A new report predicts that by 2040, 60 percent of global meat consumption will be plant-based or cell-based.

By 2040, more than half of the meat we eat will no longer come from farmed animals. Instead, it will come in the form of plant-based or lab-grown proteins, according to a new report published by UK intellectual property specialist GovGrant.

Companies in the new protein industry are expected to continue to make progress and break down more barriers associated with plant-based and cell-based meat in the coming years, according to the GovGrant report. Specifically, GovGrant predicts that by 2040, cell-cultured meat will account for 35% of world meat consumption, while plant-based meat will account for 25%—leaving more and more room for our traditional methods of meat production. Small.

Over time, the proportion of conventional meat (dark green) versus plant-based meat (green) and cell-based meat (light green) has changed.

Adam Simmonds, a research associate at GovGrant, said in a statement:
“With such a huge potential demand for lab-grown meat, it will only spur companies to further innovate and refine their products.” This could become an interesting growth area for the U.S. and other countries, especially because Not many countries have the expertise to produce this new protein meat. There is sure to be an increase in the number of producers looking to take advantage of the coming boom in demand. ”

The United States is currently leading the development of cell-cultured meat.
Cell-cultured meat, which uses small amounts of animal cells and grows them in a laboratory setting to make food. The benefits of cell-cultured meat are huge, with life cycle assessments showing that it will use less land and water, emit fewer greenhouse gases, and reduce agriculture-related pollution and eutrophication, and no longer need to face feeding Ethical issues related to the slaughter of animals.
As the cell cultured meat industry is expected to grow rapidly in terms of market share in the food industry, the report highlights countries poised to lead the development. According to the report, the U.S. now accounts for more than 60 percent of global investment in cell-based meat — more than all other countries combined — and crossed the billion-dollar mark in the process.

The report also predicts that the development of the new protein market will also progress very rapidly, and the European market is expected to be worth USD 818 million by 2026. However, this is far behind China and North America. By 2026, the market size is expected to be 14.8 billion US dollars and 4.4 billion US dollars respectively. China ranks first, and its share will far exceed the second-ranked North America by three times.