市场的周期变化从不留情，人造肉行业就正在亲身经历从资本狂热追捧到迅速坠落的戏剧性周期。 近日，"人造肉第一股"Beyond Meat（中文名"别样肉客"）被曝已关闭其在中国的电商平台旗舰店，且 公司位于浙江嘉兴的工厂也已停产。这一系列动作被市场普遍解读为，是这家美国公司退出中国市场的 明确信号。 成立于2009年的别样肉客，是美国最早成立的一批植物人造肉公司之一。凭借"环保革命"与"科技理 想"的鲜明标签，公司在创立后的十余年里备受资本青睐——自2012年起便以每年一轮的稳定节奏一路 融资到G轮，投资方名单中不乏比尔·盖茨、莱昂纳多·迪卡普里奥等名人身影。 2020年，风头正盛的别样肉客将业务版图拓展至中国，在嘉兴建立了两座工厂。当时公司雄心勃勃，宣 称其中一座将成为全球规模最大、技术领先的植物肉生产基地之一。然而五年过去，现实并未如预期展 开。 中国市场受挫，仅仅是别样肉客全球困境的一个缩影。自2022年起，公司便陷入连续多个季度的营收下 滑与亏损扩大的泥潭，股价较历史最高点更是暴跌近97%。 昔日的"资本宠儿"，如今已陷入严峻的经营危机之中。 股价跌97%，市值仅剩4.72亿美元 事实上，在此之前别样肉客 ...

将投中网设为"星标⭐"，第一时间收获最新推送 投资人对"人造肉"不感冒了。 作者丨 王满华 来源丨 投中网 市场的周期变化从不留情，人造肉行业就正在亲身经历从资本狂热追捧到迅速坠落的戏剧性周期。 近日，"人造肉第一股" Beyond Meat （中文名"别样肉客"）被曝已关闭其在中国的电商平台旗舰店，且公司位于浙江嘉兴 的工厂也已停产。这一系列动作被市场普遍解读为，是这家美国公司退出中国市场的明确信号。 成立于 2009 年的别样肉客，是美国最早成立的一批植物人造肉公司之一。凭借"环保革命"与"科技理想"的鲜明标签，公司 在创立后的十余年里备受资本青睐——自 2012 年起便以每年一轮的稳定节奏一路融资到 G 轮，投资方名单中不乏比尔·盖 茨、莱昂纳多·迪卡普里奥等名人身影。 2020 年，风头正盛的别样肉客将业务版图拓展至中国，在嘉兴建立了两座工厂。当时公司雄心勃勃，宣称其中一座将成为全 球规模最大、技术领先的植物肉生产基地之一。然而五年过去，现实并未如预期展开。 中国市场受挫，仅仅是别样肉客全球困境的一个缩影。自 2022 年起，公司便陷入连续多个季度的营收下滑与亏损扩大的泥 潭，股价较历史最高点更是暴跌 ...

而在查看别样肉客官网并根据提示点进天猫旗舰店时则显示"很抱歉，您查看的宝贝不存在，可能已下架或者被转移"。 公开资料显示，别样肉客母公司Beyond Meat成立于2009年，总部位于美国加州埃尔塞贡多，是全球最早一批专注植物肉研发和生产的公司，2019年在纳斯 达克挂牌上市，产品包括植物牛肉饼、植物猪肉、植物鸡肉等。 近日蓝鲸新闻报道称，天猫"别样肉客官方旗舰店"首页弹出提示"本店拟于2025年11月27日自主终止经营"，其拼多多旗舰店页面则显示"服务器错误"。 2022年别样肉客入驻天猫，距离现在被曝关店只过去了3年时间。而植物肉热度衰退或许早在别样肉客的业绩上有所体现，已经连续多年处于承压状态。 财报显示，2022年-2024年，别样肉客分别实现营业收入4.19亿美元、3.43亿美元、3.26亿美元，分别实现净亏损3.66亿美元、3.38亿美元、1.60亿美元。截至 2025年9月27日，别样肉客的三季度报告显示，其前三季度实现营业收入2.14亿美元，同比减少14.37%；实现净亏损1.93亿美元，较去年同期净亏损1.15亿美 元进一步扩大。 面对业绩压力，别样肉客给出的解决办法是"节流"。今年2月，别 ...

Core Insights - Beyond Meat, known as the "first plant-based meat stock," has terminated its Tmall flagship store operations as of November 27, 2023, and its Pinduoduo store is no longer selling any products [1][11] - The company had previously announced plans to suspend its operations in China by the end of June 2023, including a significant reduction of its workforce by 95% [3][9] - The decline in interest for plant-based meat in China has led to major partners like Starbucks, KFC, and Nestlé ceasing their plant-based meat offerings [12][16] Company Operations - Beyond Meat was founded in 2009 in California and went public on NASDAQ in May 2019, with an initial stock price surge of 163%, reaching a market cap of approximately $3.83 billion [4] - The company initially viewed China as a strategic market, launching products in collaboration with Starbucks in April 2020 and expanding partnerships with KFC and other brands [6][8] - Despite early optimism, the company announced in February 2025 that it would officially pause operations in China, citing the need to improve profit margins [9] Market Trends - The plant-based meat market in China has seen a significant decline, with major brands like Starbucks and KFC no longer offering plant-based products [12][18] - Beyond Meat's revenue has been on a downward trend since 2022, with projected revenues of $465 million in 2021, dropping to $327 million in 2024, and a net loss of $193 million in the first three quarters of 2023 [12] - The company's U.S. market also experienced a decline, with retail channel revenues down 18.4% and food service revenues down 27.3% in the latest quarter [12][13] Industry Challenges - The overall demand for plant-based meat in China is weak, as consumers still prefer traditional meat options, making it difficult for plant-based alternatives to gain traction [18] - Other major companies, including Nestlé and Unilever, have also scaled back or exited their plant-based meat initiatives in China, indicating a broader trend of reduced interest in the category [16][18]

Core 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].

