Back in 2013, the emerging biotech field of lab-grown meat products held a tasting of a lab-grown burger which cost a staggering $330,000 dollars. The lab-grown burger was made out of genuine animal cells, yet it didn’t come directly from an animal, being cultured and grown in a lab.
While many people were skeptical that industries pursuing the development of cell-cultured meat would create an affordable product anytime soon, researchers and biotech companies say that they are approaching an affordable product.
Currently, a pound of lab-grown meat produced by the company Memphis Meats costs approximately 2400 dollars to make, and while this still seems expensive it’s a massive reduction from the over $300,000 that the meat cost only five years ago. Memphis Meats is hoping to have the cost of a lab-grown burger down to around $5 within a few years. Meanwhile, a startup called Future Meat Technologies, based in Israel currently produces around a pound of meat for approximately $360 and believes that they can reduce the cost down to somewhere between $2.30 to $4.50 by the end of the decade.
Lab-grown meat becoming affordable is a long-anticipated event by environmentalists and animal rights activists, as well as consumers looking for healthier/guilt-free options. Proponents of cultured meat argue that it mainly avoids the ethical and environmental impacts of regular meat ….
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