- Meat-free meat can taste just like the real one, and investors eat over what some predict can be an alternative meat market of $ 35 billion.
- After a successful test competition in Burger King, Impossible Foods goes nationwide at the fast food giant later this year with its meat-free Whopper.
- Competitor Beyond Meat had the most successful IPO so far this year, the stock price rose 163% in just a few weeks.
Gone are the days when vegan meat was emptied as tasteless – a victim of vegetarians served in the service of a major environmental cause. Today's meat-free meat tastes just like the real thing, can satisfy the most bloodthirsty of predators, and is here to stay.
Afterin a Burger King location in April, plant-based food company Impossible Foods in more than 7,000 places.
When the competitor's plant-based replacement company Beyond Meatthe share price increased 1
Investors, celebrities and consumers take all notice. Impossible Foods announced Monday that it raised $ 300 million in its latest round of private funding, the largest ever for a plant-based meat company, according to Good Food Institute. The Silicon Valley startup has increased around $ 750 million since its founding in 2011.
It also has a number of health-conscious and environmentally-minded celebrity investors, including Alexis Ohanian, Jaden Smith, Jay-Z, Katy Perry, Serena Williams and Zedd. While Lee said Impossible Foods didn't pay for promotions, some celebrities have gone out of their way to give the food company an exclamation, such as Katy Perry, who turned into an impossible Burger costume at Met Gala this year.
Despite the fact that Beyond Meat's success comes public, Impossible Foods CFO insisted David Lee on Wednesday to CBS News. The company has no plans to announce an IPO, and instead focuses on trying to meet the demand for the burden of the Burger King expansion.
"Frankly, we are not rushing to become public. We are very, very focused on serving our meat eaters well and increasing our supply," Lee said.
The company plans to employ 50 new employees to its Oakland, California, plant, which already employs 70 full-time employees, to help meet the growing demand.
Meatless meat a sizzling hot industry
Investor interest in meatless alternative companies such as Beyond Meat and Impossible Foods mirrorsin the United States of the $ 16 billion invested in US plant-based meat, Egg and dairy companies in recent decades, $ 13 billion in 2017 and 2018 alone, according to the Good Food Institute.
"Investors and entrepreneurs capitalize on a global shift in the way meat is produced Market opportunities here are massive," said Bruce Friedrich, CEO of Good Food Institute, in a statement.
Alternative meat companies hope to replicate the success of non- The dairy industry, which has grown to around 13% of the milk market by positioning itself as the healthier option. Beyond Meat said in its filings that the vegan meat market can also grow to about $ 35 billion of the $ 250 billion domestic meat industry.
That means that impossible food and beyond meat can become leaders in a fast-growing and highly competitive space, for example, feathered giant Tyson has invested in Jerusalem-based Future Meat Technologies and lab-grown meat producer Memphis Meats.
"There will be more winners," predicted Lee.
Environmental conscious, but is it good to eat?
Part of Impossible Foods and Beyond Meats success comes from a to market their product to meat lovers, as opposed to vegans, which make up only 5% of Americans, according to Beyond Meat in the SEC archives.
Both companies have gone in considerable lengths and used great capital to ensure that their beef patties mimic the real thing in taste and texture. Beyond meat, which makes the pea proteins the basis of its products, also uses bait juice to achieve the appearance of the meat.
However, Impossible Foods isolated an iron-rich molecule called "heme" from soup plants to achieve the fleshy, fleshy taste of meat, famous for making its veggie patties "bleed".
However, some health professionals criticize treated alternative burger products for not being so health conscious. While impossible food CFO Lee said vegan patties are environmentally friendly and use less soil, less water and produce less greenhouse gases than animal products, some nutritionists say they are not necessarily healthy for consumers.
For dining options that may appear To make the switch to plant-based for health reasons, such as reducing salt or fat intake, the Impossible Burger is not particularly healthier. It has zero cholesterol and about the same saturated fat as a traditional beef patty, but more than four times as much sodium.
"If you want a plant-based alternative that has the taste of the burger, the Impossible Burger is your choice – but it comes with similar amounts of fat and calories," said Connie Diekman, director of university industry at Washington University. in a statement when the patty was tested in St. Louis Burger King locations in April.
"But if you try to increase the amount of plant protein in your diet, this should only be part of a larger portfolio of alternatives," she continued.
Diekman said that bean burgers are usually a healthier alternative with more fiber, nutrients and less fat.