Cultured meat, or the use of animal cells grown to create lab-grown meat products, has been a hot topic in recent years, with big milestones such as its commercialization in Singapore in 2020 and, recently, regulatory approval in the United States.
So, when will cultured meat hit local supermarket shelves? The good news is that commercialization may be imminent for several players in the industry, with IDTechEx’s “Cultured Meat 2023-2043” report forecasting that the market will exceed US$2 billion by 2033. However, achieving this at scale still requires overcoming large barriers.
The first barrier for cultured meat is regulation. Across the world, regulators have made good progress since the emergence of the industry a decade ago. The leader is Singapore, who approved Just Eat’s Good Meat products back in 2020. To date, Just Eat’s product has remained the only commercially available cultured meat product globally. However, this will soon change: several other leading players are also looking to enter the Singapore market. On the other side of the world, regulatory approval from the US Food and Drug Administration (FDA) for UPSIDE meat’s product indicates that the US market is opening soon.
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