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盐财经·2025-12-02 10:07

Core Viewpoint - Beyond Meat, known as the "first stock of plant-based meat," has closed its flagship stores on major e-commerce platforms in China, indicating a significant retreat from the market [2][4]. Group 1: Company Performance and Market Presence - As of November 30, 2023, Beyond Meat's official flagship store on Tmall is no longer searchable, and its Pinduoduo store is also inaccessible, suggesting a complete halt in operations in China [2]. - The company has ceased production at its factory in Jiaxing, China, and is currently selling off existing inventory and imported products from the U.S. [4]. - Financial reports indicate a decline in revenue from $419 million in 2022 to $326 million in 2024, with cumulative losses reaching $864 million [12]. Group 2: Pricing and Consumer Perception - Beyond Meat's products are priced above local alternatives, with plant-based meat costing over 60 yuan per kilogram, comparable to domestic beef prices, which has deterred potential customers [5][10]. - A significant portion of consumers (approximately 74%) reported they do not plan to repurchase plant-based meat products, primarily due to unsatisfactory taste and texture [15]. Group 3: Market Trends and Future Outlook - The plant-based meat market in China is projected to grow from approximately $760 million in 2024 to about $3.85 billion by 2033, with a compound annual growth rate of around 20% [19]. - Despite the current challenges, industry experts believe that plant-based meat can complement animal protein sources, addressing the growing demand for sustainable food options [18].