Formo is Set to Reshape the Egg Market with "What Came Third"
Laura McQuarrie — September 19, 2023 — Lifestyle
References: vegconomist
Biotech company Formo develops animal-free dairy products using nature-identical milk proteins from precision fermentation, and it's preparing to venture into—and disrupt—a new category with precision fermented eggs.
Although other types of precision fermentation products have taken off, Formo recognizes that introducing the public to precision fermentation eggs will not be without a challenge. A peer-reviewed study conducted by Formo in partnership with Singapore Management University surveyed 3,000 consumers from Germany, the United States and Singapore, finding that 51% to 61% of people would be open to trying the products. These acceptance rates are slightly lower than the 79% of consumers who say they're willing to try cheese made with precision fermentation, and researchers attribute this to fermented alternatives being perceived as more processed in comparison to whole-food chicken eggs.
Formo is set to launch its flagship egg product, What Came Third, in late 2023.
Although other types of precision fermentation products have taken off, Formo recognizes that introducing the public to precision fermentation eggs will not be without a challenge. A peer-reviewed study conducted by Formo in partnership with Singapore Management University surveyed 3,000 consumers from Germany, the United States and Singapore, finding that 51% to 61% of people would be open to trying the products. These acceptance rates are slightly lower than the 79% of consumers who say they're willing to try cheese made with precision fermentation, and researchers attribute this to fermented alternatives being perceived as more processed in comparison to whole-food chicken eggs.
Formo is set to launch its flagship egg product, What Came Third, in late 2023.
Trend Themes
1. Precision Fermentation Products - Formo has developed animal-free dairy products using nature-identical milk proteins from precision fermentation, and now they're venturing into precision fermented eggs.
2. Consumer Acceptance of Precision Fermentation - Formo's peer-reviewed study found that 51% to 61% of consumers are open to trying precision fermented eggs, slightly lower than acceptance rates for other precision fermentation products.
3. Perception of Fermented Alternatives - Formo's study suggests that fermented alternatives are perceived as more processed compared to whole-food chicken eggs, posing a challenge for the acceptance of precision fermented eggs.
Industry Implications
1. Biotechnology - Formo's development of animal-free dairy products using precision fermentation falls within the biotechnology industry.
2. Food and Beverage - Precision fermented eggs are set to disrupt the egg market within the food and beverage industry.
3. Alternative Protein - Formo's precision fermented eggs provide an innovative solution and create opportunities within the alternative protein industry.
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