Plant-based meat leader Impossible Foods is teaming up with Equii to enhance its protein offerings. This partnership aims to provide consumers with more ways to enjoy high-protein meals. CEO Peter McGuinness shared on LinkedIn that this deal will allow Impossible to expand its offerings beyond their popular meat alternatives like burgers and sausages.
Equii is known for its high-protein products, including bread and pasta. By collaborating, Impossible Foods can create complete meals where both the meat and the bun are rich in protein. This aligns with a growing consumer interest in protein-packed foods.
Shoppers are increasingly seeking protein-rich options. This trend has led various food makers to incorporate protein into a wide range of products, from pasta to snacks. With this partnership, Impossible Foods aims to give consumers easy access to meals that fulfill their protein needs.
However, the plant-based meat industry is facing challenges. Economic uncertainty and concerns about processed foods have caused some consumers to revert to cheaper animal products. Reports from the Good Food Institute show a decline in the plant-based market, with a 7% drop in sales expected for 2024. As a result, companies like Impossible Foods and Beyond Meat have been making cuts to align costs with demand.
McGuinness expressed optimism about the future, stating, “This is a big step forward for us and the rest of the category.” By adapting to consumer needs and enhancing their product lines, Impossible Foods hopes to stay competitive in the evolving market of plant-based proteins.
For more insights on the current state of the plant-based industry, you can check out the Good Food Institute’s research here.
