There is no denying that eating habits are shifting dramatically with more veganism and vegetariansim than ever before. Bioprinted meat is a new landmark for plant-based alternatives.
Israeli company, Meat-Tech 3D, is the first to develop bioprinted meat, grown in a lab. The self-confessed “leading developer of cultured fat products” has developed a new stem-cell-based technology. Above all, it has the ability to replicate animal fats in a lab without harming animals in any way. Not only can it reproduce animal fat, it offers fats from a wide range of animals including cows, geese and chickens. Consequently, this diversity of product and new technology could change the face of meat alternatives.
Meat-Tech 3D announced the acquisition of an unnamed company to aid its goal of producing cruelty-free meat for mass consumption. The company will help Meat-Tech develop new technologies for lab-grown meats based on 3D bioprinting. In the deal, Meat-Tech will purchase all of the company’s shares for a total of $17.5 million dollars. According to Steve H Lavin, chairman of the Board of Directors of Meat-Tech, cultured fats could be the first cell-based product to be launched at scale.
Key Market Player
The bioprinted meat market is relatively new, with few key players in the market. Subsequently, this new acquisition could help Meat-Tech gain a monopoly over the market. Although there are many companies boasting plant-based alternatives, this new technology is the first of its kind. The production of fats promises a new way to replicate the flavour of meat – something which many meat-alternatives lack.
USP of Meat-Tech
CEO of Meat-Tech, Sharon Fima, said that they aim to print a complete steak, with all its components, ingredients and flavour. Through this they need to recreate the tissue, the protein and the fat. They have already successfully achieved bioprinted meat tissue using stem cells.
Now, the target company they are acquiring has fat which can be included in cultured chicken and cultured fish products. As a result, this widens their future offerings for meat free alternatives.
The Value of the Meat Alternative Market
With no signs of veganism or vegetarianism trends slowing down, the meat-alternative market is set to be worth $27.9 billion by 2025. Thus, if Meat-Tech can find a way to offer a more authentic meat flavour than other plant-based alternatives, they could lead the market.