As covid19 rages on, consumers have started looking for cleaner label, safer foods. As meat production slows down, plant-based companies are experiencing a spike in demand. Alternative meat leader Impossible Foods is expanding into 777 more stores across the US, according to Bloomberg.
“We have to be able to go where the food consumers are going,” – Impossible Foods founder Patrick Brown.
Although the startup has until now focused much of its attention on foodservice like Burger King and Disney Theme Parks, with lockdown in full swing consumers are cooking more at home and supermarket distribution is now essential. In Impossibles case even more so as their competitor Beyond Meat has already rolled out a retail expansion plan.
Just last month Impossible reported it had secured $500mil in funding in order to survive in a more volatile macroeconomic environment, which includes the current covid19 outbreak. Although the restaurant industry has been hit hard, they arent planning on slowing down production now their supermarket supply could increase.
Other plant-based companies are also rolling out plans to increase production and launch new offers. MGP Ingredients, creator of plant-based proteins and starches recently revealed its ProTerra line of textured proteins. The new ProTerra line includes a new textured pea option.
Farm Rich is also launching a new line of vegetarian friendly products, introducing its plant-based Garden Inspirations line at big retailer Kroger. It includes appetizers, snacks, and meals — like its Meatless Meatballs and Plant-Based BBQ Sliders.
Have you heard of any other plant-based companies offering new products at this time? Comment below!