The Financial Times reports that Israeli start-up Future Meat has claimed a huge leap towards commercial viability for its lab-grown chicken, slashing production costs by almost half in just a few months.
The company, whose backers include Archer Daniels Midland, Tyson Foods and S2G, said it was now producing a 110 gramme chicken breast for just under $4, down from $7.50 announced at the start of the year.
Rom Kshuk, chief executive, said he expected the cost to fall to below $2 in the next 12-18 months. Alternative protein companies, which include plant-based, lab-grown and fermentation start-ups, are racing to come up with a product that mimics conventional meat in taste while also competing on price.
Although meat made from animal cells grown in cultivators is only currently commercially available in Singapore, more than 50 cell-based start-ups worldwide are vying to get their product to market.