Impossible Foods and Innovative Leadership
Encouraging pricing news from California-based Impossible Foods maker of the plant-based Impossible Burger. It announced plans, for the second time in a year, to cut prices by 15% for its USA-based foodservice distributors and reduce prices for distributors in Canada, Singapore, Hong Kong & Macau. It's asking savings be passed to consumers.
The #covid19 pandemic galvanised what was already an increasing demand for plant-based meat alternatives, with recognition by the public a change in diet globally is not only healthy but also paramount for #sustainable living.
#innovation has come from Impossible Burger, Beyond Meat, Quorn Foods, Nestlé, the latter which, in October, launched in Switzerland a brand called 'Vuna,' a vegan tuna fish. It's spec'd to roll out internationally this year.
According to Ipsos MORI, c 5% of the world population is vegetarian; 3% vegan; 3% pescatarian; 14% flexitarian, where only occasional meat or fish is consumed. Further, the market is growing: conservative estimates suggest c. 11% CAGR over the next five years.
Impossible Burger and these other brands show power in driving sustainable business models...and a sustainable #future. Here's to more #leadership innovations for 2021 and beyond.
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