We asked industry experts if these are the growing pains of a new sector, the normal gyrations of the free market, or (maybe) the end of alt-proteins as we know them.
Quite a few high-flying food-tech CEOs have seen a hard landing in reality over the last several quarters.
Beyond Meat, Impossible Foods and Heura Foods all have made workforce cuts in the last nine months, while JBS shuttered its entire Planterra operation in 2022. Even legacy brand Kellogg’s was considering selling off its plant-based business recently — and it did deep-six the underperforming Incogmeato burger.
Amid the nasty headlines, though, there’s a second,…