any industry-backed campaign. Brown maintains entrenched food lobbies are the real culprit, while also acknowledging their effectiveness.
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