BioCraft Pet Nutrition, a leading manufacturer of cultivated meat ingredients for pet food, announces it has reached price parity with premium traditional meat. This achievement marks a significant milestone for the pet food industry.

We see this as a breakthrough moment for cultivated meat for pet food. Achieving price parity and a robust nutritional profile for pets were the only elements holding back cultivated meat for the pet food industry—and BioCraft has now achieved both. – CEO Shannon Falconer. 

The global pet food market, valued at $143 billion in 2023 with 5.3% CAGR, has faced increased demand and supply chain challenges. These factors, along with rising consumer awareness of sustainability and animal welfare, have driven the search for alternatives to traditional meat. Until now, the high cost of cultivated meat was a barrier to its widespread use in pet food.

Our FoodTech Data Navigator tracks 78 innovative pet food startups, spanning technologies such as plant-based pet food, functional supplements (i.e. gut-focused), alternative proteins (fermentation, insect, cell ag), and all-natural and organic pet food. The rise in pet owners becoming increasingly conscious of the ingredients in pet food contributed to making 2023 the year with the most capital raised to date ($400 million, Source: FoodTech Data Navigator). There are 14 companies that have been featured in the FoodTech500 (across all editions). 

BioCraft Pet Nutrition’s innovative approach re-imagines the manufacturing process to make cultivated meat affordable. By incorporating nutrient-rich growth media into the final product, BioCraft ensures zero waste and bolsters nutritional value. This efficiency has enabled BioCraft to achieve a sale price of $2.00-2.50/lb for its cultivated meat, making it competitive with premium meat in pet food.

BioCraft plans to sell its cultivated meat in brand-name products in early 2026. This announcement is following the recent news from Meatly, launching the UK’s first cultivated meat for cats. Could entering the pet food market prove to be an effective move for scaling the cultivated meat industry? Let’s wait and see.

BioCraft Pet Nutrition is a first-timer in the FoodTech 500 for 2023.  

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