Impossible Foods has announced a strategic partnership with Equii, a food tech company, to enhance its protein portfolio beyond just plant-based meat products. This alliance will introduce high-protein, grain-based bread and pasta to Impossible’s current offerings, which primarily include plant-based meat alternatives such as burgers and sausages.
CEO Peter McGuinness shared the news on LinkedIn, stating, “Teaming up with Equii will allow us to deliver even more protein in a way that’s complementary to our existing plant-based proteins, starting with select grain-based breads and pastas.” He emphasized that protein consumption can extend beyond the patty, allowing consumers to combine nutritional benefits from both the meat and the bun.
McGuinness noted that protein is a dominant trend in the global food and beverage industry. According to updated Dietary Guidelines, there is now a greater focus on protein intake. He indicated that consumers are increasingly seeking ways to incorporate more protein into their daily meals.
Founded in 2021, Equii specializes in producing high-protein bread, pasta, and baking mixes using advanced fermentation technology. As part of the collaboration, Equii’s co-founder and CEO, Monica Bhatia, has joined Impossible Foods as vice president of grain-based innovation. Bhatia expressed her excitement about leveraging Equii’s baking innovations to create high-protein grain products that align with Impossible’s mission.
This partnership is particularly noteworthy given the current challenges facing the plant-based meat sector. Recent data from the Good Food Institute (GFI) revealed a 7% decline in sales of plant-based meat and seafood in 2024, totaling $1.2 billion. Furthermore, unit sales experienced an 11% drop, amounting to $195 million.
In a client note dated November 12, analyst John Baumgartner from Mizuho Securities highlighted Nielsen data indicating an 8% decrease in plant-based meat sales volumes through retail over the year leading up to November 1. Despite these setbacks, GFI’s research found that nearly three-quarters of US consumers aged 18 to 59 expressed openness to trying plant-based meat and dairy in the future. The study underscored that taste and price are critical factors influencing consumer acceptance of plant-based foods.
As the food and drink business continues to evolve, keeping abreast of such trends is essential for industry stakeholders. The strategic collaboration between Impossible Foods and Equii exemplifies how companies are adapting to meet consumer demands while navigating market challenges.
