曾被华尔街吹成"拯救未来的食品"，还拉来比尔·盖茨、莱昂纳多等名人站台的"人造肉第一股"别样肉客（Beyond Meat），如今在中国市场彻底凉 了。 各大电商平台上，它的官方旗舰店已踪迹难寻，就连在嘉兴建起的生产工厂也已停产歇业。 从高调宣布征服中国餐桌，到悄无声息地全面撤退，这期间不过短短几年时间。与此同时，它的市值从巅峰时的200多亿美元暴跌至如今的零头， 上演了一场资本炒作的闹剧。 这背后到底藏着怎样的逻辑？欧美人造肉又为何在中国栽了大跟头？ 前几年还被资本疯狂追捧、被寄予改变人类饮食方式厚望的人造肉，如今却落得个惨败收场的局面。就拿 "人造肉第一股" 别样肉客来说，它的兴 衰史堪称一部现实版的商业 "过山车"。 2019 年，别样肉客在纳斯达克上市，那场面，简直是锣鼓喧天、鞭炮齐鸣。 上市当天股价就像坐了火箭一样，暴涨 163%，创下 2008 年金融危机以来美股 IPO 首日涨幅纪录 ，最高股价逼近 240 美元，市值一度被寄予万亿 级厚望，仿佛一个新时代的饮食巨头就要诞生了。 然而，现实却给了它一记又一记的耳光，如今，它宣布正式关闭天猫旗舰店，嘉兴工厂也停产了，股价更是惨不忍睹，跌至 1 美元左 ...

那个曾被华尔街吹上天、号称"未来食品救世主"的美国人造肉巨头别样肉客，正式宣布暂停中国市场的 全部运营了。 这场轰轰烈烈搞了五年的中国市场扩张，最后就这么黯然收场了，可能很多人还有印象，这家企业当年 进入中国的时候，那风头可不是一般的盛。 2019年它顶着"人造肉第一股"的光环登陆美股，首日股价就暴涨163%，两天时间累计涨幅超450%，市 值一下子冲到200多亿美元。比尔·盖茨、莱昂纳多这些国际名人，都纷纷掏钱给它投资站台。 到了2020年，它高调进军中国市场，还专门为中国市场定制了植物肉饺子，刚推出那阵儿，还搞出过3 分钟售罄1000份的噱头，地铁站里到处都是它"少肉才是我的菜"的广告。 谁能想到，短短几年时间，这家曾经的明星企业就从云端跌到了泥里，现在市值蒸发超九成九，只剩下 不到2亿美元，债务却高达11亿美元，从中国撤退，说白了就是它全球收缩的无奈之举。 要说这欧美人造肉在中国栽跟头，最开始让人受不了的就是那价格，简直贵得没道理，大家过日子，买 东西最先看的就是性价比，可这帮欧美品牌偏不按常理出牌。 一盒230克的植物肉，敢卖到30块钱，这个价格在菜市场，能买到近500克的新鲜真肉了。 更离谱的是那汉 ...

欧美这些年卖的不是肉，是"故事"，环保、科技、全球拯救计划。但故事讲完，中国市场只回了一句话：你这玩意儿，真吃不下去。 别样肉客（Beyond Meat），全球"人造肉第一股"，在2025年底彻底关停在中国市场的所有电商旗舰店，就连当初高调投建的浙江嘉兴工厂也悄然停产。 这场曾被华尔街高度吹捧、全球红遍的"未来食品革命"，在中国，正式宣告失败。 这不是一个简单的商业失利，而是全球资本意识形态碰壁的一记重拳。 当年别样肉客上市的时候，彼时纳斯达克的宠儿、华尔街的座上宾，小李子（莱昂纳多·迪卡普里奥）和比尔·盖茨都纷纷站台力挺，喊着"环保"、"健 康"要"征服全球餐桌"。 可如今却宣布退出，更讽刺的是它退出中国时，连个道别都没有，悄悄拉下电商铁门，一走了之，丢下那堆滞销库存，连旋转跳跃都懒得做。 欧美资本搞人造肉，其实有一个精密的"商业复合逻辑"。 可惜这东西在中国真卖不动，价格像牛排，原料还不如辣条，这场大败局的第一块多米诺骨牌就是价格。 你说它贵也就算了，关键吃下去才发现这根本不是"牛肉替代物"，而是"高价工业豆饼"。 咱掰开看它的配料表，主原料是豌豆蛋白，就是那种几块钱一斤的原材料，摇身一变，加点"科技与狠 ...

