New analysis predicts that Europe's cell-based meat market could deliver between €20 billion and €85 billion in annual economic contributions.
The research by Systemiq, in collaboration with GFI Europe, emphasises cultivated meat's potential to transform the EU’s economy and environmental footprint. According to the analysis, cultured meat could create between 25,000-90,000 jobs across the EU by 2050.
However, the research states that his growth hinges on crucial steps and will require an estimated €5 billion in annual investments from the EU. It goes on to predict that globally, the industry could be valued at around €510 billion, with necessary global investments reaching €55 billion annually until 2050.
The authors state: “Cultivated meat is still nascent, however it has the potential to bring us closer to reaching taste and texture parity with traditional meat and seafood products, if some key technology, regulatory and investment hurdles can be overcome”.
The report points out that 'significant chemical and biological engineering challenges remain to further reduce costs and increase yields’ of cultured meat production.
It selects the following as ‘key research priorities’ for cultivated meat:
🥩 Cell line development to achieve faster cell growth, greater stability and stress tolerance and higher cell density in terrestrial and aquatic cell lines
🍗 Reduced cell culture media costs by bringing down the cost of growth factors and sourcing amino acids from cheap plant hydrolysates and other sources
🥩 Increased bioprocessing efficiency via innovations in bioreactor design and media utilisation strategies to achieve greater scale and bring down costs
🍗 Improved scaffolding biomaterials that support cell adherence and differentiation, allowing for the replication of complex animal meat structures
EU governments must increase investment
The report calls for a supportive regulatory and policy framework to unlock the potential of cultivated meat in the EU. It recommends that at least €500 million of the required €5 billion annual investment should come from public funding, with 40% earmarked for R&D and 60% for infrastructure. This, the authors argue, is essential for attracting private capital and driving sector growth.
The analysis also highlights opportunities for countries like Germany, Spain, France, and Poland to become key players in the sector by developing domestic markets and biomanufacturing capabilities.
Top image: ©France's Vital Meat's cultured chicken
#GFIEurope #GFI #Europe #Systemiq
Phoebe Fraser
14 October 2024