Impossible Burger CEO Peter McGuinness shared the company's response to claims from Bloomberg that plant-based meat is a fad on 'The Claman Countdown.'
Impossible Foods CEO Peter McGuinness responds to a recent media article calling the plant-based meat industry a 'fad' on 'The Claman Countdown.'
While a Bloomberg article suggested meat substitutes flopped despite expectations the product could "save the world," fake meat is anything but a fad according to"We're not a fad or a flop. We're just getting started, as is the category," McGuinness said on ""90% of people who eat our products eat animal meat," he added. "So this is not a fad. It's not a flop. But yet we have 15% awareness. We have 5% household penetration.
"When stories in the media are hating on plant-based meat, we throw our burgers on the grill and leave the rest to Reddit," the ad said, paired with a poster of Reddit threads praising plant-based meat.of consumer goods, which had a rough 2022. Since the start of 2023, however, the company's top competitor Beyond Meat is up 37%.
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