What Decameal Is Really Doing
Decameal is not “another alt-protein.” It’s a feedstock arbitrage on an invasive species (Carcinus maenas) plus a process innovation to concentrate usable protein, oils, and minerals.
Composition: Base meal ~>43% CP, concentrate targeting ~55–60% CP. Built-in calcium (~10–15%) and astaxanthin (pigment), with marine DHA/EPA.
Use case fit: Layers benefit immediately (shell quality from Ca, yolk color, DHA eggs). Broilers can take modest inclusion for amino acid balance and functional fats.
Footprint claim: Local, invasive biomass → lower CO₂ than soy/fishmeal and a cleaner ESG narrative.
Investor note (brief): Early-stage, grant-heavy cap table: InnoFounder, Rockstart (pre-seed), AgriFoodTure grant (~DKK 4.2M), EIT Food cohort. Equity dollars are small; non-dilutive capital de-risked the pilot.
Founded in 2022 by a team of marine biologists in Denmark, Decameal ApS has grown from a university project into a small but credible player in the alternative protein feed space. The five-person company has progressed through Denmark’s innovation ecosystem step by step: first with an InnoFounder accelerator grant in 2022, then pre-seed backing from Rockstart AgriFood in 2024, and most recently a €560,000 grant from AgriFoodTure in early 2025 to fund pilot-scale production. Later that year, Decameal joined the EIT Food Accelerator cohort, gaining access to European networks and industry partners. While its total equity capital raised to date is modest at just $0.12 million, the company’s trajectory underscores how non-dilutive funding and institutional support have carried it from concept to revenue stage without heavy venture dilution—a signal of both discipline and public-sector confidence in its sustainability thesis.
The Economic Engine: FCR, Not Just Protein Percent
Quick explainer: Feed Conversion Ratio (FCR) is pounds of feed per pound of gain. Every 0.01 FCR shift is meaningful at scale. Protein source decisions matter when they change FCR, mortality, or uniformity—or unlock premium SKU pricing (e.g., omega-3 eggs).
Implication: Crab meal doesn’t have to beat soy on $/ton. It must earn its keep via:
Equal or better FCR/ADG at 3–10% inclusion,
Lower additive spend (pigments, some minerals),
Marketing uplifts (enriched eggs, local/sustainable feed),
Compliance insurance (deforestation-free inputs).
Bottom line: Total economics per bird, not spot price per ton, decides adoption.
The Real Bottlenecks: Scale and Consistency, Not Science
Academic and field trials are directionally supportive:
Layers (≈5% crab meal): No negative performance, darker yolks, higher DHA in eggs; shell quality intact.
Broilers (shrimp/crab by-product analogs): Tolerated to ~10% inclusion before energy dilution from ash/chitin bites.
Translation: Nutrition works at moderate inclusion if diets are balanced for lysine and Ca:P.
The bottlenecks are operational:
Biomass logistics: Can you aggregate invasive crabs predictably across seasons and weather?
Process repeatability: Protein %, ash, oil profile need tight spec windows to keep formulators happy.
Throughput CAPEX: Grinding, decalcifying/fractionating, and QA at commercial cadence.
Value Prop by Segment
Layers (near-term winner):
Benefits: Calcium + pigment + DHA → fewer SKUs in the premix, premium egg positioning.
Playbook: Start at 3–7% inclusion; measure yolk color score, shell quality, and egg DHA label claims.
Broilers (selective, managed):
Benefits: Amino acid diversity + functional fats; potential welfare/story halo.
Constraints: Ash/chitin require careful formulation; stay ≤10% unless using concentrate.
Organic & specialty feeds:
Best fit: Immediate brand and compliance upside; price tolerance for footprint claims.
Where It Competes (and Coexists)
Soybean meal (~44–48% CP): Cheap, abundant, but no DHA/pigments and deforestation optics. Hard to replace entirely; easy to supplement strategically.
Fishmeal (~65% CP): Gold standard amino profile but pricey and volatile. Crab concentrate can offset some fishmeal in breeder/starter phases.
Crab meal (Decameal): Sits between soy and fishmeal on CP; adds DHA, Ca, pigment and ESG differentiation. Intended as a supplement, not a base.
Executive takeaway: Think portfolio—blend 2–3 proteins to optimize cost, performance, and compliance.
Excitement vs. Skepticism: A Balanced View
Why be excited
Functional stack in one ingredient: Protein + DHA + pigment + Ca reduces separate additives.
Compliance hedge: Deforestation-free narratives and local sourcing.
Brand offensive: Omega-3 eggs and “restorative feed” resonate with retailers.
Where to be skeptical
Supply math: Invasives are abundant until…they’re not in your catchment when you need them.
Spec drift: Shell fraction swings can push ash/Ca up and dilute energy.
Cost curve risk: Early-stage throughput may sit above fishmeal until scale.
Mitigations
Lock multi-site catch and cold-chain buffers.
Target concentrate SKUs for broilers; keep base meal to layers.
Tie price to performance KPIs (FCR, yolk score, broken shells, additive offset).
Practical Playbook: How to Trial This Well
Design the trial like a CFO and a nutritionist co-authored it.
Formulation
Layers: start 3–7% crab meal; measure yolk color, shell thickness, breakage, egg DHA.
Broilers: cap ≤10% (or use concentrate); balance lysine and Ca:P.
Metrics (must-track)
FCR / ADG / mortality / uniformity
Additive displacement: pigments, calcium carbonate, omega-3 sources
Processing outcomes: breast yields, downgrades
Commercial
Create a retail/brand test (DHA egg claim, “invasive-to-ingredient” story).
Price crab meal on delivered $/bird outcome, not $/ton.