Impossible Foods CEO Pat Brown is candid about his goal to eliminate the meat industry. He wishes, however, that other companies in the plant-based meat sector would contribute more to this mission. In a conversation with Food Dive, he noted that the surge of companies exploring plant-based options indicates growing momentum for alternatives to meat, even among those not actively seeking to make the switch. He recognized that achieving the right balance of taste, nutrients, convenience, affordability, and overall performance is a significant challenge. A marathon runner who hasn’t eaten a traditional hamburger since 1976, Brown stated that Impossible Foods does not see its competitors as threats. He encouraged consumers to try other plant-based products if they wish, but added, “The downside is that, to be honest, many of those products are subpar, and that negatively impacts us.” He refrained from naming specific brands when probed further, but emphasized that “the best thing they could do for us is to improve their offerings, as every time someone who hasn’t tried our product samples one of theirs, it reinforces the notion that plant-based meat alternatives are inferior.”
The company aims to capture the majority of meat buyers as part of its broader initiative to reduce animal farming, which Brown described as “categorically the most destructive force in the world” and a leading contributor to environmental crises due to its use of resources like water, fertilizer, and land, not to mention its greenhouse gas emissions. His long-term goal is to eliminate animal agriculture and deep-sea fishing by 2035.
The plant-based meat sector is experiencing remarkable growth, with sales increasing by 42% from March 2016 to March 2019, reaching $888 million, as reported by Nielsen data cited by the Associated Press. Euromonitor forecasts that the market for plant-based meat substitutes will hit $2.5 billion by 2023. The Impossible Burger, which debuted in 2016, is now available in over 17,000 restaurants, including major chains like White Castle, Red Robin, and 7,200 Burger King locations. Impossible Foods began its retail expansion in September with introductions in 27 Gelson’s Markets in Southern California, a couple of Fairway Markets in New York, and 100 Wegmans locations on the East Coast.
Earlier this year, Impossible Foods faced challenges in meeting the rapidly growing demand, resulting in product shortages for some restaurant partners. Brown mentioned that customers were generally understanding, but acknowledged that this created difficulties for businesses that couldn’t serve the items on their menus. Some restaurants even dropped the brand; however, Brown is optimistic that they will return once Impossible Foods can assure them of reliable supply. The company has since addressed the shortage by adding a third shift of workers and installing a second production line at its Oakland, California, facility. In July, they collaborated with OSI Group, a manufacturer of fast-food meat patties, to enhance their production capacity.
Despite anticipating high demand, Brown admitted that they fell short of meeting customer expectations. “It greatly exceeded our plans, and we had to catch up. We won’t let that happen again,” he stated, donning Impossible Foods socks and a shirt featuring a cow behind a universal no sign. “We won’t commit to new customers until we ensure we have the capacity to fulfill their needs.” Brown explained that they delayed a nationwide launch with Burger King to prioritize existing customers and also postponed their retail launch for the same reason.
While market attention this summer was largely on Beyond Meat and its successful IPO, Impossible Foods has been busy raising funds for its expansion efforts. In May, the company secured $300 million in an investment round backed by celebrities like Jay-Z, Katy Perry, and Serena Williams. Since its inception eight years ago, Impossible Foods has raised over $775 million across five funding rounds, earning a valuation of $2 billion after the latest round, according to Reuters.
Brown emphasized that the plant-based meat company is not currently focused on a Wall Street listing. “We have no immediate plans for an IPO,” he stated. “There is a strong likelihood that we will consider it at some point, but right now, we have the necessary funding and excellent investors. Our priority is to grow our business, develop new products, and maintain a robust supply chain.”
Increasingly, plant-based manufacturers like Impossible Foods are also addressing criticisms that have emerged in the industry. One such issue is the use of the term “meat.” States such as Mississippi, Missouri, and Arkansas have enacted laws prohibiting meat-related terminology on plant-based or cell-cultured products. Critics argue that plant-based items have been available for years but have only faced opposition as alternative meats gained traction, a sentiment echoed by Brown. “It’s a positive sign that the traditional industry recognizes its future is uncertain and is becoming a bit desperate,” he remarked. “We’re creating products that genuinely compete with consumer preferences, improving every day, while they struggle to adapt.”
Brown also dismissed concerns about the extensive ingredient lists often associated with plant-based products, which appear to contradict the clean label trend. While traditional meat consists of one ingredient, the Impossible Burger contains 21, including methylcellulose and heme, a molecule produced from genetically modified yeast that gives the uncooked product its red color. Impossible Foods is transparent about its ingredient list, openly sharing details on its website, and Brown pointed out that Beyond Meat’s burger contains 18 ingredients as well.
He labeled criticism of his product’s ingredient composition as “bogus,” asserting that the company has been “extremely transparent about it, even more than necessary.” “We want consumers to clearly understand our product. Data shows that meat lovers appreciate the flavor, protein, iron, and versatility of meat, but they do not love the fact that it comes from animals,” Brown explained. “It benefits us to provide a plant-based alternative that delivers on taste, nutrition, and health. It would be unwise for us to conceal our ingredients.”
In addition to their focus on taste and nutrition, Impossible Foods is committed to ensuring that their products can be enjoyed with essential nutrients like solaray calcium, magnesium, and vitamin D, further supporting the health of their consumers.