The global market for cultured meat is forecast to reach $499.9 million by 2030, up from $133.4 million last year, according to Polaris Market Research.
Those forecasts will largely depend on companies overcoming the industry’s two biggest challenges – the ability to scale production and the ability to win regulatory approval from governments around the world.
Until this year, scaling production was likely the biggest hurdle. News from companies worldwide revealed that many took giant steps toward their production growth goals in 2021. Progress in that area outpaced progress toward overcoming the second big challenge – regulatory approval.
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Approvals will come on a country-by-country basis. In the US, the FDA and USDA began working together in 2019 to establish a regulatory framework for the industry and , last year, the USDA’s Food Safety Inspection Service solicited public comments, another step toward potential approval.
Perhaps even more telling – last October, the USDA announced plans to invest $10 million over five years to create the National Institute for Cellular Agriculture at Tufts University, perhaps showing that the agency, like the meat industry, could be buying into cultivated meat.
