Beyond Meat revenues: overview
- Beyond Meat continues facing declining revenues across key markets
- International retail net revenues rose 16.5%, led by Europe and Canada
- Germany, Canada and the UK remain important growth regions
- US demand remains weak amid category pressures and distribution declines
- Revenue and volume declines are slowing, signalling possible stabilisation
Beyond Meat’s woes are not over yet.
The US plant-based meat company has been seeing consistently falling revenues and sales for more than a year, especially in foodservice, where it saw declines of more than 30% last quarter.
Yet the company’s struggles are being offset by solid growth in retail internationally, especially in Germany, Canada and the UK.
Europe and Canada experience retail growth
International retail, unlike foodservice globally and retail in the US, actually saw growth – in fact, a 16.5% increase in net revenues, and an 8.2% increase in volume of products sold – bucking the trends seen elsewhere.
While both net revenue and volumes saw a slight increase in international retail in Q1, this is far more substantial in the second quarter.
Canada and Europe, in particular Germany and the UK, are strong growth areas for the company, explains CEO Ethan Brown.
Brown believes that the success in these regions, in particular in Europe, is due to a lower presence of campaigns against plant-based foods.
He also suggests that awareness of the links between climate change and food is stronger among European consumers than consumers in the US, and that they take the climate crisis more seriously.
The company plans to invest in growth in these regions, in order to take advantage of its success there.
Beyond Meat Q2 in numbers
- Net revenues declined by 8.2% year-over-year
- Gross margin was 8.5%
- Volume of products sold decreased by 9.5% year-over-year
- In US retail, net revenues decreased by 9.9%, and volume of products sold decreased by 5.7%
- US retail net revenues decreased by 9.9%, volume of products sold decreased 5.7%
- US foodservice net revenues decreased by 27.6%, volume in products sold decreased 27.4%
- International retail net revenues increased by 16.5%, volume of products sold increased by 8.2%
- International foodservice net revenues decreased by 16%, volume of products sold decreased by 20.4%
Decline abounds elsewhere, but is slowing
The company continues to struggle elsewhere, particularly in the US.
There are some signs of stabilisation there, says CEO Brown, but the plant-based category continues to see pressure from what he describes as ‘misinformation’ campaigns.
Alongside weak category demand, points of distribution in the US also decreased.
Meanwhile, foodservice continues to see the biggest declines.
This may be in part due to the fact that when people go out, they want to treat themselves, suggests Clive Black, director of investment banking group Shore Capital. Many restaurants are still focused on meat, drawing consumers away from alternatives.
Nevertheless, Beyond Meat’s decline is slowing.
While net revenue is still declining, this 8.2% decline is neither as steep as Q1’s 15.3%, nor as sharp as Q2 2025’s 19.6%. The brand’s losses are slowing worldwide.
Furthermore, volumes of products sold only saw a 9.5% decline, compared to Q1’s 19.5% and Q2 2025’s 18.9%.
Looking forward, the company expects net revenues of between $60m and $65m in Q3, which would be a year-over-year decline of between 7.4% and 14.5%. In other words, the declines will continue, but they won’t reach the level of those in past quarters.
The plant-based brand is not out of the woods yet. It is still facing falling revenue and sales, and must still contend with the headwinds associated with the plant-based meat category. But with some retail growth in Europe and Canada, and slowing declines elsewhere, the company may have reasons to be optimistic.
