Impossible Foods cuts retail price

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Impossible Foods is reducing the price of its vegetable meat to compete with the price of beef.

The food tech brand announced last week that it would reduce the price of its meatless patties by 20% in U.S. grocery stores.

It will also implement similar discounts at retail stores around the world, such as Canada and Hong Kong. This is Impossible’s third double-digit price reduction in the past 12 months.

The suggested retail prices for the Impossible Burger are now $ 5.49 for the patties and $ 6.99 for a 12-ounce pack.

Price parity with ground beef

Dennis Woodside is the president of Impossible Foods. He said MarketWatch: “We want to eventually achieve price parity with the prices of minced meat.

“If anything during the pandemic, consumers have shown an increasing hunger for our product because they cannot go to restaurants and they are more health conscious. Today’s price drop is just our latest, not the last.

Milk impossible

Last year, the brand revealed it was working on a vegan alternative to cow’s milk.

The dairy-free product does not yet have a name or release date (although some reports predict it will be called Impossible Milk).

According to Impossible Foods, the product is not necessarily an alternative to plant-based milks, but rather is aimed at consumers who prefer cow’s milk. The product will offer the same flavor, mouthfeel, applications and texture, but without involving the cows.

Liam is the former Associate Editor of Plant Based News. He has written for The Independent, Huffington Post, Attitude Magazine, and more. He is also the author of “We are worried about him”. More from Liam Giliver

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