via Yahoo:
Bogged down by inflationary pressures, customers are opting for lower-priced animal protein over alternatives such as plant-based products.
The ambiguity around the health benefits of plant-based meat is also weighing on growth, said CEO Ethan Brown in a post-earnings call.
“This change in perception is not without encouragement from interest groups who have succeeded in seeding doubt and fear around the ingredients and process used to create our and other plant-based meats,” he added.
It costs more, doesn’t taste as good, has less nutritional value, and isn’t any better for the environment — but other than that it’s far better than actual meat.
h/t Stephen Green