This report offers unique insight into a ground-breaking year for the plant-based food industry. GFI’s industry-leading analysis delves into retail sales data, new product development, investment analytics, scientific and technical advancements, consumer insights, regulatory developments, and more.
The interest for artificial meat has recently expanded. However, from the literature, perception of artificial meat in China is not well known. A survey was thus carried out to investigate Chinese attitudes toward artificial meat. The answers of 4666 respondents concluded that 19.9% and 9.6% of them were definitely willing and unwilling to try artificial meat respectively, whereas 47.2% were not willing to eat it regularly, and 87.2% were willing to pay less for it compared to conventional meat. Finally, 52.9% of them will accept artificial meat as an alternative to conventional meat.
But there is a rising star on the alternative protein scene—a versatile platform that is simultaneously familiar and well established yet completely underexplored and untapped for its true potential within the alternative protein sector. Microbial fermentation can create a novel center-of-plate experience as a standalone ingredient or provide a functional or sensory boost so subtle that the consumer may be oblivious to its behind-the-scenes magic. The adaptability of fermentation enables it to play across virtually the whole alternative protein landscape, expanding product categories in unique ways while also empowering plant-based and cell-cultivated approaches to meet consumer expectations for taste, price, and accessibility.
Synthetic meat is produced by in vitro animal cell culture through tissue engineering techniques. The synthetic (cultured) meat is produced by accumulating cells from an animal and developing them in an enriched and favorable medium. The final meat produced is thus free from any of the harmful organism as it is grown in aseptic and strictly controlled environment. Hence, the cultured meat can be the answer to increasing meat consumption projections with the added bonus of reducing the negative effects of conventional meat agriculture and production. Thus, the global synthetic (cultured) meat market is expected to rise at a CAGR of REDACTED during the forecast period.
The global alternative meat market is forecast to keep growing in the US, helped by increasing interest in diets such as vegetarian, vegan and flexitarian. According to GlobalData, the alternative meat market was worth US$3.8bn in 2018 and is forecasted to grow at a compound annual growth rate (CAGR) of 6.32%, reaching US$6bn by 2023.