Founded in 2009, Beyond Meat (NASDAQ: BYND) aimed to revolutionize the food industry by developing plant-based proteins that closely resemble real meat in taste and texture. But over a decade later, demand for these meat alternatives has seemingly hit a wall, and the company has failed to create a sustainable business model.

Will the next five years be any different, or is the company trapped on its lackluster trajectory?

Beyond Meat's business is in crisis, and its third-quarter earnings offered a snapshot of its ongoing challenges. Net revenue declined 8.7% year over year to $75.3 million, driven by a stunning collapse in the U.S. retail and food-service segments, which saw their revenue down 34% and 22%, respectively.

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Source Fool.com