Impossible Foods, one of the leading companies in the plant-based market, isn't only going to sell its popular veggie-burger. Instead, the company is also working on developing a plant-based steak product, according to a recent interview with Impossible Foods' CEO Patrick Brown.
Brown said that a veggie steak that even meateaters love could be "the most impactful thing" the company does.
"[Steak] has huge symbolic value,” said Brown to "The Spoon." "If we can make an awesomely delicious world-class steak ... that will be very disruptive not just to the beef industry, but to other sectors of the meat industry."
However, developing a steak formula isn't easy. A steak marbling and texture is difficult to replicate without using any animal products at all.
Just last week, Impossible Foods announced that its Impossible Burger will have a new recipe that is gluten-free after the company decided to switch out the wheat protein for a soy protein concentrate. The new patty also has no animal hormones or antibiotics either, along with less salt. The new burger patty also has the consistency to be used as ground meat now, meaning it has multiple applications besides just being a veggie burger.
While Impossible Foods is experimenting with new products, it's Impossible Burger has become one of the most popular veggie burgers out there. It's vegan, yet it bleeds like a real burger. The company has focused on the restaurant market and White Castle now serves the Impossible Slider for $1.99.
The company's mission to offer an alternative to meat products, as it says on its website "using animals to make meat is a prehistoric and destructive technology."
Read more about Impossible Foods’ mission to launch a steak product at “Food Dive” now.
But the higher cost of plant-based burgers could be detouring consumers, especially meat eaters from selecting them as their protein option.
Impossible Foods' rival Beyond Burger has focused on retail and sells its plant-based burger for $5.99 for two patties at grocery stores. This is more than half the price for real beef burgers.
But Beyond Meat, which recently went public, has more of an expansive product line, which includes "chicken" strips, "beef" crumble, and "sausage"– all made out of plants, non-GMO soy, and pea protein.
We recently sat down with Ethan Brown, the CEO of Beyond Meat to discuss why plant-based foods have become so popular. Listen to the episode of The Barron Report below where Host Paul Barron talks to Brown about the future of the plant-based market and Beyond Meat's role in the movement.