The end was always inevitable for Beyond Meat, because being an innovator does not mean having a moat to protect your business. The pioneering company arguably created the category of plant-based meat that acts like actual meat.
That’s clever, but it’s not a defensible business. Once Beyond Meat BYND created the category, it was inevitable that the product would become commoditized.
Beyond Meat owns no real intellectual property (IP), and every company in the meat and grocery business (more or less) now sells a take-off of a product that already had limited appeal.
The people who like plant-based meat really like it, but that’s a niche audience that won’t grow all that much. That has created the “frozen yogurt store” effect for Beyond Meat.
https://www.thestreet.com/restaurants/beyond-meat-is-headed-to-chapter-11-bankruptcy