Upside Foods, which is developing cell-cultured meat, announced its acquisition of Cultured Decadence, a start-up that aims to make seafood from cells, starting with lobster.
Yes lobster. Why?
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Decades ago, when food makers started selling alternatives to animal products, such as soymilk and tempeh, the idea was to solve a problem: many consumers, for a variety of reasons, could not or chose not to consume dairy products or meat.
These days, the rush to replicate animal products and ingredients has far less to do with meeting consumer demand.
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The Branch Venture Group explains its seed investment into Cultured Decadence by listing the following reasons:
- What they call “supply chain inefficiencies” for lobster caught the old-fashioned way;
- Confidence in the company’s team;
- Size of the addressable market ($20 billion); and
- Ability for a high-value product to compete in the market compared to cheaper meat products.
Notice anything that’s missing from the list? Consumer demand.
