The cell-based meat industry is facing a challenging funding environment as investors become more cautious about the sector. While some companies in the space have managed to secure funding, these are typically industry leaders or those with unique technologies. Despite the current financial struggles, it is premature to write off an industry that didn't even exist couple of years ago.
The cell-based meat sector faces stiff competition from the heavily subsidized industrialized animal agriculture industry, which has been scaling up and driving efficiencies for decades. It is anticipated that a significant percentage, perhaps 70-90%, of companies in the cell-based meat industry may fail over the next year. However, those that survive are expected to build robust businesses and scale their technologies.
The current funding challenges are not unique to the cell-based meat sector but extend across various industries. The market is undergoing a correction, and companies seeking investment are finding it more challenging. Instead of raising large sums, they are now fortunate to secure smaller funding rounds.
Cell-based meat production experienced a period of rapid growth, leading to mispricing and unrealistic expectations. Leveraging biology to produce commodity items takes time, and the industry is still working on overcoming significant challenges such as cost and scale.
Currently, producing 100% cell-based filet mignon steaks at a massive scale is neither commercially viable nor technically feasible. However, there is potential for cell-based cultivated cells to be used as ingredients in plant-based burgers and sausages, making the economics more favorable. Blending cultivated cells with plant-based ingredients at varying percentages can create commercially viable products without requiring large-scale bioreactors.
A hybrid approach, combining undifferentiated cell biomass with plant-based ingredients, appears to be the way forward. This approach allows for cost-effectiveness and simplicity in product development. While 100% cell-based products may not be viable or necessary at this stage, even small percentages of cultivated cells can significantly impact flavor and texture. Fat, in particular, can enhance the meatiness of plant-based burgers with only a small inclusion rate.
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