Plant-based meat
An infant industry with great potential
One of the largest contributors to climate change is animal agriculture, whose share of anthropogenic greenhouse gas emissions (GHGs) is 14.5%. To make matters worse, methane, a GHG 34 times stronger than carbon dioxide, makes up a plurality (44%) of animal agriculture emissions. However, relative to carbon dioxide and other GHGs, methane is incredibly short-lived in the atmosphere. This means that emissions reductions in this sector will reap positive results in a fairly short period of time compared to those in others.
The simplest solution would be for humans to stop consuming meat altogether, a choice I and many others have made, but given that this has been a habit of humans for thousands of years, some strong enticement will be required to get the majority on board. Attempts to address this challenge have led to a proliferation of companies in the nascent plant-based meat industry such as Impossible Foods, Beyond Meat, Motif FoodWorks, and Novameat.
Through the clever manipulation of biology, chemistry, and physical structure, these companies seek to make products that are indistinguishable from conventional meat. Thus far, these companies are displaying great initial success with retail sales of $7 billion in 2020 and, with the global meat market anticipated to be worth as much as $2.7 trillion by 2040, the potential for growth is massive.
As they strive to seize a significant portion of this market, these companies must contend not only with entrenched players, but also other aspirants employing alternative technological solutions such as lab-grown meat. Regardless of who wins, the ensuing battle for dominance will drive a renaissance in an industry long overdue for a shakeup.
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Notes:
http://www.fao.org/news/story/en/item/197623/icode/
https://www.c2es.org/content/short-lived-climate-pollutants/
https://www.theguardian.com/food/2020/jan/10/most-realistic-plant-based-steak-revealed
https://www.cbinsights.com/research/future-of-meat-industrial-farming/