Olen: Falling sales suggest plant-based meat may be all hat, no cattle

The future of plant-based meat was supposed to be cooked to perfection. In recent years, corporate and venture capital funds poured into the space. Fast-food giants such as KFC and Burger King raced to roll out offerings. The meme stock crowd rallied around Beyond Meat. Sales were growing. It would appeal to vegans missing meat! Even better, it would find a following with meat-eaters looking to cut back! It’s now clear that the hype got ahead of a sometimes less than tasty reality. Sales of plant-based meats in the United States are down by more than 10 percent from this time last year. The issue is basic: The problems fake meat were meant to solve — from the climate impact of industrial farming to the health impacts of meat — are all too real, but the solution it offers appeals to far fewer consumers than expected.