A brief overview of the plant based & cultivated meat industry
The plant-based meat and cultivated meat industry is a rapidly growing sector that seeks to provide consumers with meat alternatives that are more sustainable and ethical than traditional animal-based meat. Plant-based meat is made from plant-based ingredients such as soy, wheat, and pea protein, while cultivated meat, also known as lab-grown or in-vitro meat, is produced by growing animal cells in a laboratory.
The market for plant-based meat is projected to reach $85 billion by 2030, with the majority of growth coming from Asia and North America. The market for cultivated meat, on the other hand, is still in its early stages and is projected to reach $140 million by 2027.
One of the major drivers of the plant-based meat market is the increasing awareness of the environmental impact of animal agriculture, as well as concerns about animal welfare. Plant-based meat requires significantly less water and land to produce than traditional animal-based meat, and it generates fewer greenhouse gas emissions.
Cultivated meat, also known as clean meat, is another alternative to traditional animal-based meat that is expected to grow in popularity. The production of clean meat requires significantly less land and water than traditional animal agriculture, and it also generates fewer greenhouse gas emissions. Additionally, it is expected to reduce the risk of food-borne illnesses and the use of antibiotics.
Some of the major companies operating in the plant-based meat industry include Beyond Meat, Impossible Foods, and the Meatless Farm Co, while the major companies operating in the cultivated meat industry include Mosa Meat, Memphis Meats, and Just Inc.
In conclusion, the plant-based meat and cultivated meat industry is expected to experience significant growth in the coming years, driven by increasing awareness of the environmental impact of animal agriculture and concerns about animal welfare. These alternatives to traditional animal-based meat are expected to provide more sustainable and ethical options for consumers, while also reducing the environmental impact of meat production.
