Beyond Meat(US:BYND) Sou Hu Cai Jing·2025-12-02 00:36Core Viewpoint - Beyond Meat, the first publicly traded plant-based meat company, has decided to suspend its operations in China, marking a significant retreat from a market it once viewed as strategic for growth [4][10]. Group 1: Company Operations - Beyond Meat's Tmall flagship store has ceased operations as of November 27, and its Pinduoduo store no longer sells any products [2][10]. - The company had previously announced plans to cut 95% of its workforce in China by the end of June 2023 to reduce operational costs [4][10]. - Despite inquiries about a potential return to the Chinese market, Beyond Meat has not provided any responses as of the latest report [4][10]. Group 2: Market Context - The demand for plant-based meat in China has significantly declined, with major brands like Starbucks, KFC, and Nestlé ceasing to offer plant-based products [10][11]. - Beyond Meat's revenue has been on a downward trend since 2022, with projected revenues of $4.65 billion in 2021, dropping to $3.27 billion in 2024, alongside increasing net losses [11]. - The company's U.S. market also reflects a decline, with retail channel revenues down 18.4% and food service revenues down 27.3% in the latest quarter [11][12]. Group 3: Industry Challenges - The overall market for plant-based meat in China is facing challenges, as consumer preferences lean towards traditional meat products, making it difficult for plant-based alternatives to gain traction [17]. - Other companies, including Nestlé and Unilever, have also exited or scaled back their plant-based meat operations in China, indicating a broader industry retreat [15][17].