[Press Release] Impossible Foods Delivers Double-Digit Price Reductions for the Second Time in One Year with Increasing Economies of Scale

Hong Kong (Jan. 7, 2021) – Thanks to continued production records, Impossible Foods is kicking off the new year by cutting prices on its open-coded products globally for foodservice distributors who sell to restaurants.

Impossible Foods is lowering prices on average by approximately 15% on its open-coded foodservice products in the United States, including its quarter-pound (4 oz) and third-pound (5.33 oz) Impossible Burger patties, versatile 5-pound Impossible Burger bulk packages, and Impossible™ Sausage Made From Plants patties.

Impossible Foods is also lowering prices for distributors in Canada, Singapore, Hong Kong and Macau. The double-digit international price cuts, which vary by location and begin rolling out this month, apply to all Impossible foodservice products sold overseas.

Impossible Foods’ second domestic price cut in the last year comes amid record global demand for Impossible Burger, which tastes like beef and is hailed as a triumph of food engineering. Impossible™ Sausage debuted a year ago; within six months, the savory patties were available at more than 20,000 locations throughout the United States.

Demand for Impossible products continues to skyrocket — even as the food tech startup continues to achieve new production records at its manufacturing facility in Oakland, Calif. Production has increased sixfold since 2019, both in Oakland and at multiple plants owned by co-manufacturing partners.

The company’s hypergrowth has profound implications for the environment and enables Impossible Foods to achieve economies of scale — cost savings that Impossible Foods plans to keep passing along to business owners and consumers.

“Our stated goal since Impossible Foods’ founding 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,” said Impossible Foods CEO and Founder Dr. Patrick O. Brown. “Less than a year ago, we cut foodservice prices by 15%. Today’s price cut is just the latest — not the last — step toward making the food system sustainable. Stay tuned.”

Impossible appeal: Pass savings to small business owners and their customers

Similar to Impossible Foods’ initial price cut in March, the company is again asking its distributors to pass along the savings to hardworking restaurateurs, who can then lower prices for their customers as well.

Like many food companies, Impossible Foods does not typically own or operate the final point of sale for its products — grocery stores, restaurants, cafeterias, theme parks and other venues. Instead, Impossible Foods sells most of its foodservice products in the United States directly to redistributor DOT Foods, which operates multiple warehouses; DOT Foods in turn sells to numerous food distributors (such as US Foods, Sysco and many others). Those distributors determine the prices that restaurants pay, and the restaurants in turn determine the final menu price for consumers.

“While we couldn’t and wouldn’t determine pricing for independent third parties, we sincerely hope our food distributor colleagues pass along this price cut to hard-working restaurateurs and their customers in this unprecedented time of need,” said Impossible Foods President Dennis Woodside, who oversees numerous functions including sales. “As unemployment remains stubbornly high and the effects of COVID-19 continue to ravage the economy, it’s imperative to provide affordable, delicious and sustainable food to restaurants and the public.”

Mission matters most

Already considered the world’s No. 1 environmental startup, Impossible Foods’ mission is to help solve the planet’s climate and extinction crises. The company is helping to turn back the clock on global warming and restore biodiversity by making the global food system sustainable.

Impossible Foods’ best known achievement to date, Impossible Burger, tastes like beef and is considered a triumph of food engineering — the result of nearly a decade of basic science and hard-core research and development. (Some prominent Texas ranchers can’t tell the difference between Impossible Burger and ground beef from cows; a beef lobbyist called it the “real deal” and a “wake-up call” for the livestock sector.)

Impossible Burger has already started to displace sales of animal-derived foods, whose production is one of the biggest generators of greenhouse gas emissions and the leading driver of the global meltdown in wildlife. Impossible Burger has higher levels of many micro-nutrients than ground beef and requires a tiny fraction of the world’s precious resources to produce.

