Beyond Meat (BYND)
Beyond Meat demand surged in previous years, propelled by a major shift in consumer behavior: plant-based protein demand.
However, this surging demand has stalled.
Consumer mentions of buying, trying, and consuming plant-based protein sources fell -20% in the last quarter vs. prior year.
While mention volume remains higher than levels recorded prior to 2018, it is a stark shift in growth...which is exactly what Beyond Meat is counting on: new plant-based meat-eaters.
The chart below reveals a significant decline in demand for Beyond Meat products: -55% YoY in the last 90 days.
Last quarter, $BYND shares tumbled after a disappointing report revealed a flailing foodservice segment and confirmed elevated "stockpiling" activity observed in Q2 was short-lived.
Looking ahead, Beyond has strategic partnerships underway with McDonald's, Taco Bell, and even PepsiCo. But these relationships aren't moving the needle for the company right now.
We'll be watching consumer demand closely as new products are launched... but for now we aren't seeing signs of improvement.