2025 年末，曾获比尔・盖茨投资、市值一度超 150 亿美元的 "植物肉第一股" 别样肉客（Beyond Meat），以天猫、拼多多旗舰店终止运营、嘉兴工厂停产的方式，正式为其中国业务画上句号。这一 标志性事件，不仅是外资品牌本土化失利的又一案例，更折射出曾被资本热捧的人造肉赛道，从狂热到 泡沫破裂的完整周期。 从高光入场到黯然退场：别样肉客的中国征程 2020 年，别样肉客借势全球植物基食品热潮进入中国市场，初期凭借头部餐饮合作迅速打开知名度。 当年 4 月，与星巴克中国推出 3 款植物牛肉轻食产品，售价 59-69 元；6 月与百胜中国联手，在肯德 基、必胜客等门店推出的 "植培牛肉芝士汉堡"，3 小时内 80 份售罄。为深化本土化布局，品牌于 2020 年 9 月在嘉兴建立首个海外工厂，2021 年 4 月投产并推出植物基煎饺等定制产品，本土化价格较进口 产品降低 30%。 零售端布局同样动作频频，2020 年进驻盒马鲜生，2022 年开设天猫、拼多多旗舰店，同年与罗森合作 在江浙沪皖 2300 余家门店推出植物基便当。然而，热闹的市场布局未能转化为持续增长的业绩。2023 年，别样肉客天猫旗舰店销量 ...

Core Viewpoint - The article discusses the rise and fall of Beyond Meat in the Chinese market, highlighting the challenges faced by plant-based meat companies in adapting to local consumer preferences and the failure of their marketing strategies [10][15][70]. Group 1: Beyond Meat's Market Performance - Beyond Meat, once a star in the plant-based meat industry, has seen its market value plummet from $20 billion to under $2 billion, losing over $10 billion in market capitalization [13][34]. - The company has closed its flagship store on Chinese e-commerce platforms and halted production at its factory in Jiaxing, Zhejiang [10][34]. - Revenue has declined from $4.19 billion in 2022 to $3.26 billion in 2024, with cumulative losses reaching $8.64 billion during the same period [34]. Group 2: Marketing Strategies and Consumer Response - Beyond Meat attempted to penetrate the Chinese market through partnerships with major brands like McDonald's and Starbucks, but these efforts did not yield the expected results [28][30]. - The company employed aggressive marketing tactics, including celebrity endorsements and campaigns promoting the health benefits of plant-based diets, but these strategies failed to resonate with Chinese consumers [31][32][70]. - A significant 74% of Chinese consumers indicated they would not repurchase plant-based meat products, primarily due to high prices and unsatisfactory taste [45][46]. Group 3: Challenges of Plant-Based Meat - The article identifies two major issues with plant-based meat: high prices and poor taste, which have hindered its acceptance in the Chinese market [39][48]. - Plant-based meat products are often priced significantly higher than traditional meat, with some products costing up to 82% more than their animal-based counterparts [41][39]. - The taste and texture of plant-based meat have been criticized, with many consumers finding them inferior to traditional meat options [44][39]. Group 4: Environmental and Health Claims - Claims regarding the environmental benefits of plant-based meat have been challenged, with studies indicating that the carbon emissions from producing plant-based meat can be significantly higher than those from traditional beef [49][48]. - The health benefits promoted by plant-based meat companies have also been questioned, as many products contain high levels of sodium and additives [48][49]. Group 5: Lessons for the Industry - The failure of Beyond Meat serves as a cautionary tale for food entrepreneurs, emphasizing the importance of aligning product offerings with genuine consumer needs rather than relying on capital-driven narratives [70][73]. - The article suggests that successful food innovations must prioritize taste, affordability, and real consumer demand rather than imposing moral or environmental arguments [66][70].

