Food Technology: The Future Potential for Lab Grown Meat?

Lab-grown meat has yet to make it into the food market

No producer of lab meat has yet been successful commercially. Whilst some argue they expect to launch into retail outlets within 5-8 years, there is no indication that they can offer an affordable product that will meet the approval of the regulators which they can produce at scale. Transparency around product development timelines will be critical for manufacturers if they want to attract further investment.

Western Europe and Australia hold the biggest potential for lab-meat products

It is in markets such as the UK, Germany and Australia where ethical consumerism and health-consciousness are the most developed. These markets largely dictate global consumer food trends and should be the focus of lab meat producers in assuring their global viability in emerging and developing markets.

Diversification will be crucial for meat processors

For global meat processors, innovating in processed meat will not be sufficient to retain market share. The influx of plant-based start-ups offering “meatless meat”,the surge in interest in lab-grown meat and dairy and the demand for higher welfare meat will challenge the positions of the leading players. Diversification into such alternatives will be a key growth strategy here.

Consumer acceptance is too early to tell

Whilst the need for alternative methods of producing meat is evident, the widespread uptake of lab-grown meat is not guaranteed. Success is dependent on consumers’ perceptions, which may vary from market to market. Markets such as the US and Brazil, which have already shown a degree of acceptance of genetically engineered ingredients, could be useful entry points for lab-grown companies.