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Home / Business / The meat-based hunger for plants is catching consumers up in the future: Impossible Foods CFO

The meat-based hunger for plants is catching consumers up in the future: Impossible Foods CFO



The current hottest trend among investors and consumers is plant-based meat.

The shares of Beyond Meat (BYND) have risen more than 240% since their public debut two weeks ago.

And Earlier This week, Impossible Foods announced another round of $ 300 million in funding. Recent investors include JAY-Z, Trevor Noah, Alexis Ohanian, Katy Perry, Serena Williams and will.i.am.

The company has raised more than $ 750 million since 2011.

David Lee, CFO of Impossible Foods, attended Yahoo Finance's daily The Final Round live show on Wednesday to discuss the company's recent fundraiser and the company's future. And Lee said that at least part of the recent excitement in plant-based meat is that consumers "catch up" the future.

"At Impossible Foods, what we've seen [are] has increased tremendously in demand at our 7,000 locations that we have today," Lee said. "But above all, we also see big, important players in the industry, such as RBI (QSR), which owns Burger King, announcing on its own earnings list that they would like to see Impossible Burgers in all 7,200 of their US locations. 19659007] "In Asia, Hong Kong, Singapore and Macao, our business has roughly tripled since March. Much of this is the offer we came onto the market with, this Impossible Burger 2.0 … But part of it could be the rest of the world catching up with the future.

The Impossible Burger, a plant-based burger that contains wheat protein, coconut oil, and potato protein, among others. (AP Photo / Nati Harnik, File)

Earlier this week, Lee told the Financial Times that demand for the company's products had been "unprecedented."

And Lee told Yahoo Finance on Wednesday that this was impossible The food manufacturing process has been designed from the outside to not be constrained by any input. It is still difficult for the company to predict "what week in which month the increase in demand would come."

The global demand and supply will, in my opinion, be for any company serving the global meat market to be a constant challenge, "said Lee. "It's such a big consumer movement that we have to constantly try to plan ahead."

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