07 Feb 2024
Cultured meat industry at crossroads after removal from restaurants
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In recent years, three companies in the world received permission to market cultured meat, and offered dishes in a limited quantity in only 3 restaurants. Recently, all restaurants stopped offering these dishes to the public. The industry itself is at a crossroads, and has to struggle with high production costs and the inability to increase the scale of production.
Cultured meat companies have raised a lot of capital in recent years with the aim of offering consumers new products containing animal cells grown in a laboratory.
So far, two companies in the world have managed to approve their products for consumption in two countries, and have offered cultured chicken products in three restaurants – two in the U.S. and one in Singapore.
However, in recent months, all the restaurants removed the dishes from the menus and stopped offering them to customers.
In January, the Israeli Ministry of Health granted its first approval to the cultured meat product of startup Aleph Farms, and it will be able to offer it to the public after completing all the regulatory approvals. But like its competitors, it will also have to overcome the significant difficulties facing the industry and the big questions about its ability to grow.