In this file:
· Impossible Foods Awaits China Nod as Beyond Meat Muscles In
· Impossible Foods Expands Plant-Based Sausages To Hong Kong Amid 'Unprecedented Demand'
· US plant-based meat maker Impossible Foods launches Impossible Sausage in Hong Kong, reveals appetite for China market
Impossible Foods Awaits China Nod as Beyond Meat Muscles In
Faux-meat maker needs approval for a modified yeast ingredient
Rival Beyond Meat is building production facilities in China
By Jinshan Hong, Bloomberg
September 9, 2020
American fake-meat maker Impossible Foods Inc. is concerned about how long it might take to get a regulatory nod to enter China, as rival Beyond Meat Inc. deepens its push into the world’s biggest meat-consuming nation.
California-based Impossible Foods makes meatless burger patties and sausages using heme -- its “magic ingredient” made from genetically modified yeast -- which requires regulatory approval in China.
“We’re not worried about the outcome, we’re just worried about the timeline,” Chief Executive Officer Pat Brown said in an interview, adding that he was confident about the science behind his products. “I’m not losing any sleep” over the regulatory approval because “it’s just something that we can’t control.”
Clearing the regulatory hurdle is key to Impossible Foods tapping the vast Chinese market, which accounts for 27% of the world’s meat consumption by volume. The longer it’s forced to wait, the more ground it risks losing to Beyond Meat, which is building two production units near Shanghai in a bid to capture a larger slice of the Chinese market for plant-based meat substitutes.
China is the biggest opportunity for alternative-protein makers after the coronavirus pandemic wiped out restaurant sales in the U.S. Other players such as Sweden’s Oatly AB and the U.S.-based Eat JUST Inc., a vegan egg company, already have a Chinese presence.
“I would imagine within a few years, just because of the scale of the demand in China, it will be our No. 1 market,” Brown said.
The faux-meat maker is talking to potential partners in China and will embark on a “pretty aggressive launch” when the approval comes, Brown said, without sharing any other details.
‘Car Without Wheels’ ...
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Impossible Foods Expands Plant-Based Sausages To Hong Kong Amid 'Unprecedented Demand'
Neer Varshney, Yahoo Money
September 10, 2020
Impossible Foods announced its plant-based sausage product will be available in Hong Kong starting Thursday.
What Happened: This is the first expansion for the "Impossible Sausage Made From Plants" outside of the United States, the Redwood City-based company said in a statement.
Impossible Sausage was unveiled in the U.S. in January at a Las Vegas event, and it's the company's second product after the launch of Impossible Burger in 2016.
The product is initially exclusively available at Starbucks Corporation's (NASDAQ: SBUX) stores in Hong Kong, as an ingredient in the latter's "Maize Impossible Sandwich."
Impossible Sausage will further debut later this month at additional restaurants, including Fini's, Franks Italian American, Triple O's, and URBAN, according to the company.
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US plant-based meat maker Impossible Foods launches Impossible Sausage in Hong Kong, reveals appetite for China market
Impossible Sausage is available at Starbucks starting Wednesday, to be rolled out to other restaurants such as Fini’s and Triple O’s this month
A big win for China and us if we can replace its animal-based meat supply, founder says
Martin Choi, South China Morning Post
10 Sep, 2020
US plant-based meat maker Impossible Foods has launched a pork sausage in Hong Kong with the aim of eventually building an entire production ecosystem in China.
The Impossible Sausage will be available in new sandwiches at Starbucks starting Wednesday, and will be rolled out to other restaurants such as Fini’s, Frank’s Italian American, Triple O’s and Urban later this month, the company said on Thursday.
“Pork is the most consumed meat pretty much throughout Asia – and definitely in China,” Patrick Brown, the company’s founder and chief executive, said during a virtual media briefing.
Impossible Foods is backed by Hong Kong tycoon Li Ka-shing’s Horizon Ventures, as well as Singapore’s Temasek Holdings, and its products are currently available in about 700 restaurants in Hong Kong and Macau. Hong Kong is Impossible Sausage’s first international market outside the United States.
Brown said building a China-based industry and ecosystem was “absolutely at the heart” of the company’s plans. Impossible Foods hoped to set up a manufacturing facility in the country, and build a domestic supply chain for ingredients upon receiving regulatory approval...
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