Steakholder Foods, formerly MeaTech 3D, Shows Resilience and Fiscal Responsibility in Q1 2022 Financial Report
Q1 report confirms the company is on track for commercialization and highlights strong management leadership
Steakholder Foods, formerly MeaTech 3D (Nasdaq: MITC), is a global group of deep-tech food companies developing the advanced biotechnology and 3D printing capabilities to produce delicious, nutritious real meat products made from cells, rather than slaughtered animals. The company has set out to circumvent the environmental and ethical issues facing conventional animal husbandry, such as a large carbon footprint, unsustainable water and land usage, and animal cruelty. By developing the technology to produce what they believe will be an authentic high-quality alternative to farm-raised meat, MeaTech is positioning itself to benefit from a growing alternative protein market.
The cultured meat opportunity
The global cultured meat market is in the early stages of growth. Kearney expects the market to grow at 41% p.a. between 2025 and 2040, leading to a 35% global meat market share and a $US630 billion revenue opportunity. That’s well in excess of the 12% p.a. compound growth rate expected by the FAO for global meat consumption between 2020 and 2029 which will be driven by population growth and wealth accumulation.