Report predicts 60% of the world's meat will come from vegan and cultivated sources by 2040
The future of meat consumption is changing.
By Milo Runkle
A recent report by GovGrant predicts that by 2040, 60% of the world's meat intake will be from vegan or cultivated sources. Cultivated meat, also known as lab-grown or cultured meat, uses animal cells grown in a lab setting to make a food product. The process is slaughter-free and offers benefits such as using less land and water, emitting fewer greenhouse gases, and reducing pollution caused by agriculture.
The report shows that the United States is currently leading the way in investment in the global cultivated meat sector, with over 60% of the world's investment in cultivated meat coming from the country. Israel, the Netherlands, Singapore, and the United Kingdom make up the rest of the top five countries invested in cultured meats.
The rise of cultivated meat will undoubtedly have an impact on traditional meat consumption. GovGrant predicts that by 2040, cultivated meat will make up 35%of the world's meat consumption, while vegan meat replacements will comprise25%. This shift in meat consumption patterns will be due to the increasing availability of vegan options and the success of cultured meat products.
Although the introduction of cultivated meat to restaurant tables and grocery stores is imminent, vegan meat replacements are already available in the health food section of most grocery stores. Vegan meat and fish replacements have become more popular in recent years, with brands like Beyond Burger and fishless fish becoming household names.
The report suggests that companies will continue to innovate and perfect their products, as there is a potential demand for cultivated meat. As more countries become involved in the development of cultivated meat, there will be an uplift in the number of producers. The report highlights the importance of companies protecting their assets as the market for cultivated meat expands.