Beyond Meat Mentions have dropped -45% YoY as the brand loses its new luster with consumers.
This waning buzz is in line with the number of consumers talking about following a plant-based diet: -37% YoY.
Looking ahead, the company is hanging its hopes on “chicken”.
High demand coupled with supply chain shortages is driving the price of real chicken higher.
(Chicken wing prices have doubled in the past few months). This could be good timing for BYND’s recent release, but the product won’t begin contributing to revenue until 21Q3.
Looking ahead, it will be critical for Beyond to rejuvenate its foodservice business. Reopening will certainly help that, alongside new menu items — but our data suggests it may not be enough yet.