Impossible Foods share is now worth $28

The share price is down 30% since June 2021 and 20% since August 2019.

In March, the company announced a reorganization and the stepping down as CEO of Patrick Brown, the founder of Impossible Foods. He will stay at the company as chief visionary officer and will oversee technological development.

The new CEO, Peter McGuinness, has extensive experience in brand management in the food industry. He will expand Impossible Foods' presence in supermarkets and emphasize the company's international expansion.

The artificial meat market is still in its infancy. Many products still lag behind conventional meat in terms of taste, which affects demand.

For example, revenue growth for Beyond Meat, one of Impossible Foods' main competitors, has slowed from 239% in 2019 to 37% in 2020 and 14% in 2021. Beyond Meat's share price has declined 30% since the beginning of 2022.

Taste, flavor and consistency are the most important properties on which the widespread adoption of artificial meat depends. According to Patrick Brown, the company's research is focused on these characteristics.