把顾客当上帝的甜头，再次被蜜雪冰城尝到了。 最近，雪王在美国卖超甜奶茶火上热搜，其在洛杉矶的门店十分贴心地加了120%糖、150%糖、200%糖的选项。 这波操作让隔壁星巴克蒙了，也让美国年轻人狂喜，他们一边排起长队，一边在Tik Tok上掀起雪王甜度大挑战。 与此同时，另一家试图"教育"中国消费者的美国企业，却沦为反面教材。 它就是号称"人造肉第一股"的Beyond Meat（别样肉客）。 人造肉这个在互联网销声匿迹几年的品类，再次活跃在网上，竟是因为别样肉客败退中国。它近期被曝已关闭中国电商平台旗舰店，浙江嘉兴的工厂也早 已停产。 人造肉终究是一场资本的狂欢，当风口褪去，这个改变中国人饮食习惯的生意，彻底败给了现实。 资本捧红的"健康肉"， 肯德基都无法拒绝 2019年前后，人造肉这三个字的热度，远超如今的AI。 彼时，全球资本巨头争相押注，但凡和人造肉沾边的企业，都能融资拿到手软，股价也一路狂飙。 权威机构的预测更是疯狂：2035年，人造肉将占据全球肉类市场超两成份额，规模达到三千多亿美元。 在这股狂潮中，最耀眼的明星就是别样肉客。 2009年，密苏里大学两位教授研发出一款冷冻素鸡柳配方，口感与质地已非 ...

Core Viewpoint - The artificial meat industry is experiencing a dramatic cycle from capital enthusiasm to rapid decline, exemplified by Beyond Meat's withdrawal from the Chinese market and significant operational challenges globally [4][7]. Company Overview - Beyond Meat, founded in 2009, was one of the earliest plant-based meat companies in the U.S. and gained significant capital interest, attracting high-profile investors like Bill Gates and Leonardo DiCaprio [4][10]. - The company expanded into China in 2020, establishing two factories in Jiaxing, aiming to become a leading plant-based meat producer [6][11]. Market Performance - Since 2022, Beyond Meat has faced continuous revenue declines and increasing losses, with stock prices plummeting nearly 97% from their peak [5][7]. - The company's revenue figures from 2022 to 2024 were $419 million, $343 million, and $326 million, with corresponding losses of $366 million, $338 million, and $160 million [7]. Challenges in China - Beyond Meat's initial success in China included partnerships with major brands like Starbucks and KFC, but the company has now closed its flagship e-commerce store and halted production in Jiaxing [6][7]. - The decision to exit the Chinese market was preceded by a board-approved plan to suspend operations and reduce the workforce by 95% [7]. Industry Trends - The broader plant-based meat industry is facing significant challenges, with other companies like Impossible Foods also experiencing layoffs and market struggles [13]. - The decline in interest from investors is evident, with global venture capital investment in plant-based meat companies dropping by 64% in 2024 [15]. Consumer Sentiment - A report indicated that approximately 74% of Chinese consumers do not plan to repurchase plant-based meat products, primarily due to taste and high prices, which are 82% higher than traditional meat [14][15]. - The core consumer base for plant-based meat remains limited to niche groups such as vegetarians and fitness enthusiasts, which hinders market expansion [15].

Core Insights - The plant-based meat industry is experiencing a dramatic cycle from capital enthusiasm to a rapid decline, exemplified by Beyond Meat's recent exit from the Chinese market [1][10] - Beyond Meat has closed its flagship e-commerce store in China and halted production at its factory in Jiaxing, signaling a clear withdrawal from the market [1][3] - The company's struggles reflect broader challenges within the plant-based meat sector, with significant revenue declines and a nearly 97% drop in stock price from its peak [1][4][10] Company Overview - Beyond Meat, founded in 2009, was one of the first plant-based meat companies in the U.S., attracting significant investment from high-profile figures like Bill Gates and Leonardo DiCaprio [1][8] - The company expanded into China in 2020, establishing two factories in Jiaxing, aiming to become a leading player in the plant-based meat market [3][4] - Initial success included partnerships with major brands like Starbucks and KFC, but the company has faced declining sales and increased losses since 2022 [3][4] Financial Performance - Beyond Meat's revenue from 2022 to 2024 showed a downward trend: $419 million in 2022, $343 million in 2023, and projected $326 million in 2024, with corresponding losses of $366 million, $338 million, and $160 million [4] - In the first three quarters of 2023, the company reported $214 million in revenue, a 14.37% year-over-year decline, and a net loss of $193 million [4] - As of December 15, 2023, the stock price was $1.04 per share, with a market capitalization of $472 million, down from a peak of $15.3 billion [4][10] Industry Context - The plant-based meat sector is facing widespread challenges, with many companies, including Impossible Foods, also experiencing layoffs and operational cutbacks [10][11] - The overall market for plant-based meat is small, with a limited consumer base primarily consisting of vegetarians and health enthusiasts, which hinders broader market expansion [12] - Key barriers to growth include poor taste perception among consumers, high prices (82% more expensive than traditional meat), and a lack of widespread appeal [12][13] Investment Trends - Investment in plant-based meat companies has significantly declined, with a 64% drop in 2024 and a 40% further decline in cultivated meat investments [13] - Despite the current downturn, the long-term potential for plant-based meat remains, contingent on achieving a balance between price, taste, and commercial scalability [13]

