Impossible Foods, a developer of plant-based substitutes, has reportedly announced that its faux beef burgers will be made available in Singapore and Hong Kong grocery stores. This will enable the company to drive its footprint in the Asian market and enter the lucrative mainland China market.
The news of the faux beef burger launch by this plant-based meat developer comes amid its anticipation of the Chinese regulators’ approval, as heme, its key ingredient developed from genetically modified yeast, needs approval in the country.
According to Pat Brown, Impossible Foods’ CEO, the company is expecting to gain approval from the Chinese regulators in the near future. He further added that it is targeting to develop a complete plant-based supply chain in the region and advance it into a domestic industry. This market expansion could also aid the country in maintaining a domestic meat supply chain, which can be operated as an efficient channel for food supply. The initiative may also help serve the rising number of health-conscious consumers and reduce the environmental footprint to create a positive impact on the overall food chain.
In addition to Impossible Foods, several other plant-based meat producers are expanding their stance in the global market, especially in China. For instance, Beyond Meat has reportedly inked a deal to launch a production facility near Shanghai, as it has been lending a key focus on business expansion in the rapidly growing Chinese market.
As per the statement made by Impossible Foods’ senior VP for international, Nick Halla, the substitution of heme with other products and to achieve the same level of taste may not be scalable or affordable as it is the key ingredient.
The ongoing COVID-19 pandemic has posed adverse impacts on the company’s business due to the subsequent closure of restaurants and stores to curb the spread of the virus. Due to these setbacks, it has recently launched its products in around 200 grocery stores in Singapore and Hong Kong.