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Meatech
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=== The opportunities and challenges of cellular meat === Over the last few years, there has been significant progress in producing cultivated meat. In terms of the product, while taste is of paramount importance, texture and appearance are also essential to the consumer experience, as discussed above. The overwhelming advantage of cultured meat is the fact that it is biologically identical to conventional meat while its use of resources is substantially lower. At present, most production processes are still operating at lab scale. Cost remains a major hurdle, with the growth medium proving to be the most expensive part of the process, although this is expected to decline as volumes grow. Regulation is also a barrier, as cultivated food requires approval in most jurisdictions, in some cases by several regulatory bodies (eg in the United States approval for cultivated meat is required by both the US Department of Agriculture (USDA) and the Food and Drug Administration (FDA)). At present, Singapore is the only jurisdiction globally where cultivated meat is approved for sale, with chicken being the first meat available to Singaporean consumers, although currently only in a single restaurant. There are a number of companies which are active in the cultured meat space, though limited information is available as they are privately held. There are also a number of companies involved in 3D printing, with some choosing to 3D print plant-based steaks (eg Redefine Meat’s 3D printed plant-based meats are being sold in high end restaurants in several countries in Europe). While products are still either at the prototype stage or selectively distributed, it is impossible to judge how consumers will react to the various competing products. MeaTech’s intention to recreate a steak by 3D printing should place it in good stead compared to conventional alternatives, assuming the taste, texture, aroma and overall consumer experience are comparable to that of conventional steak. This of course also assumes all regulatory hurdles are cleared and the cost is at a level that is acceptable to the consumer.
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