Delicious, nutritious, sustainable — and insanely popular

Impossible Burger debuted in 2016 at some of America’s most acclaimed restaurants. It soon became a popular menu item at the world-class establishments of chefs such as David Chang, Traci Des Jardins, Chris Cosentino, Frédéric Morin, Mark McEwan, Matty Matheson, David Myers, Gordon Ramsay, Wolfgang Puck and May Chow. Impossible Burger was named top plant-based burger by the New York Times and received the Food and Beverage (FABI) Award from the National Restaurant Association.

Impossible Burger has as much bioavailable iron and protein as a comparable serving of ground beef from cows, and includes macronutrients like fiber and micronutrients like folate, B12, thiamin and iron. The quarter-pound patty has 0 mg cholesterol, 14 grams of total fat, 8 grams of saturated fat, and 240 calories; the third-pound patty has 0 mg cholesterol, 19 grams of total fat, 11 grams of saturated fat, and 320 calories. (A conventional “80/20” patty from cows has 80 mg cholesterol, 23 grams of total fat, 9 grams of saturated fat, and 290 calories in a quarter-pound patty, and 110 mg cholesterol, 30 grams of total fat, 11 grams of saturated fat, and 390 calories in a third-pound patty.)

Impossible Burger contains no animal hormones or antibiotics and is gluten-free certified. It uses 96% less land, 87% less water and 89% less greenhouse gas emissions to produce compared to conventional beef from cows — environmental benefits that also translate to economic efficiencies.

SHARE THIS STORY

Share on facebook
Share on twitter
Share on linkedin
Share on email

RELATED POSTS

Elon Musk Buy Next

What Is Elon Musk Going to Buy Next?

There are moments in our lives—perhaps we are in the shower or struggling to sleep at 2 A.M.—when we think about all the ways we could influence the world. We find solutions to crypto volatility, world hunger and our neighbor’s ultra-dry plants.

5 Technologies

5 Technologies That Are on Stage in Russia’s Invasion of Ukraine So Far

On February 21, 2022, Vladimir Putin, President of the Russian Federation, declared the independence of the Donetsk People’s Republic and Luhansk People’s Republic. Arousing international outcry, this ignited the ultimate invasion of Russia on Ukraine three days later. While Ukrainians are still defying Putin’s covetous ambitions, new technologies have been floating on the surface to take advantage of each other.

Technology Joy Ghose

Technology Pioneers – Interview With Joy Ghose of FreeD Group

Over the past 15 years, the Chief Commercial Officer (CCO) of FreeD Group Limited, Joy Ghose, has accumulated plenty of experience in the travel and technology industry. Before joining FreeD Group, Ghose was involved in sales, marketing and management roles at companies like Merlin Entertainments and The Hong Kong Tourism Board.

Creamy Mattes and Beyond Reviewing GoPlay Cosmtics’ Custom Lipstick Maker

To Creamy Mattes and Beyond: Reviewing GoPlay Cosmtics’ Custom Lipstick Maker

While researching for our piece on personal color analysis, I came across the LIPSKIT, a custom lipstick-making tool created by GoPlay Cosmetics. GoPlay Cosmetics is a DIY (do-it-yourself) make-up brand that is looking to prioritize sustainability in the make-up industry without compromising the variety of your lipstick collection.

Ledger vs Trezor

Ledger vs Trezor: Where Should You Store Your Crypto Holdings?

As lucrative as the cryptocurrency world is, it comes with a high risk of losing your crypto because of hacks. To make sure that your crypto holdings stay safe with you, you must carefully choose effective storage solutions for them. One of the ways to keep your crypto secure is by holding it in a hardware wallet.

4 best companion robots to consider in 2022

Alone No More: 4 Best Companion Robots to Consider in 2022

The Covid-19 pandemic and the isolation that accompanied it has given many of us a healthy appreciation for good company. Over the long periods of self-isolation and quarantine, we have come to the realization that company can also come in many non-human forms, like pets, plants and… Roombas?