With plant-based diets becoming increasingly popular, Nestle, the world’s largest food company, has decided to explore opportunities in the cultured-meat market, which could see the relatively unheard of technology brought into the mainstream.
According to Bloomberg, which cited people familiar with the matter, Nestle has been in the midst of exploring options for alternative meat products, which would combine plant-based ingredients with cultivated meat. Nestle is expected to create the meat substance alongside Israeli-based startup Future Meat Technologies Ltd, which has already created the technological capabilities needed for cell-based products.
Nestle’s previous efforts in producing plant-based products under the Garden Gourmet brand will be helpful in creating animal-friendly alternatives that are similar to real meat in both texture and flavour. The product would consist of meat cells combined in bioreactors with plant ingredients, and with Nestle’s expertise, could bring the relatively unknown product to the mainstream market a lot faster.
Although the popularity of plant-based food alternatives has been growing at a fast pace, consumers still face limited options when it comes to replacing conventional animal products in their diet with parallel protein alternatives. Although certainly promising, lab grown meat technology continues to suffer from several shortcomings, particularly in terms of costs.
However, according to analysts at consultancy firm Kearny, the relatively untapped industry has the potential to account for nearly 35% of the $1.8 trillion meat market come 2040. A number of other major companies have already backed the cultured meat market, including Cargill Inc. and Tyson Foods Inc., both of which have invested in the technology.
Information for this briefing was found via Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.