Beyond Meat (BYND)
Beyond Meat demand surged in previous years, propelled by a major shift in consumer behavior: plant-based protein demand.
However, this surging demand has stalled.
Consumer mentions of buying, trying, and consuming plant-based protein sources fell -20% in the last quarter vs. prior year.
While mention volume remains higher than levels recorded prior to 2018, it is a stark shift in growth…which is exactly what Beyond Meat is counting on: new plant-based meat-eaters.
The chart below reveals a significant decline in demand for Beyond Meat products: -55% YoY in the last 90 days.
Last quarter, $BYND shares tumbled after a disappointing report revealed a flailing foodservice segment and confirmed elevated “stockpiling” activity observed in Q2 was short-lived.
We’ll be watching consumer demand closely as new products are launched… but for now we aren’t seeing signs of improvement.