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After Starbucks Partnership, Impossible Foods CEO Says Meat Industry Will Be 'Completely Replaced' In 15 Years

Impossible Foods Chief Executive Officer Patrick Brown on Tuesday told CNBC's Jim Cramer that the meat industry is due for a reckoning in the coming years.

Benzinga · -

Impossible Foods Chief Executive Officer Patrick Brown on Tuesday told CNBC's Jim Cramer that the meat industry is due for a reckoning in the coming years.

What Happened

Brown claimed that the plant-based substitutes developed by the company match the protein quality and content of the animal-derived products that they are replacing.

"This is why I think people are increasingly aware plant-based products are going to completely replace the animal-based products in the food world within the next 15 years," the Impossible Foods CEO said during the "Mad Money" interview.

"That's our mission. That transformation is inevitable," he added.

Why It Matters

Brown's comments follow the California-based company's partnership with Starbucks Corporation (NASDAQ:SBUX) announced earlier in the day.

The coffee chain giant will include the plant-based "Impossible Breakfast Sandwich" in its summer menu in 15,000 stores across the United States.

The partnership will give an edge to Impossible Foods as it is locked in an intense rivalry with Beyond Meat Inc. (NASDAQ:BYND) to capture the tempting fast food market.

Impossible Foods's products are also available in the outlets of Restaurant Brands International Inc. (NYSE:QSR) subsidiary Burger King. Rival Beyond Meat has partnered with the Dunkin Brands Group Inc. (NASDAQ:DNKN) subsidiary Dunkin Donuts.

Image by Impossible Foods