In this file:
· Impossible Burger To Hit Grocery Stores In Retail Debut, Heating Up Fake-Meat Battle
· Where’s the beef now? More meatless meat bound for store shelves
Impossible Burger To Hit Grocery Stores In Retail Debut, Heating Up Fake-Meat Battle
Bill Peters, Investor's Business Daily
Sep 19, 2019
Beyond Meat (BYND) rival Impossible Foods said Thursday that its plant-based Impossible Burger will debut on grocery-store shelves Friday, with plans to make the faux-meat patty available in grocery outlets nationwide by the middle of next year. The news hits as Beyond Meat stock has come well off its high.
Impossible Foods said its burger patty would land at 27 Gelson's Markets locations on Friday across Southern California. The imitation-meat producer said it would be announcing additional grocery-store partners later this month.
Impossible Foods will sell the patty in a 12-oz package at Gelson's for $8.99. Its arrival will follow the flood of attention the fake-meat industry received after Beyond Meat's scorching IPO in May. And it will ratchet up the grocery-store competition between the two companies and bigger rivals hoping to draw health- and environmentally conscious consumers.
Beyond Meat tries to stock its own plant-based products in the meat section, in an effort to draw those consumers and others who are curious about the taste. The company has said that 93% of shoppers at Kroger (KR) supermarkets who bought Beyond Burgers during the first half of 2018 "also purchased animal protein during the same period, which evidences Beyond Meat's appeal to meat-loving consumers."
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Where’s the beef now? More meatless meat bound for store shelves
by Danielle Wiener-Bronner, CNN Business
via WRAL (NC) - September 19, 2019 .
Impossible Burgers will hit grocery shelves for the first time on Friday.
The soy-based meat substitute will be sold at all 27 Gelson’s Markets locations in Southern California, Impossible said Thursday. Later this month, the product will become available in grocery stores on the East Coast.
Impossible is launching its retail product as the meatless meat sector starts to become more crowded. Plant-based protein company Beyond Meat sells burger patties, sausages, crumbles and grounds at Safeway, Kroger, Shop Rite and other grocery stores. Kellogg and Nestle both have plant-based burger patties in the works. Kroger, which is testing out a plant-based section in the meat aisle of some stores, recently announced that it is launching a line of meatless products, including meatless burger patties and deli slices, this fall. Even meat processors like Tyson and Smithfield Foods are jumping on the trend.
It’s no surprise that big food companies and retail chains are entering the sector.
Barclays predicts the alternative meat sector could reach about $140 billion in sales over the next decade, capturing about 10% of the global meat industry.
US retail sales of plant-based foods have grown 11% in the past year, according to a July report from trade group Plant Based Foods Association and the Good Food Institute, a nonprofit that supports plant-based businesses. Refrigerated plant-based burger patties, which have spiked 151% since 2018, have helped drive that growth, GFI noted.
For Impossible, it was important to launch in restaurants before hitting grocery stores, CFO David Lee told CNN Business. The Impossible Burger debuted three years ago at Momofuku Nishi, a high-end restaurant in New York City owned by chef David Chang.
“We wanted the benefit of building a consumer movement in the hands of professional chefs before we began to serve home chefs,” Lee said.
Today, the Impossible Burger is served at over 17,000 restaurants, including Burger King and White Castle...