The tipping point has almost arrived. Following news that 2020 saw a record $3.1 billion capital investment in alt protein, a first-of-its-kind report has been released this evening which suggests that Europe and North America could reach “peak meat” by 2025, from when the consumption of animal protein will be in decline. By 2035, just a decade later, it predicts that every tenth portion of food eaten globally will be made from alt proteins.
Global Biomanufacturing Capacity Must Grow 20X to Reach Industry Growth of $200 Billion by 2040, Says New Report
A recent report, co-authored by the New York-based biotech firm Synonym and Boston Consulting Group, has outlined a roadmap for the biomanufacturing industry, predicting a potential explosion to a $200 billion market in specialty sectors over the next ten years. The report Breaking the Cost Barrier on Biomanufacturing encourages the transition to biomanufacturing to address issues of sustainability and cost-efficiency in current industrial production methods. However, the report’s estimated $200 billion market value is focused on precision fermentation to produce food ingredients, chemicals, and chemical precursors. According to the authors, the figure is considered conservative and reflects only a fraction of the potential for growth within the industry. “The big problem—and the reason that precision fermentation remains an underused technology despite continuing advances in genome engineering and …