业绩持续亏损，功能饮料会是别样肉客的出路吗？

Core Insights - Beyond Meat has officially entered the beverage market with the launch of Beyond Immerse, a plant-based functional drink made primarily from pea protein, marking its first significant foray into functional foods and beverages [1][2] - The company aims to diversify beyond its core plant-based meat products amid ongoing revenue declines, seeking new growth avenues [1][4] Product Details - Beyond Immerse features two protein versions (10g and 20g) with corresponding calorie counts of 60 and 100, and includes 7g of dietary fiber, with no GMOs or sugar alcohols [2] - The drink is available in three flavors: Peach Mango, Lemon Lime, and Orange Tangerine, and is positioned for post-workout or daily consumption, focusing on muscle recovery, gut health, and immune support [2] Market Context - The launch comes at a time when Beyond Meat is experiencing significant financial losses, with revenues dropping from $419 million in 2022 to an expected $326 million in 2024, alongside increasing net losses [4][5] - The global plant-based meat industry is facing a downturn, with a 64% drop in venture capital investment in 2024, leading to challenges for companies like Nestlé and Unilever, which have scaled back their plant-based meat operations [5] Strategic Shift - Beyond Meat is shifting its brand focus from meat alternatives to traditional plant proteins, gradually phasing out the "Meat" designation from its branding [6] - The introduction of Beyond Immerse reflects a deeper strategy to diversify product offerings and tap into faster-growing markets [6][7] Competitive Landscape - The high-protein beverage market is rapidly expanding, with a reported 122% growth in high-protein shakes and drinks from 2020 to 2024, indicating a strong consumer interest in protein intake [7] - Competitors in the beverage space include major brands like Danone and Protein Works, which have launched their own high-protein plant-based drinks [7] Consumer Insights - The company is leveraging a Direct-To-Consumer (DTC) model through its new website, Beyond Test Kitchen, to test market acceptance and gather consumer feedback, which is crucial given its current cash flow challenges [3][8] - Despite the potential for growth, there is a risk that consumers may still associate Beyond Meat primarily with plant-based meat, which could hinder the acceptance of its new beverage line [8]