Neocrema Presents on 'Cultured Meat Production' at 2022 International Cell Culture Symposium

[Asia Economy Reporter Jang Hyowon] Neocrema announced on the 13th that it presented on the development of cell culture media for cultured meat production at the 2022 International Symposium on Cell Culture.

Since the 12th, an international symposium related to 'cultured meat,' which is attracting attention in the bio sector, one of the national key growth industries, has been held at the Cheonma Art Center of Yeungnam University.

According to a Neocrema official, this is the largest cultured meat symposium held in Korea, with over 1,000 pre-registered participants from academia, industry, government, and local governments.

Han Kisu, CEO of Neocrema, represented the industry and delivered the industry's voice regarding the commercialization of cell-cultured meat.

CEO Han stated, "Cell-cultured meat is gaining attention as a future food contributing to animal welfare and environmental pollution prevention, but domestically, there have been many regulatory challenges for commercialization. Neocrema has developed the world's first cultured meat media composed only of food materials with proven safety for cultured meat production, and plans to expand its corporate domain as a future new business field along with the growth of the related market."

Meanwhile, according to AT Kearney's forecast, although plant-based alternative meat is currently showing remarkable growth, the growth rate of cultured meat is expected to rise sharply from 2030. By 2040, cultured meat is projected to account for 35% of the meat consumption market. In monetary terms, this amounts to $630 billion (approximately 820 trillion KRW).