Dive Brief:
- Impossible Foods is constructing a new, 60,000-square-foot factory in Oakland, CA to produce at least 1 million pounds of Impossible Burger plant-based meat per month — a 250% increase from what the company produces today, according to Fast Company.
- The Impossible Burger is now available at 11 restaurants, but the company hopes to supply 1,000 restaurants by the end of 2017.
- The "meat" is currently being produced in both a 10,000-square-foot pilot facility in Silicon Valley and a 1,500-square foot space in New Jersey.
Dive Insight:
While many food analysts are skeptical that alternative protein choices will convert meat lovers, if more plant and algae-protein products find strong flavor profiles and are available at more places, it could help the category capture more market share.
Studies consistently show that while consumers enjoy eating meat, many are looking for protein alternatives they think are healthier or more sustainable — especially millennials. Last October, Tyson Foods became the first major meat company to invest in a plant protein-based company, taking a 5% ownership in Beyond Meat. It was a savvy move by the protein giant, and a preview of where the future of protein is headed.
While Impossible Foods is more focused on bringing its “meat” to restaurants now, it’s only a matter of time before it and companies like it will aim to further embrace the grocery space. Although it costs more than conventional burgers, consumers have shown a willingness to pay more for products that are healthier and more sustainable.
The fact that Impossible Burger will have its products available at San Francisco Giants baseball games is also a great way to drum up consumer interest, which could lead to strong social media engagement and, ultimately, company growth.