Published: 10-Jan-2020 | Published By: Market Research Store
Impossible Foods has become popular in the food industry right from the time it used heme molecules from the plants to mimic the blood present in the animal meat. The idea of using plant-based components is found to help add flavors to the burger just like any meat would. Recently, Impossible Foods had decided to take a next big step and have it new sustainable, plant-based proteins be served to the public in the form of the latest version of pork—ground pork and sausages. Moreover, as pork is one of the most-eaten animal products in the world there is no doubt that plant-based pork will gain as much popularity as the other plant-based meat.
Impossible has already started setting up shops, lining food truck, and switching to promotional aspects to persuade the public to taste the new product that consists of a steamed bun, a lettuce wrap, a meatball, and some noodles. Some of the selected food outlets including Burger King in the US will have the primary access to the new pork product before appearing elsewhere. It may sound mindboggling but the company has decided to launch the new product at a consumer electronics show this year. According to the CEO and founder of Impossible Foods Pat Brown, Impossible is the only food exhibitor this year. Brown had the company set up to basically address the issues of over slaughtering of animals, increasing greenhouse gas emissions, and disturbing natural ecosystems for farming land creation that were found to have negative impacts on Earth.
Impossible has been able to carve out a name for itself in the animal-driven food industry and raise approximately $777 Million so far with help of investors including tech firms—Temasek, Khosla, GV, Horizons Ventures, along with host of celebrities. Currently, the company values around $4 Billion and it plans to double its revenue annually using the new plant-based meat. Pork usage in the US compared to beef and chicken may be low but on a global scale, it accounts for 38% of all meat production. Asia, especially China, has shown a strong demand for pork from 1990. However, as the new idea requires more capital and time, Impossible is more focused on developing its business by not selling up or licensing its IP on isolation and use of soy leghemoglobin.
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