The market for synthetic meat - Italy

The global synthetic meat market is witnessing significant growth, with projections that the Chinese market may reach approximately $14.8 billion by 2026, slightly surpassing forecasts for the rest of the world's cultured meat market. Singapore marked a milestone at the end of 2020 by becoming the first country to sell cultured meat commercially. The industry's expansion is fueled by investments totaling $2.6 billion as of the end of 2022, with over 150 companies worldwide exploring cultured meat. Despite facing regulatory hurdles in countries like Italy, where a prohibition has been proposed against the production of food derived from cell cultures or tissues of vertebrate animals, the segment continues to evolve. Notably, UPSIDE Foods in the U.S. gained a "green light" from the FDA in November 2022 for its cultured chicken product. The anticipated environmental benefits, along with societal shifts brought about by the COVID-19 pandemic, are driving consumer interest towards sustainable and ethical food choices. This is mirrored in lifestyle changes among Italians, with around 30% regularly consuming certified sustainable food products. The industry faces technical and scaling challenges but aims to achieve price parity with conventional meat by 2030, following a trajectory similar to genome sequencing, where the cost of cultured meat has already plummeted by 99% since 2013 from about $300,000 per burger to $4 per ounce for chicken breast by 2021. Companies like Mosa Meat and Upsidefoods report turnovers in the tens of millions, indicating the market's nascent economic significance..Title: Navigating Italy's Emerging Synthetic Meat Landscape: Trends and Statistics Italy's market for synthetic meat, also known as cultured or in vitro meat, is on a trajectory influenced by global sustainability trends, advancing technology, and shifting consumer perceptions. Although still in its nascent stages compared to global leaders like the United States and Singapore, Italian attitudes towards synthetic meat display a combination of curiosity and hesitance. Surveys conducted reveal that Italian knowledge of synthetic meat remains relatively low, with only a third of respondents familiar with terms like "artificial meat." Nonetheless, the younger generation, particularly those between 15 and 20 years old, and individuals with higher education levels show greater awareness and openness to the concept. Environmental sustainability emerges as the major driving force behind potential synthetic meat consumption in Italy, cited by roughly 61 percent of consumers, followed closely by animal welfare concerns at approximately 60 percent. Additionally, about a third of the population is curious about the novel product, and nearly 38 percent recognize the potential health benefits over traditionally sourced meat. Despite the incentives, suspicion lingers around the unnaturalness of synthetic meat, with more than 65 percent of Italians expressing distrust of non-natural products. Concerns also linger around the taste and safety of synthetic meats, and for those with plant-based diets, the method of production using animal cells is a deterrent. During the COVID-19 pandemic, Italian consumer behavior has shown a shift towards more sustainable and health-conscious food choices, which could positively influence the future acceptance of synthetic meat products. Yet, the Italian market has seen minimal growth with only one startup, Bruno Cell, making strides in synthetic meat production as of 2022. The synthetic meat landscape in Italy faces a significant regulatory hurdle with the prohibition of cell-cultured food production of vertebrate animals, established by a bill from the Minister of Agriculture and Food Sovereignty. However, products produced legally in other EU member states may still find their way into the Italian market due to EU regulations on the free movement of goods. Despite its slow start, Italy is not disparate from the global anticipation for this emerging market. With synthetic meat companies achieving turnovers ranging from $2 million to over $20 million internationally, the Italian synthetic meat market is a sleeper in waiting, with potential to expand post-regulatory constraints and catch up with international trends. Italy's future involvement in this sector will largely depend on changing consumer perceptions, technology advancements, regulatory developments, and increased awareness and education on the benefits of cultured meat products..### Key Players Pioneering the Synthetic Meat Revolution The advent of synthetic meat has ushered in a new era in food technology, with start-ups and established enterprises around the globe racing to develop sustainable, ethical, and efficient alternatives to traditional meat. Among the trailblazers in this burgeoning industry are several companies that are making significant strides, each with its own unique approach to cultured meat production. **Upside Foods** (formerly Memphis Meats) has been a frontrunner in the synthetic meat industry. As a pioneer, Upside Foods has mastered the craft of producing cultured meat, including beef, chicken, and duck directly from animal cells. This company has attracted attention for being the first to receive the "green light" from the U.S. FDA for its cultured chicken product, signaling a significant regulatory milestone that will likely lead to commercialization in the United States. **Aleph Farms**, based in Israel, has positioned itself as an innovator with its focus on growing quality meat products that prioritize sustainability and animal welfare. Aleph Farms has garnered attention, particularly for developing a prototype of the world's first bio-printed steak, using a technique that doesn't harm any animals. **BlueNalu** has taken to the oceans with its mission to provide sustainable seafood alternatives. Concerned with the pressures of overfishing and ocean pollution, BlueNalu has concentrated its efforts on cultivating seafood products from fish cells, thereby creating a solution that doesn't deplete marine ecosystems. **Mosa Meat**, originating from the Netherlands, gained widespread recognition for producing the first cultured hamburger in 2013. Since then, the company has been relentlessly working on refining its technologies to reduce the cost of the meat to ensure it is accessible for the everyday consumer. The developments at these companies are seen not only as technological achievements but as symbols of a shifting perspective on what constitutes ethical and sustainable consumption. The collective efforts of these innovators are laying the groundwork for a future where cultured meat could significantly reduce the environmental footprint of the food industry, and provide consumers with new and, potentially, healthier options that are kinder to the planet and its inhabitants.

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• Number of pages : 30 pages
• Format : Digital and PDF versions
• Last update : 06/04/2023

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