Core Viewpoint - Beyond Meat, known as the "first stock of plant-based meat" and previously backed by Bill Gates, has quietly closed its flagship stores on major e-commerce platforms in China, indicating a significant retreat from the market [1][19]. Company Overview - Beyond Meat was founded in 2009 and went public in 2019, experiencing a stock price surge of 163% on its debut. It has notable investors including Bill Gates and Leonardo DiCaprio [3][5]. - The company launched its first end-to-end production facility outside the U.S. in Jiaxing, Zhejiang, in 2021, aiming to cater to the Chinese market with localized products [5][10]. Market Performance - As of November 30, 2023, Beyond Meat's official flagship store on Tmall is no longer searchable, and its Pinduoduo store is also non-functional, indicating a complete withdrawal from the Chinese market [1][3]. - The company has faced declining revenues, with a drop from $419 million in 2022 to $326 million in 2024, and a cumulative loss of $864 million during the same period [10]. Product Pricing and Consumer Perception - Beyond Meat's products are priced above local alternatives, with plant-based meat products costing over 60 yuan per kilogram, comparable to domestic beef prices, which has deterred consumers [3][10]. - Consumer feedback highlights dissatisfaction with the taste and texture of plant-based meat, with many describing it as inferior to real meat [11][13]. Industry Trends - The plant-based meat sector in China has seen a decline in investment and interest since late 2021, with many startups facing financial difficulties and some brands going bankrupt [11][16]. - Despite the challenges, the market for plant-based meat in China is projected to grow, with estimates suggesting a market size of approximately $7.6 billion by 2024, potentially reaching $38.5 billion by 2033 [16].

曾获比尔·盖茨投资，高调进军中国市场的"人造肉第一股"别样肉客（Beyond Meat），如今在各大电商平台的旗舰店已悄然关闭。 截至11月30日，天猫"别样肉客官方旗舰店"已无法搜索到，此前其店铺首页曾提示："本店拟于2025年11月27日自主终止经营。"与此同时，拼多多旗舰店 也已无法正常显示，只剩下"服务器错误"。 | 别样肉害旗舰店 | TMALL天猫 | 搜天猫 | 品牌直销 D | | --- | --- | --- | --- | | y | | | | | ... | | | | | 店铺终止经营公告 | 本店铺拟于2025年11月27日自主终止经营 | | | | 润 | | | | 据九派财经报道，一名人造肉经销商告诉记者，别样肉客在中国嘉兴的工厂已经停产，目前售卖的是此前的库存和进口自美国工厂的产品，包括植物基汉 堡牛肉饼、肉丸、意大利面肉酱、煎饺等。 记者拨打别样（嘉兴）食品有限公司官方电话，提示音称"您拨打的用户尚未登录"。 对于其在中国市场的失利，上述经销商告诉记者，除了素食主义群体市场较小，别样肉客产品价格还要高于国产人造肉品牌，1公斤60元以上，接近国内 牛肉的价格。此外，植物 ...

Core Viewpoint - Beyond Meat, known as the "first stock of plant-based meat," has quietly closed its flagship stores on major e-commerce platforms in China, indicating a significant retreat from the market [1][3]. Company Overview - Beyond Meat, founded in 2009 and listed on NASDAQ in 2019, has prominent investors including Bill Gates and Leonardo DiCaprio. Its main products include plant-based burgers and other meat alternatives [3][5]. - The company entered the Chinese market in 2020, establishing a factory in Jiaxing, Zhejiang, and launched products tailored for Chinese consumers [5][6]. Market Performance - As of November 30, 2023, Beyond Meat's official flagship store on Tmall is no longer searchable, and its Pinduoduo store is also non-functional [1][3]. - The company has faced declining revenue, with a drop from $419 million in 2022 to $326 million in 2024, and a cumulative loss of $864 million during the same period [11]. Product Pricing and Consumer Perception - Beyond Meat's products are priced higher than local alternatives, with plant-based beef priced over 60 yuan per kilogram, comparable to domestic beef prices [3][8]. - Consumer feedback indicates dissatisfaction with the taste and texture of plant-based meat, with many describing it as inferior to real meat [13][15]. Industry Trends - The plant-based meat sector in China has seen a decline in investment and interest since late 2021, with many startups facing financial difficulties or shutting down [12][16]. - Despite the challenges, the market for plant-based meat is projected to grow, with estimates suggesting a market size of approximately $7.6 billion by 2024, potentially reaching $38.5 billion by 2033 [16]. Financial Status - As of November 28, 2023, Beyond Meat's stock price has plummeted to $0.982 per share, with a total market capitalization of only $445 million [17].