News Food
Impossible Foods lowers the price of meat substitutes again
Impossible Foods has again lowered the wholesale prices of its own meat substitutes. In this way, the American food company wants to ensure that 'price' cannot be the determining factor in the choice between animal and/or vegan products.
Impossible Foods has therefore again reduced the wholesale prices of its own products. Many producers of meat substitutes, such as Impossible Foods, have the ambition to bring the price for meat substitutes equal to (or even lower than) the price for animal products. In this way they want to convince consumers to choose vegan products after all. This is a decrease of approximately 15%. At the beginning of March 2020, the price also fell by a similar percentage.
Production has grown significantly
Incidentally, the price reduction does not only apply in the United States, but it will reportedly be extended to Canada, Hong Kong and Singapore soon. The fact that Impossible Foods can continue to lower its wholesale price so often is due to the fact that the American company has been hitting production records for months. Production has increased sixfold since 2019. For beef patties, the price in the United States averages $5,32 per pound (about $8,80 per kilo), while the reduced wholesale price for an Impossible Burger - the company's trademark - is now $6,80er pound (€11,20 per kilo).
Not only Impossible Foods is fully reducing wholesale prices, competitor Beyond Meat has also been active in recent period with price reductions for distributors. Here, too, the growing market value (+67% to more than $7,9 billion) is one of the reasons for continuing with price reductions and 'removing doubts from the consumer'.
Kimberly Baker
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