Cultured Meat and More: The Potential Shift From Farm to Lab

November 2022

Cell-cultured meat’s journey towards our plates took a leap forward at the end of 2020, when Singapore became the first country worldwide to allow its sale. The likelihood of further markets joining suit has intensified since then, as has the activity of major meat companies in the space. This report examines what stage cell-cultured meat’s development has reached, and why - and how - it is likely to be a significant part of global meat consumption in future.

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This report comes in PPT.

Key Findings

Meat is money; the size of the prize is vast

The commercial opportunity for cell-cultured meat is huge. Global total volume sales of all meat exceed 250 million tonnes per year. Even the (much smaller) processed meat category reached USD177 billion in retail sales value on a worldwide basis in 2021 - and these are the kinds of products easier to create via a cell-culture process, such as burgers, sausages, etc.

Meat majors are increasingly involved

Meat companies have been investing in cell-cultured start-ups for a number of years. In 2022 however, a new benchmark was set, when JBS completed the purchase of Spanish cultivated protein company BioTech Foods and announced a USD100 million spend on facilities.

Singapore was first, but there are many that may follow suit

In late 2020, Singapore became the first country to allow sales of cell-cultured meat and, as yet, remains alone in doing so. Its motivations included greenhouse gas reduction and food security; there are 122 markets worldwide with a net zero/carbon neutral/climate neutral target date of 2050 or sooner and (more than) 28 where food Imports are over 30% of food production.

Look to the future, as the young come onboard

Reluctance to consume cell-cultured food may diminish over time, as today’s younger adults are the most open to both GMO and “artificial” ingredient food technologies. They are also more likely to be eating plant-based meat alternatives for the environment or for animal welfare, motivations also addressed by switching to cell-cultured meat.

The premium price problem looks to be receding at pace

Achieving comparable prices is hugely important - if cell-cultured meat is more expensive, the potential consumer base becomes reduced to those willing to pay a premium for ethical or environmental claims. Israel’s Future Meat Technologies is out in front, saying it can produce a 110g cultivated chicken breast for USD1.70, a far cry from the USD300,000 cost of the first cell-cultured burger.

Key findings
Cell-cultured meat: The definition
Timeline: Key developments
The size of the prize: Meat
The size of the prize: Seafood, dairy and beyond
Looking towards a potential cell-cultured future for meat
Processed meat-only projections
Beyond processed: Beef and poultry as part of projections
Forecasts suggest 10% of meat could be cell-cultured by 2040
The challenge to plant-based alternatives
Singapore: The first domino
Other countries look to follow suit
Brazil meat giants invest in a cell-cultured future
US gets closer, with regulations and start-ups
The greenhouse gas motivation
Questions over sustainability linger, but perception is positive
The food security motivation
Combination motivations make for a powerful impetus
The million (billion?) dollar question: Will consumers eat cell-cultured food?
The ‘natural’ question
Animal eating restrictions
The future looks brighter as younger adults are more open
The “ick” factor
Price parity push proceeds
What’s in a name?
USDA consultation brings opposing views on naming
Aleph Farms targets 2022
Mosa Meats, the pioneer pursuing “openness”
Upside Foods (formerly Memphis Meats) goes EPIC
BlueNalu targets 2024/2025 for large-scale manufacturing
Future Meat Technologies claims to break USD5
Shojinmeat Project, the DIY disruptor
Finless Foods finds plant-based “along the way”
Ivy Farm seeks sausage launch
BioMilq, TurtleTree and Wilk race for the dairy (and human) prize
Coming to a menu near you
Case study: JBS prepares for the future
Strategic recommendations
Think about the Future

Staple Foods

NOTE: Couscous, polenta and quinoa are excluded from staple foods.

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