A Peep into the Future of Cultivated Meat Production in 2022 in Market Figures
As 2022 slips in, it seems just right to examine market trends and project what the future looks like. In terms of Compound Annual Growth Rate (CAGR), the market is projected to grow from 20121’s $127.67 million to about $275.59 million by 2025. While trends in the industry have only been concentrated to certain parts of North America and Asia alone, we expect full global acceptance in about a decade or less.
On the other hand, global meat consumption should rise by 12% over the span of a decade, beginning from 2020. By 2050, the world should be consuming about 460 to 570 million tons of meat.
Lab-Grown Meat Poses to be a Potential Challenge to Livestock Farmers in 2022
When you think about cell-based meat, do you visualize chicken or beef grown in laboratories alone? No, the scope is way broader than that. It spreads from cultivated pork to tuna, shrimp, and even cat treats. Little wonder the community of livestock farmers feels threatened. Considering obvious implications, it is only fair for them to think so.
It is true that the livestock production industry is already facing notable challenges – Ones that have triggered huge concerns and call for future restructuring. Of all these concerns, global warming seemed to be the heaviest, but that was soon bound to change.
While most of us are thrilled by the recent innovations and successes in cultivated meat production, farmers are not finding it funny. Livestock farmers, ranchers, and other related persons in the industry are beginning to shift their gaze from what could be the basic of all threats to something more market-based. Undoubtedly, everything interprets that sooner or later, there may no longer be a need for them.
The twist to all of this is that the evolution of cultivated meat production eliminates most global warming and ecosystem sustenance issues, which have been a priority challenge on livestock farmers' lists. Essentially, the foremost justification for embracing lab-grown meat production is that it eliminates most global warming issues.
Talk of the high level of carbon emitted annually while sustaining livestock growth. Or the huge amounts spent on growing animal feed, as well as the energy and other resources invested. Cumulatively, livestock production is accountable for about 14.5% of all greenhouse gas emissions. That's enough to push global warming at a significant rate. All being said, the whole world is waking to the bitter truth that livestock farming will not be a sustainable source of animal protein in coming years.
If there is any comfort for livestock farmers, it is that the cultivated meat industry still has a long way to go. Being only a budding sector, it will take years more of research and experimentation before it can find its feet enough to significantly displace livestock farming. Nevertheless, the future of lab-grown meat production is bright, and we can't deny that it is a real threat to workers in the livestock production industry.
