Nobody really wants to eat lab-grown meat. Because it’s, you know, meat grown in a lab. Nobody wants that.
And industry leaders are clearly getting the message, because they’re trying to shift tactics to bolster their flagging sales: These days, stories of struggle [in the fake meat industry] are more common than success. Beyond Meat, a public company, has seen revenue drop, and Impossible Foods, a private company, is in no hurry to hold its IPO.
When Impossible Foods CEO Peter McGuinness took the stage recently at the Adweek X Conference in Los Angeles … it was for anything but a victory lap. The industry, he said, should shift from “insulting to inviting” consumers. Translation: “Please eat our synthetic meat product!”
Somehow I doubt it’s going to work. The industry numbers are looking very grim indeed: Beyond Meat for 2022, its last full year, reported a $366.1 million net loss on […]
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