Lab-grown Meat

• [New] The rise of veganism continues to grow as the year of 2021 will be the year of lab grown meat.
• Over the next ten years, cultured meat and seafood could become cost competitive with conventional animal proteins.
• According to the Economist, more than 50 startups are working on cultured-meat products of various kinds, including burgers, chicken nuggets, shrimp dumplings and steak, and in 2021 consumers will be able to try lab-grown meat for themselves.
• Dutch company Mosa Meat and Spain-based Biotech Foods expect the price of producing a lab-grown burger patty to drop to $10 by 2021 - down from $271,000 in 2013.
• By 2040, 60% of the meat products humans consume will either be plant-based replacements or lab-grown meats.
• If plant-based and lab-grown meats continue to be loosely identified as meat, they could make a dent in the $110 billion U.S. meat market.
• China has signed a trade agreement with Israel worth $300 million that will see the country import lab-grown meats produced by three companies.
• The plant-based or lab-grown meat market could surge to $140 billion in the next decade taking about a10 percent bite out of the global meat industry.
• Only 40 per cent of the global population will be consuming meat by 2040, with 35 per cent eating clean lab-grown meat and 25 per cent using vegan-meat replacements.
• Lab-grown meat market could be worth $85 billion by 2030.
• Lab-grown meat will be eaten by more people than organic meat.
• An EU study predicts lab-grown meat will use 99.7% less land.
• For lab-grown meat, expected to hit shelves in 2021, it's a still-respectable rate of 70 percent.
• By 2040, 60 percent of all meat consumed globally will come from lab-grown substitutes or plant-based alternatives.
• Lab-grown meat could hit supermarket shelves at $10 a patty within two years.
• With a population of about 1.34 billion, India will likely need more protein products to keep pace as recent reports have warned that major changes are needed to feed the world's population by 2050.
• The Organization for Economic Cooperation and Development estimates that the demand for meat in North America will increase by 8 percent between 2011 and 2020, in Europe by 7 percent and in Asia by 56 percent.
• Lab-grown hamburger costs have since dropped precipitously, and one cultured-meat startup, Memphis Meats, has said it expects to have a product in stores by 2021.
• While lab-grown meat may not be one of the F & B trends to take off this year, commercial launches could come to fruition over the next 1-3 years.
• Alternative proteins should be a wake-up call for the meat sector, which warns plant-based burgers and lab-grown meat could pose a major threat to red meat sales in the next five years.
• The ultimate entry in the meat arena may well be the commercialization of cultured or lab-grown meat, which might hit the market in 2019.
• Several companies are working on clean lab-grown meat - a segment that will hit $15.5 million in just three years when it enters retail.

Last updated: 24 January 2021