Lab-grown meat, first introduced six years ago in the form of a $2,80,000 hamburger, could hit supermarket shelves at $10 a patty within two years, European start-ups said.
Consumers concerned about climate change, animal welfare and their own health are fueling interest in so-called clean meat, with the number of associated business start-ups climbing from four at the end of 2016 to more than two dozen two years later, according to the Good Food Institute market researcher.
Plant-based meat alternatives are also booming.
It was Dutch start-up Mosa Meat's co-founder Mark Post who created the first “cultured” beef hamburger in 2013 at a cost of $280,400.
Biotech Foods co-founder Mercedes Vila also highlighted the importance of moving from lab to factory.
She said the average cost of producing a kg of cultured meat is now about €100, significantly below the $800 cited a year ago.