This past Earth Day, two California companies known for their plant-based offerings made significant announcements that underscore the tumultuous landscape of the plant-based sector and the wider food industry at large. The first came from the Northern California-based plant-based meat giant Impossible Foods: it is opening “Impossible Ranch,” a South Carolina-based former cattle ranch that will grow crops for the ingredients used in its meaty plant-based burgers and also provide a loving home for rescue cattle. The second came from a long-standing Los Angeles restaurant chain formerly known as Sage Vegan Bistro: it is adding animal meat to the menu, and rebranding as Sage Regenerative Kitchen & Brewery.
While Sage didn’t reference finances in its announcement, the news from these institutions is representative of a much wider split in the plant-based food industry. Sales are…