DENNIS WOODSIDE

Beyond Meat and Impossible Foods are getting into the fast-growing market for plant-based chicken.

Impossible Foods is slashing its suggested prices for U.S. grocery stores by 20%, pushing it closer to achieving price parity with the meat it's trying to replace. The recommended retail prices for Impossible's meat-free burgers is now $5.49 for patties and $6.99 for a 12-ounce package. Outside of the United States, double-digit price cuts for Impossible products are also being rolled out in grocery stores. In the last year, the number of supermarkets carrying Impossible Foods' meat substitutes has increased by 113 times. He also said that as Impossible Foods grows, so do its suppliers.

REDWOOD CITY, Calif. - Impossible Foods is partnering with a major meat processor to increase its capacity. Demand for meat substitutes like Impossible's has been growing as people try to reduce their meat intake for health or environmental reasons. Teaming up with OSI, a private company that produces food and processes meat, should help Impossible keep up with future surges in demand and allow it to scale quickly. Impossible and OSI have essentially set up a replica of the plant-based food company's Oakland production facility within the Chicago plant, explained Sheetal Shah, senior vice president of product and operations for Impossible. Others, including Dunkin' and Tim Hortons, serve meat substitutes made by Beyond Meat, Impossible's main competitor.