New York — The alternative meat market is poised to rise to $240bn over the next two decades as new technologies gain ground and consumers change their diets, according to investment banking company Jefferies.
Plant-based meats, such as those produced by Beyond Meat, are currently leading the category but lab-created “cellular” meat could overtake its plant-based counterpart, Powell said. “The cellular-based alternative industry has the potential to grow fast off a small base and could quickly start mass producing real meat if it can reduce costs and industrialise the current lab-based approach.”
Investments in lab-created meat companies have trailed their plant-based peers as commercial products have yet to emerge. Private cell-based meat firms received $50m in new investments in 2018, according to data compiled by Good Food Institute, compared to more than $500m for plant-based food producers.