COVID-19 has a silver lining for Impossible Foods

Restaurant customers fell off the map, but that spurred Impossible to turbocharge

Curated via Twitter from CNET News’s twitter account….

"Our mission is to completely replace animals as a food technology by 2035," says Brown, claiming that grocery sales data now indicates that a large majority of Impossible purchases bump animal meat off the checkout receipt.

"95% of all our business was in restaurants in March, so we accelerated a plan we already had to roll out in grocery stores," says Pat Brown, founder and CEO of Impossible Foods.

Ivana Raca, executive chef at Ufficio in Toronto, will showcase Impossible ground burger in agnolotti as part of Impossible’s move to enter the Canadian market, but retail is carrying the day until restaurants normalize.

Retail displays like this at a Wegman’s market have been an accelerated emphasis by Impossible Foods since the COVID-19 pandemic rewrote the restaurant scene that had been 95% of the company’s business.

Further evidence of that swing is seen in Impossible’s announcement of availability in Canadian grocery and restaurants, along with Target’s soft-launch of Impossible’s products.

Expansion into Canada — and into Target stores — is part of expanded retail plan, Impossible tells CNET Now What.

The prospect of plant-based meats fully entering the mainstream comes with an interesting side story: Growth isn’t about COVID spawning a new wave of vegans and vegetarians, but changing the inertia among meat eaters.

Entering 2020, plant-based everything was the #1 trend in food and both burgers and sausages within the sector seemed ready for their Tesla moment: A big swing to the mainstream to prove the doubters and shorters wrong.

Impossible CEO Pat Brown shared many more updates on the state of his business with CNET’s Brian Cooley in the video above.

Link to original article….

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