This mission seems to be becoming reality,
demonstrating the speed at which advances in
biological science are fueling awave of innovation.’Since developing the first prototypes,companieshave been able toreduce production costs by99percent.In late 2020,at an upscale club inSingapore-the only country thus far to approveconsumption of cultivated meat-diners feasted forthe first time on crispy sesame chicken with thecentral ingredient grown from animal cells.Regulatory bodies in the United States have
announced agreements to regulate the product,while the European Union awarded a multimillion-euro grant for research.The industry,which atpresent comprises fewer than 100 start-ups,attracted roughly $350 million in investments in2020 and about$250 million thus far in 2021 fromsome of the largest animal-protein players,includinTyson and Nutreco,and well-known investors,including Temasek and SoftBank.
Alot has to happen for cultivated meat to becomeamajor industry-not least that tens of billionsof dollars need to be spent to scale it to even1percent of the global protein market.The focusof the next decade will likely be on provingcommercial viability,with modest marketpenetration.To succeed,the industry must
assuage potential concems around a novel foodwhile delivering deliciousness at theright price.
The future pace of adoptionand market size will
depend on five key factors:
一Consumer acceptance.Will diners dig intocultivated chicken nuggets and burgers and,eventually,filet mignon and salmon steaks?-Risks.How willthe industry address concernsabout health and safety,jobs,and possibleeconomic rippleeffects?
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