Allegedly, meatless burger-producer Impossible Foods is looking forward to expanding in Asia, which is a region with an insatiable appetite for meat. Nick Halla—Senior Vice President for international at Impossible Foods—said to CNBC, “By far, Asia is the number one aim for us. It is a central part of our mission and core to our business.” As per to a 2019 report by the OECD (Organisation for Economic Co-operation and Development), and the FAO (Food and Agriculture Organization) of the UN, Asia sums up for over 46% of the meat consumption globally. Impossible Foods—which mainly produces plant-based protein products—made its first venture into Asia through Hong Kong around 18 Months following launching across the world.
In fact, Hong Kong is one of the biggest meat consumption per capita globally, as reported by the HKU (University of Hong Kong). People in Hong Kong eat a daily average of meat equal to around two pieces of 10 Ounce steak, which is four times higher than in the U.K., as per to the HKU’s research. This has intended the California-based firm to adopt an unlike market tactic for its Hong Kong expansion. Halla said, “After coming into a new market, the main thing we have to do is to put together that trustworthiness that this is not the previous plant-based product.”
Recently, Impossible Foods was in the news as the company is planning to make another sensation with fishless fish. The company is functioning on another meatless product that is fishless fish. The fishless fish is in progress to respond to the increasing demand for plant-based food products and to aid in fighting against the exhaustion of ocean populations, as reported by The New York Times. The fishless fish would also comprise heme, which is a protein from modified genetically yeast that imitates the taste, texture, and aroma of beef for the Impossible Burger.