05 Mar 2020
Impossible Foods announced on Tuesday that it would be reducing prices to distributors by 15% on average, starting what some analysts predict could start a plant-based price war.
The move follows increasing demand for Impossible Foods products, as the brand has secured a number of Impossible Burger deals for chains such as Burger King and Red Robin as well as in the Walt Disney Co resorts, theme parks and cruise ships.
“Our stated goal since the founding of the company has always been to drive down prices through economies of scale, reach price parity and then undercut the price of conventional ground beef from cows,” Chief Executive Officer Patrick Brown said.
“Today’s price cut is just the latest step toward our goal of eliminating animals in the food system.”