The poultry industry is searching for innovative ways to tempt consumers away from plant-based meat alternatives or tissue cultured raised meat.
Interest in meat alternatives has skyrocketed in the past few years thanks to new products that better mimic the taste and texture of real meat. In the past, most consumers purchasing meat alternatives were vegans and vegetarians. Today, plant-based consumers are typically people are looking for variety beyond traditional animal proteins, citing animal welfare and environmental concerns.
Tissue cultured raised meat uses real animal cells that are grown in a stainless-steel tank known as a bioreactor. The process can be used to produce a product that resembles chicken, beef, pork and other meats. Although cultured raised meat products aren’t available on the market yet, consumers around the world have expressed interest in trying it.
Investment in meat alternatives reached a record high of $930 million during the first quarter of 2020. A majority of the funding went towards the development of plant-based meat and egg alternatives, however interest in cultured meat is also growing.
Some companies who sell traditional animal proteins have embraced the new trend by investing in meat alternative startups or debuting blended nuggets that combine chicken with vegetables.
But is there a better way for the poultry industry to succeed?
Transformation is needed
Paul Cuatrecasas, CEO and founder, Aquaa Partners, predicts that innovation is not enough to keep the poultry industry relevant for consumers and successful in the competition with plant-based meat alternatives and tissue cultured raised meat. In order to truly succeed, he says, poultry companies will need to transform themselves.
Cutrecases will share more of his thoughts on the trends that will shape and disrupt the poultry supply chain in the next 10 years at the 2020 Virtual Poultry Tech Summit, scheduled for October 20-22, 2020. This one-of-a-kind online event facilitates the transition of innovation technologies from researchers and entrepreneurs into commercial applications for the benefit of the poultry industry. Registration is now open.
Like what you just read? Sign up now for free to receive the Poultry Future Newsletter.