Lab-grown Meat 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. While, plant-based proteins and protein blends are already on the market, the first lab-grown meat, or protein produced from animal cells without an actual animal, could very well be in restaurants by the end of this year. With demand for meat and milk expected to increase globally 70% by the year 2050 lab grown meat generated by cleaner energy could allow more people to access high quality meat at a sustainably lower environmental cost. Lab-grown meat is not without controversy but could be a viable solution to satisfy the global appetite for meat and a growing world population. Less resource-hungry meat alternatives will be vital in decades to come. Edible insects, algae-based protein drinks and lab-grown "meat" will all become common. See full forecast Last updated: 05 July 2020 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No
