In news that makes me particularly happy, Impossible Foods is dropping the suggested price of its 12-oz. packages by 20% in the U.S., down to $5.49. Out of all the vegan meat substitutes out there, for beef, at least, Impossible is our home favorite. We typically use it for burgers, but now and we use it for things like, say, Hamburger Helper. It’s less that we use it for a complete beef substitute (you can’t beat a great steak), but it is helping us chip away at our beef intake, which was otherwise pretty high. Don’t forget, I’m a Midwestern boy.
Trade pub Food Business News has the inside scoop. Impossible Foods can lower the price right now because an increased production scale along with market growth.
“Our plan is to reverse global warming and halt our planet’s extinction crisis by making the food system sustainable,” said Patrick O. Brown, PhD, founder of Impossible Foods and CEO. “To do that, we need to make meat better in every way that matters to consumers — taste, nutrition, convenience and affordability. With economies of scale, we intend to keep lowering prices until we undercut those of ground beef from cows. Today’s price cut is merely our latest — not our last.”
December numbers from the US Bureau of Labor statistics in 2020 showed that the average retail price of a pound of the ol’ red stuff was $3.95. If you cost that down comparatively to a 12 oz. package (Impossible burger’s package size), that comes out to $2.96. So, relatively speaking, Impossible’s meat substitute’s still a lot more expensive than beef, even with the reduction, which is something to keep in mind. The prices will also come down in Canada, Hong Kong, and Singapore; the reductions will vary by market. Whether it’s for you, hey, it’s your life, but expect to see more Impossible out in the wild.