October 21, 2020

Impossible Foods expands to Singapore and Hong Kong grocery stores, possibly entering China

Impossible Foods' plant-based beef burgers will be sold in grocery stores in Singapore and Hong Kong from Oct 20, as it boosts is Asian presence gearing up for possible entry into the mainland China market, Reuters reported.

The company said it is still awaiting Chinese regulatory approval for its key ingredient, heme, made from genetically modified yeast.

Pat Brown, chief executive of Impossible Foods, said the company could enter sometime in 2021 or in the next few months.

Competitor Beyond Meat signed an agreement in September to open a production facility near Shanghai.

Brown said Impossible Foods is looking to build a complete plant-based supply chain in China, turning it into a domestic industry.

He said China could have an entirely domestic plant-based meat supply, which is better from a public health point of view and lowers environmental footprint.

Nick Halla, senior vice president for international at Impossible Foods, said heme is a key ingredient in Impossible Foods' products and a substitute will not be affordable or scalable to get the same meat-like taste.

Impossible launched in 200 grocery stores in Singapore and Hong Kong, as the company shifts towards retail because COVID-19 has hampered restaurant and foodservice operations.

-      Reuters