Corporate Profiles - 2023 - 51

health benefits, but unfamiliar and complex ingredient labels have led to
skepticism. As a result, health-conscious buyers may have shifted away
from the category, which is perceived as highly processed.
CULTIVATED MEAT ADVANCES
Cultivated meat is gaining momentum behind regulatory approvals,
public and private funding, and new partnerships and research
agreements.
Upside Foods and GOOD Meat, the cultivated meat unit of Eat Just
Inc., both received a Grant of Inspection (GOI) from the US Department
of Agriculture (USDA) on June 21 to sell cultivated chicken in the United
States. The GOI marked the final step of the pre-market regulatory
review necessary for food technology companies to begin commercial
production and sales.
" This is a watershed moment in the history of food, " said Uma
Valeti, founder and chief executive officer of Upside Foods. " This
milestone marks a major step toward a new era in meat production,
and I'm thrilled that US consumers will soon have the chance to eat
delicious meat that's grown directly from animal cells. "
Multiple startups have unveiled plans for production facilities in the United
States, further signaling growth in the sector. Additionally, more diversified
companies have joined the fray, creating potential for a more mature supply
chain of cultivated meat resources like bioreactors, cell culture media and cell
lines. This improved supply chain will require less vertical integration for endproduct
startups and decrease production costs.
Additional growth factors include younger consumers' willingness to try cultivated
meat, 60% among ages 18 to 34, and its ability to bridge the taste and
texture gap that plant-based alternatives have yet to overcome.
There are causes for concern around the category's future, though. Unlike
younger consumers, other age groups have received cultivated meats less positively.
One study found that 60% of baby boomers were unwilling to try the
products, and a government-sponsored survey in the United Kingdom found
59% of consumers would not like to try " lab-grown meat. "
THE PROMISE OF PRECISION FERMENTATION
Efforts to use fermentation in the production of alternative proteins are
showing signs of bearing fruit.
Associations are forming, focusing on regulatory matters and consumer
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Milling & Baking News * Food Business News * Baking & Snack * Meat+Poultry * Dairy Processing * Pet Food Processing
October 2023 / 51
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Corporate Profiles - 2023

Table of Contents for the Digital Edition of Corporate Profiles - 2023