Wednesday, April 13, 2016

Sizzling Steaks May Soon Be Lab-Grown

The project is still underway by Memphis Meats Inc., a San Francisco company founded by three scientists, and the goal is to “remake modern animal agriculture” (Bunge). The company is aiming to enter their lab-grown meat to the market in three to four years. According to Mer. Valetti, “Memphis Meats grows meat by isolating cow and pig cells that have the capacity to renew themselves, and providing the cells with oxygen and nutrients such as sugars and minerals. These cells develop inside bioreactor tanks into skeletal muscle that can be harvested in between nine and 21 days.” Companies that are developing lab-grown meat claim that this method will “creates less waste and avoids the need for antibiotics and additives that are commonly used in meat production.” The quality of lab-grown meat will be as good as farm grown meat. The main challenge is that the production of lab-grown meats is very costly; thus, it is difficult to keep the price as low as meat sliced from animals. It was revealed that Memphis Meats officials are discussing with the U.S. Department of Agriculture and the Food and Drug Administration about their food regulation. In additions, the company also plans to unveil its meats at restaurants and retailers, especially in Memphis area.

            In my opinion, I find this article quite interesting and well relevant to our marketing class. The lab-grown meat innovation will be a big hit to the meat market if it succeeds. In the long run, I think this innovation will meet the meat consuming market demand much faster and more efficient, and cost the same as farm-grown meat. However, it can also be very controversial to many consumers. Personally, I would be skeptical buying lab-grown meat because it is still artificial made regardless. What is your thought on this innovation?

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