Why are plant-based meat sales declining?

Plant-based meat sales are declining due to consumers becoming more aware of their ultra-processed nature and realizing that vegan does not always mean healthy.

Which companies have struggled in the plant-based meat market?

Companies like Meatless Farm, VBites, and Neat Burger have faced administration or liquidation, while Beyond Meat reported significant financial losses.

Are all vegan products unhealthy?

No, while many plant-based meat alternatives are ultra-processed, high-quality vegan restaurants are succeeding by focusing on wholefoods and innovative cooking.

Home / Business and Economy / Joyless Vegan Food: A Grim Reality Check

Joyless Vegan Food: A Grim Reality Check

1 Feb

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Summary

Plant-based meat sales saw a 10.4% drop between 2022 and 2024.
Several vegan food companies have collapsed or been sold since 2023.
High-quality vegan restaurants are thriving, unlike fake meat products.

Joyless Vegan Food: A Grim Reality Check

Plant-based meat alternatives have seen a notable decline in sales, with a 10.4% drop between 2022 and 2024, followed by a further 4.5% decrease by January 2025. This trend has impacted companies like Meatless Farm and VBites, leading to administrations and sales. Even well-backed ventures such as Neat Burger faced liquidation, while market leader Beyond Meat reported significant losses.

The failure of these 'fake meats' contrasts with the success of high-end vegan restaurants. Chefs like Alexis Gauthier and Kirk Haworth are creating innovative and acclaimed dishes using plant-based ingredients, demonstrating a demand for authentic, wholefood-based vegan cuisine. These chefs emphasize the purity of flavor and intricate techniques, moving away from processed substitutes.

Experts suggest consumers are increasingly aware of the ultra-processed nature of many vegan meat alternatives, realizing that 'vegan' does not automatically equate to 'healthy.' This growing savviness, coupled with rising prices, is shifting consumer preference towards simpler, more affordable ingredients and higher quality, ethically sourced animal products when meat is consumed.