Impossible Foods enters retail as demand for refrigerated plant-based burgers skyrockets, entry to accelerate plant-based meat market growth
19 September 2019
Refrigerated plant-based burger sales in U.S. retail have surged 151 percent since 2018, according to SPINS data commissioned by GFI and PBFA. The data shows that refrigerated plant-based burgers are a key engine for growth within the plant-based meat market, with sales increasing more than five times as fast as other plant-based meat products
The Good Food Institute Executive Director Bruce Friedrich says Impossible Foods’ retail debut will drive significant growth within the plant-based meat market by expanding choice and enhancing access for consumers.
“Impossible Foods’ retail debut will prompt a rapid acceleration in plant-based meat market growth. Impossible’s entry into retail will help expand and strengthen the plant-based meat market, giving consumers more choice and stimulating demand across the entire sector,” said Friedrich.
“Plant-based meat has an enormous growth opportunity and currently commands less than 1 percent of the U.S. meat market. Rather than stealing market share or competing with plant-based incumbents like Beyond Meat, Impossible Foods will be competing with conventional meat and will be expanding the share of the pie that goes to plant-based over conventional meat,” he said.
“Increased availability is what will allow the plant-based meat sector to really break through. Adding exciting new products like the Impossible Burger to the meat case will accelerate this process. Impossible Foods’ entry into retail will create a much bigger plant-based market. Where plant-based meat is concerned, a rising tide will lift all boats.
“Products like the Impossible Burger have supercharged plant-based meat market growth by enticing more and more omnivores to embrace these products. By appealing to America’s meat-loving masses, Impossible Foods has helped propel plant-based meat into the mainstream, opening up and capturing entirely new consumers.”
“Impossible Foods has had phenomenal results in foodservice and we are excited to see them bring their winning strategy to supermarkets across the country. Demand for the Impossible Burger in restaurants and fast food is through the roof, and we expect to see similar results in retail as the product hits supermarket shelves.”
Note: The data summarized here was commissioned by GFI and PBFA from leading market research firm SPINS. It covers the grocery marketplace and was obtained over the 52-week period ending April 21, 2019.
Media inquiries: Maia Keerie at The Good Food Institute on 415 767 8973 or via firstname.lastname@example.org
The Good Food Institute (GFI) is a 501(c)(3) nonprofit working internationally to make alternative proteins delicious, affordable, and accessible.