SPECIAL SUPPLEMENT: Meat Alternatives - May 2021 - 6

MA RK E T OV E RVIEW

You have to
win on taste.
If you can't
match the
animal on
taste, then
you're not
going to be
successful. "
Dennis Woodside

Meati Foods in Boulder, Colo., is harnessing
the fermenting power of mushrooms to make
mycelium-based steaks. The company raised $28
million last year in Series A funding.
Mycelium is the complex network of fibrous
roots that make up mushrooms and are the perfect plant material for making protein with a
meat-like texture. Fermented plant proteins also
have the advantage of being easier to digest than
other plant-based proteins.
Although plant-based meat and biomass fermented products have been available to retail
customers for years, consumers are still waiting
to taste cell-cultured meat.

CULTURE FLASH

2021 MEAT ALTERNATIVE TRENDS + TECHNOLOGY MEAT+ POULTRY

GFI reported that cultured meat companies received over $360 million in investment in
2020. This is six times the amount raised in 2019
and 72% of the amount raised since the industry
began in 2016.
Cultured meat has huge potential because it
offers meat-eaters a way to enjoy real meat while
making a values-based choice.
" Cultivated meat is genuine meat that looks,
cooks, sizzles, and tastes just like conventional meat, " said Emma Ignaszewski, corporate engagement project manager at GFI. " Once
cultivated meats are on the market at the same
price with conventional meats, why would anyone ever want to buy conventional meat again? "
Similar to the way that Beyond Meat and
Impossible Foods rolled out products with legacy foodservice companies like Dunkin Donuts
and Burger King, some cultured meat companies
are hoping to win over consumers by releasing
their first products directly into the mainstream.
KFC announced it would be experimenting
with 3D printed chicken in Russian restaurants
in the future.
The potential for cultured meat is huge and
that is why investment into the sector continues
to rise. Mosa Meats in Maastricht, Netherlands,
reported an $85 million completion of Series
B investment on Feb. 23. Memphis Meats has
received over $200 million in funding, to date.
Investment in plant-based, fermented, and
cell-cultured meats will continue to grow as
interest in alternative proteins takes on bigger
importance to consumers looking to grill and eat
a burger, but with the added benefits of health
and the environment in mind.

Terry White - stock.adobe.com

Cell-cultured meat (often referred to as cultivated
or lab-grown meat) is made by using biomedical
tissue engineering technology to grow real animal cells without the animal. The industry touts a
slaughter-free product that could use around 90%
less land, water and energy than conventional meat.
Last year was a banner year for the cell-cultured meat industry. In December, Singapore
became the first country to approve the sale of
cultured meat to consumers. The San Franciscobased company Eat Just made cultured chicken
nuggets that were served at the innovative social
club 1880 in Singapore.
Israeli Prime Minister Benjamin Netanyahu
became the first head of state to taste cultured
meat when he ate a steak from Israeli company
Aleph Foods. The company is using 3D printing technology to make ribeye steaks it hopes
will one day be indistinguishable from a ribeye
derived from a real steer.

Plant-based products are
now available at retail
outlets and foodservice
venues offering
consumers substitutes for
traditional beef, chicken
and pork products.

SPECIAL SUPPLEMENT: Meat Alternatives - May 2021

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