Core Viewpoint - The plant-based meat industry is experiencing a dramatic shift from capital enthusiasm to a rapid decline, exemplified by Beyond Meat's recent closure of its flagship e-commerce store in China and the shutdown of its factory in Jiaxing, signaling a potential exit from the Chinese market [3][4][9]. Company Overview - Beyond Meat, founded in 2009, was one of the earliest plant-based meat companies in the U.S. and gained significant capital interest, attracting notable investors like Bill Gates and Leonardo DiCaprio [3][16]. - The company expanded into China in 2020, establishing two factories in Jiaxing with ambitions to become a leading plant-based meat producer globally [6][7]. Financial Performance - Since 2022, Beyond Meat has faced continuous revenue declines and increasing losses, with stock prices plummeting nearly 97% from their peak [8][5]. - The company's revenues from 2022 to 2024 were reported at $419 million, $343 million, and $326 million, with corresponding losses of $366 million, $338 million, and $160 million [8][21]. Market Challenges - The closure of Beyond Meat's operations in China reflects broader struggles within the plant-based meat sector, where companies like Impossible Foods have also faced layoffs and operational challenges [19][20]. - The plant-based meat market is hindered by three main issues: poor taste perception among consumers, high prices compared to traditional meat (82% higher), and a limited consumer base primarily consisting of vegetarians and fitness enthusiasts [21][22]. Investment Trends - Investment in plant-based meat companies has significantly declined, with a reported 64% drop in 2024, following a 75% decrease in cultivated meat investments [22].

Core Insights - Beyond Meat, once hailed as the "first stock of plant-based meat," has exited the Chinese market within five years of its entry, marking a significant retreat for the brand [3][19] - The company faced challenges including high product prices, poor consumer reception, and a lack of taste compared to traditional meat, leading to a decline in sales and eventual withdrawal from the market [11][12][19] Company Overview - Beyond Meat entered the Chinese market in 2020, establishing a factory in Jiaxing, Zhejiang, and partnering with major food chains like Starbucks and KFC to promote its products [8][10] - Despite initial enthusiasm and significant investment, the company reported a decline in revenue from $4.19 billion in 2022 to $3.26 billion in 2024, with cumulative losses reaching $8.64 billion [14][19] Market Dynamics - The plant-based meat sector saw a surge in interest and investment from 2019 to 2020, with a 500% increase in investment events related to plant-based companies in China [5][6] - However, as consumer interest waned and product quality issues became apparent, investment in the sector decreased significantly, leading to the closure of several companies [13][14] Consumer Reception - Consumer feedback highlighted that Beyond Meat's products were priced higher than traditional meat, with a 454g pack of plant-based beef mince priced at 199 yuan, compared to 140 yuan for real beef [11][12] - A significant 74% of consumers indicated they would not repurchase plant-based meat products, primarily due to taste and texture issues [12][19] Industry Challenges - The plant-based meat industry is currently facing a "winter" phase, with many companies struggling to secure funding and maintain operations [13][14] - Experts suggest that the industry must focus on improving product quality, establishing standards, and finding a sustainable market position to survive [17][18][19] Future Outlook - Despite current challenges, there is potential for growth in the plant-based meat sector, particularly if companies can innovate and meet consumer expectations for taste and price [17][18] - The global market for plant-based meat is projected to grow significantly, with estimates suggesting a market size of approximately $7.6 billion in 2024, expanding to about $38.5 billion by 2033 [18]