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Fake Meat Likely to Touch $85Bn Worth by 2030: Report

The UBS Global Wealth Management has prepared a 67-page report that emphasizes on the commercial viability of lab-grown plant-based protein, also popularly known as ‘fake meat’. The report takes a cue from the fact that Beyond Meat Inc., the producer of “vegan burgers,” displayed remarkable performance in the IPO market. The company’s shares crossed a whopping US$200 in June as compared to the US$25 offering price.

“Mock meat was an almost comical fad 20 years ago. It’s no laughing matter today, given the industry’s meteoric rise in recent years,” said Wayne Gordon, Senior Asia-Pacific Strategist, UBS Global Wealth Management in the report. 

According to the group’s estimates, the fake meat market is highly likely to touch US$85 billion by the year 2030. It currently stands at US$4.6 billion. UBS report also predicts excellent growth for the agriculture technology market from the current US$135 billion to nearly US$700 billion.

The UBS report highlighted the fact that lab-grown food that replicates meat, fish, eggs, and dairy products has a lower carbon footprint. Also, evades the need to slaughter animals. It is therefore expected to be a commercially viable option over the next decade. 

The report further pointed out that the digital economy managed to reach only 0.3% of agriculture last year. However, it is expected to steadily increase, which is reflected by a surge in technology investment by 43% in 2018 to reach US$16.9 billion from what it was in 2017.

The UBS has also predicted a 16% growth for both smart farming and online food delivery in its 2030 outlook report. Meanwhile, the group forecasts 13% growth for the seed treatment sector and 9% for seed science. It also stresses investors to “diversify their exposure and own listed and unlisted companies alike.”

Currently, the agriculture sector comprises 40% of land use, 30% of greenhouse gas emissions, and 70% of freshwater consumption. These figures are mentioned in the UBS report, as cited by the UN. The report throws light on biological solutions of which lab-grown food is also one, among others such as vertical farming and artificial intelligence. 

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I am Christopher Roberts and I’m passionate about business and finance news with over 7 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind www.analystsmedia.com with a vision to broaden the company’s readership throughout 2015. Address: 3897 Logan Lane, Denver, CO 80202 Email: Christopher@analystsmedia.com Contact Number: (1) 303-285-1981