Mitsubushi Corporation has entered a new deal with renowned meat grower company Aleph Farms from Israel in order to further develop and produce lab-grown beef which will eventually be delivered to Japan as the demand for meat keeps on rising as of today.
Both of the companies would then work together and hand in hand to develop and produce the beef-gown found in the vats which are from the muscle cells of various living animals. Those are very on-point to the "tastes and nuances of Japanese consumers and regulatory bodies", according to the Chief Executive Officer or CEO of Aleph, Didier Toubia which he mentioned in an interview from his very own office all the way from Rehovot, Israel.
The New Deal
Aleph Farms would eventually utilize the capabilities provided by Mitsubishi in order to exert more effort on scaling up the actual production of the desired lab-grown meat products, as well as up to the distribution process of it in various countries, but mainly heading towards the land of the rising sun.
The CEO himself kept mum on additional details regarding the exact plan of action or the agreement per se in which both parties are primarily involved to attain their goal to provide supply in the demand for meat in Japan. Yet the known machinery company in the form of Mitsubishi - through a statement from a spokesperson in the company said last Tuesday that the company would want to do some testing first in which it could try on the potential of the market inclined with biomeat or lab-meat as what could then be considered as an insider role in its growing industry.
Lab-Grown Meat Industry vs Meat Industry
The industry of lab-grown meat or cultivated meat in other terms has becoming a close to mainstream thing, especially in Japan. Its rise to the occasion would often be incorporated to the worldwide call for animal rights and different environmental problems and issue surrounding the world today. The market that caters the exchange between cell-based meats and its consumers is expected to hit a total amount of 140 billion USD in the coming decade, which has been a projection or forecast provided by known investor for alternative proteins, Swiss venture capital Blue Horizon Corporation.
Yet the already growing industry for the cell-based meats may still be not enough for the established meat industry, in which its size has now been already capped off an enormous amount of over 1.3 trillion USD in total, as provided by the Global Data. Its unsparingly high growth continues yet the production cost also goes high as well due to the reasons of taste and health implications being considered and labeled as 'the biggest barriers' to its dominance in the food industry, according to news media outlet and source website Bloomberg.
Although this has been a big news, Aleph is taking it slow and are not rushing over things. Toubia even added in his interview that they might be the third or fourth company which would release a product, but it is mainly because of their given focus on "consumer acceptance."