US – American alternative proteins company Impossible Foods is cutting prices by 20% for 17,000 US groceries at a time when its sales are at an all-time high.
The price cuts are in an effort to drive more consumers away from animal-derived foods.
Impossible Foods plans to keep lowering prices as it achieves new production records and economies of scale.
“The ultimate goal is to undercut the price of ground beef from cows,” the company said in a statement.
Following the price cuts, Impossible Foods said that it is strongly encouraging grocery stores, supermarkets and retailers that sell Impossible Burger to pass the savings to consumers, as soon as possible.
Apart from its stores in the United States, Impossible Foods is also introducing similar price cuts internationally at retail stores in Canada, Singapore and Hong Kong.
The double-digit international price cuts vary by location and apply to all Impossible retail products sold overseas, exceeding 20 percent in some regions.
The latest price cut is the third double-digit reduction from Impossible Foods in less than a year.
Last month, the company cut prices on average about 15 percent for foodservice distributors that sell to restaurants.
Eliminating animal agriculture
Animal agriculture is the second largest contributor to human-made greenhouse gas (GHG) emissions after fossil fuels and is a leading cause of deforestation, water and air pollution and biodiversity loss.
Impossible Foods’ broader strategy is to reverse global warming and restore biodiversity by creating a mainstream, mass-market, consumer movement to eliminate animal agriculture.
The California based company has so far made tremendous steps towards achieving its goals.
For instance, Impossible Burger was sold in about 150 grocery stores one year ago; it’s now available in approximately 17,000 grocery stores nationwide, a massive expansion in Impossible Foods’ retail footprint.
Production has also increased sixfold since 2019, both in Oakland and at multiple plants owned by co-manufacturing partners.
“Our plan is to reverse global warming and halt our planet’s extinction crisis by making the food system sustainable. To do that, we need to make meat better in every way that matters to consumers, taste, nutrition, convenience and affordability,” says Impossible CEO and founder Dr. Patrick O. Brown.
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