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After Mosa Meat showed off the world s first hamburger made from cell-based meat in 2013 a process that took two years and cost the equivalent of $325,000 people believed that real meat could be made without slaughtering an animal.
Then came the next challenge: producing cell-based meat less expensively, let alone at a price affordable to a consumer.
The price has been steadily dropping thanks to more players in the game, scientific advancements, new plant-based growth media, and partnerships across different scientific disciplines. Most recently, Israel-based Future Meat Technologies has gotten the price to produce a cell-based chicken breast down to about $7.50.
Soup-To-Nuts Podcast: Cultivated meat inches closer to mass market with price drop, fundraises for new technology In the next 12 to 18 months, cultivated meat could become available to the masses, according to some industry players raising funds to scale production of technological and scientific advances that will allow for lower production costs and a lower consumer price point.
Today, Israel-based Future Meat Technologies announced a significant price drop in the production of its chicken patties that beat investor expectations as well as a $26.75m fundraise that will allow it to further scale its GMO-free cell lines and bioreactors to further strive for price parity with conventional meat.
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The announcement earlier this month that Eat Just s cultured chicken had received regulatory approval in Singapore took a huge step to legitimize the cell-based meat industry. What was once seemingly science fiction is now something that consumers will be able to eat. It opens up the door for all of us to stop talking about things, and actually scale this damn technology and make the world s future meat, Eat Just CEO Josh Tetrick said at a panel at the virtual Future Food-Tech conference days after the approval was announced. Eat Just s cultured chicken bites will be sold under the Good Meat brand at a restaurant on the island nation in the near future.