During the pandemic, plant-based meat consumption and media coverage exploded. Now, a host of trend pieces decry its demise. That shift is no organic accident.
TL;DR: the meat industry's misleading messaging campaign + lobbying
I believe a lot of it also is the price, as someone who has worked in the plant based meat industry for years. It wouldn't be hard to design a product that is comparably priced with meat but it is seen as a premium space where more money can be charged so companies do charge more, from the finished food manufacturers to the ingredient suppliers. Also hard to compete price wise with meat subsidies, in the US anyway
Yes, price is an important factor. Especially because people who are regular meat eaters think that by becoming vegan that they'll be spending their meat money on fake meat, thus becoming poorer. This is generally not true, because once you learn to cook vegan you'll not be using fake meat a lot, but it sure does cause a hurdle to new vegans.