Cultured meat companies Beyond Meat and Impossible Foods plan to go public next year – now their value is estimated by the market at $ 4 billion, and by 2030 the volume of cultured meat sales in the world, according to the McKinsey consulting company, could reach $ 25 billion.
Interest in this product is fueled by the fight against climate change. Traditional technologies of animal husbandry and meat production account for more than 40% of the annual methane emissions in the world, and they also use a lot of land and water resources. However, according to research group FAIRR, 86% of the world’s largest suppliers of meat and dairy products still have not set meaningful emission reduction targets.
As a result, the meat producers’ carbon footprint is receiving increasing attention from regulatory authorities: according to FAIRR, by 2050, carbon taxes could account for up to 55% of the current average EBITDA of meat companies. On the contrary, the segment of cultured proteins will grow rapidly: if in 2030, according to Credit Suisse estimates, it begins to claim 5% of the world meat market, then by the middle of the century it will account for 25% with a turnover of $ 555 billion.