A bill has just been approved in Italy which bans the production and sale of synthetic meat, which is considered a valid alternative elsewhere where there are food supply problems. These are foods created from animal cells induced to reproduce artificially in special containers, a system that has received the green light in places like Singapore and Israel.
According to Statista, lab-created meats are expected to soon reach market maturity in other countries. In the United States, the Food and Drug Administration in November declared products from a first lab-grown meat company fit for human consumption. The company is now awaiting approval from the US Department of Agriculture before launching its first product, a chicken breast.
Meanwhile, an analysis by Market Insight from Statista shows that the market for meat alternatives remains a niche market. In fact, over the past 10 years, the global market for meat substitutes has grown by 48% annually. But its influence remains tiny compared to traditional meat production. In 2023, fresh and processed meat revenues are expected to reach nearly $1.3 trillion globally, compared to just $13 billion made in the meat substitute market.