One of the founders of Dutch cultivated-meat company Meatable has stated that the business is unlikely to achieve profitability with its initial product launches in the food and beverage industry trends. Daan Luining, co-founder and CTO, explained that the supply chain economies of scale necessary for profitability will not be met initially. Meatable has recently raised $35m in a new funding round and aims to target the Singapore and US markets.
Luining also mentioned that Meatable’s first batches of products might be considered loss-leaders due to the ongoing challenges in the food and drink business and consumer trends. Founded in 2018, Meatable specializes in creating cultivated meat such as pork sausages and dumplings, boasting the fastest production process in the cell-based field. The company’s goal is to enter the Singapore market and gain feedback from local restaurants and chefs before expanding to the US.
While regulatory approval remains a hurdle for cultivated meat to be available in supermarkets, another significant challenge is cost. The growth medium required for cell-based production is expensive and not readily available in large quantities, hindering price competitiveness. Meatable is actively looking for suppliers to improve the supply chain and enhance efficiency.
Although regulatory pathways have been slower in Europe, Luining believes that once approval is granted, European countries will market cultivated meat products. However, the absence of first-mover advantage in countries that have already approved such products is mitigated by the vast potential of the meat market. Even capturing 1% of the market would be significant.
