The plans for the expansion of Impossible Foods in Asia, a big consumer of meat

A meatless hamburger maker, Impossible Foods, is looking to expand in Asia – a region with a ravenous appetite for meat.

"Asia is by far the main center of interest for us, and it is at the heart of our mission, at the heart of our business," Nick Halla, Vice President of the Street Signs, said on Thursday. -president director of the group in charge of international relations.

According to a report published in 2019 by the Organization for Economic Co-operation and Development and by the United Nations Food and Agriculture Organization, Asia accounts for more than 46 % of world meat consumption.

Impossible Foods, which mainly manufactures herbal protein products, made its first foray into Asia via Hong Kong about 18 months after its global launch.

According to the University of Hong Kong, Hong Kong has one of the highest per capita meat consumption in the world. According to research from the university, Hong Kongers consume on average about 2 pieces of steaks daily, four times as much meat as in the UK.

This forced the Californian company to adopt a different market strategy for its expansion in Hong Kong.

"The first thing we need to do, entering a new market, is to build that credibility that is not the past herbal product," Halla said.

"So here in Hong Kong, we started with two of the world's most respected chefs, May Chow and Uwe Opocensky, to help us tell this story, and adding them to the menu is a guarantee of credibility for us. really hit the mbad market too, "said Halla.

In contrast, the company has taken a different approach in the US, where Impossible Foods recently reached an agreement with the Burger King fast food chain. On April 1, they launched the Impossible Whopper – Impossible Foods herbal paste burgers – in St. Louis, Missouri.

According to one study, St. Louis Outlets surpbaded Burger King's national average of pedestrian traffic by 18.5%.

The collaboration between Impossible Foods and Burger King came after they had worked with US chefs to put their meatless products on the restaurant menu.

"We need to be strategic about our beginnings and our growth, so let's start with really upscale chefs and upscale hotels, before going to see Burger Kings around the world," Halla said.

The expansion of Impossible Foods comes as the replacement meat market is growing rapidly. Barclays investment bank predicted that the market could reach 140 billion dollars in 10 years.

During the May funding round, Impossible Foods raised $ 300 million, which adds to the $ 750 million created during the creation of the company since its inception in 2011.