Following approval of soy leghemoglobin as an ingredient for plant-based meat substitutes, Impossible Foods has now entered markets in Australia and New Zealand.
Dennis Woodside, President of Impossible Foods stated, "our launches in Australia and New Zealand are another huge step towards bringing delicious, sustainable options to every market in the world". The company has announced that Impossible Foods products are available in Canada, Singapore, Hong Kong and the United Arab Emirates.
Following a listing of Impossible Foods, the profitability of the company will be revealed and potential investors and industry observers will be able to assess the potential for growth and profitability. Both parameters are in question based on the Q3 releases by Beyond Meat (BYND) and Maple Leaf Foods (MFI-TO)
The question arises as to why the company wishes to ship product halfway around the world when it apparently has a growing market in the U.S? Is Impossible Foods seeking “low-hanging fruit” by appealing to the curiosity factor among the affluent environmentally conscious demographic in foreign markets in response to flagging sales and competition in the U.S.?