Beyond Meat sales slumped because people are eating less fake meat, and the company says it gets why

• Beyond Meat's sales have slumped. Q4 revenues were down 20.6% and it posted a loss of $366 million in 2022.
• CEO Ethan Brown attributed it to "persistently high inflation" and trading down by consumers.
• Brown said the industry's biggest obstacles are taste, awareness of health benefits, and price.

Beyond Meat's sales slumped at the end of 2022 as consumers turned away from plant-based meat substitutes.

Net revenues were down $20.7 million, or 20.6%, in the quarter to December 31 year-over-year. The company said it sold around 3,300 fewer pounds of its fake meat products over the time period, a drop of about 17%.