Impossible Foods Inc, the US producer of plant-based meat, is planning to go public this year. The company’s target audience is environmentally and ethically conscious consumers.
The management has not unveiled the details yet but they are exploring options for a public listing. Impossible Foods Inc could go public through a traditional IPO. Alternatively, it is considering a merger with a special purpose acquisition company (SPAC). There is a common practice to found another private company with the aim of going public through this SPAC, thus avoiding an IPO. In any case, Impossible Foods’ market value is estimated at least at $10 billion before it is listed on the stock exchange, experts reckon. Burgers and other meat-like products of the vegetable origin are gaining popularity worldwide, thus suggesting good prospects for the company’s revenues.
Earlier, analysts at Euromonitor International predicted that the global market of alternative meat would expand to $23.2 billion by 2024. A variety of factors ranging from animal welfare concerns to the COVID-19 pandemic accounts for the boom. Experts also point out that social networks haven given birth to a trend of consuming meat-free burgers and sausages. Lots of consumers in the US are shifting focus towards plant-based meat despite the fact that it costs more than ordinary beef or pork.
Beyond Meat, the main rival of Impossible Foods in the market of fake meat, launched an IPO in 2019. The company’s market capitalization nowadays equals $11 billion.
