McGuinness Talks Strategy for Impossible Foods’ European Expansion: “Leading with Climate Didn’t Work”
At Bloomberg’s Sustainable Business Summit in London, Peter McGuinness, CEO of Impossible Foods, shared insights on the company’s strategy for European market expansion. Speaking with Bloomberg’s Kriti Gupta, McGuinness detailed the company’s efforts to navigate the evolving plant-based food industry and its approach to overcoming current market challenges. UK market faces plateau Impossible Foods is seeking to expand its presence in the UK and the European market. McGuinness pointed out that the UK leads Europe in plant-based consumption, offering a unique opportunity for the company. However, he noted that the market, while initially growing rapidly, has begun to plateau, largely due to issues with taste and consumer confusion. “It started with a big bang, and there was a lot of publicity around it and several …