Impossible Foods said on Tuesday it would cut the prices of its faux meat patties by 20% at U.S. grocery stores as the plant-based protein maker ramps up production with a larger plan to eventually undercut ground beef prices.

Impossible Foods, the maker of the plant-based Impossible Burger, and rival Beyond Meat Inc have been the leaders in plant-based alternatives over the past two years as consumers, worried about their health, environmental impact and animal welfare, look to broaden or shift from chicken, pork and beef-based diets.

Demand for plant-based meat also rose during the pandemic after beef and pork producers shut many meat plants to curb the rapid spread of the coronavirus outbreak.

Source

Back to Latest