BioCraft, an Australian company developing cultivated meats for pet food products, has announced that its cultivated ingredients have achieved a commercial price of USD 2–2.50, reaching price parity with traditional premium meat for pet food.

The company utilizes AI for cost reduction and expedites the development of cultivated meats. Further, it uses a specially formulated nutrient-rich growth media to enhance the nutritional value, which is reformulated to be part of the final product after the cultivation process, allowing for the reduction in waste and cost of disposal.

Analyst QuickTake: Recently, there has been an uptick in activities in the alternative pet foods space. These include Bene Meats’ debut of its cultivated pet food product, Meatly’s development of a new protein-free culture medium, MicroHarvest’s partnership with VEGDOG for a novel microbial protein dog treat, and Calysta’s collaboration with Dr. Clauder’s to launch dog treats made with FeedKindPet protein.