A Fork & Good representative said the company expects to"sell at the cost of meat of the same value," while a BlueNalu representative said it aims to"offer products at or close to price parity," but says it's"not in a position to provide details around cost" since it has yet to bring a product to market.
That's been a common go-to-market strategy for similar companies, Swartz pointed out, adding that Impossible Foods took that approach in 2016 when it launched its products at David Chang's Momofuku Nishi in New York City. In fact, cultivated-meat companies may never compete with traditional meat in price, Swartz said, but in order to demonstrate true proof of concept, they'll have to at least demonstrate that they can make products in accordance with their estimated pricing models.
In 2021, Upside opened its first production facility in Emeryville, California, a 53,000-square-foot space powered entirely by renewable energy. At that facility, Upside tests new technologies and processes to determine what changes need to happen in order to scale up, Chen said. After Upside launches its first consumer product, the cultivated chicken fillet, its next debut will be ground products made up of both animal cells and other ingredients, including vegetables and plant-based proteins.
The FDA's clearance was a voluntary premarket consultation, which means the agency has no further questions about the safety of Upside's products. Now, Upside must meet the same stringent FDA requirements as any other food product, includingIn March 2019, the FDA and the U.S. Department of Agriculture agreed to afor handling foods made with animal-cell technology.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: CARmagazine - 🏆 382. / 55 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: WashTimes - 🏆 235. / 63 Read more »
Source: NBCNews - 🏆 10. / 86 Read more »
Source: ABC7Chicago - 🏆 284. / 63 Read more »