For years, the promise of cellular agriculture has hovered on the horizon. This approach encompasses cultivated meat, which is grown from animal cells in nutrient-rich media, and precision fermentation, which uses engineered microorganisms to produce fats, enzymes and proteins like egg whites and dairy proteins.
Critics have pointed to high production costs, regulatory roadblocks and consumer skepticism as reasons to doubt the sector’s long-term viability. But quietly, the industry has been forging ahead with remarkable speed and resilience, and the fundamentals, often portrayed as barriers, have shifted.
We are now entering a new phase — one where clean food technologies are not only scientifically feasible but commercially compelling. The cost of producing cultivated proteins has plummeted to prices that would have been unthinkable just a few years ago. At the same time, production efficiency has surged, bringing us closer to the long-awaited milestone of price parity with conventional meat.
A food system under strain
Clean food alternatives are growing increasingly important because the global food system is under unprecedented strain. Climate volatility, geopolitical shocks and resource scarcity are converging to make traditional agriculture more vulnerable and expensive. From sunflower oil and eggs to coffee and beef, prices are rising, and supply chains are buckling. Governments are taking notice, not just as a matter of sustainability, but as a strategic imperative. Food security is fast becoming a cornerstone of national resilience.
The war in Ukraine, droughts in South America and extreme weather across Europe and Asia this summer have all contributed to price spikes and shortages in staple ingredients. In the UK, beef prices have climbed steadily as cattle herds shrink due to drought and land-use pressures. Meanwhile, cocoa and coffee costs have surged due to erratic weather in West Africa and Brazil.
Conventional agriculture cannot shoulder this burden alone. Cultivated food technologies offer a complementary path and one that is more secure in the face of climate shocks and geopolitical instability.
Governments open the door
More than 20 governments, including major economies like China, India, the UK, Brazil and the US, have begun investing in or approving cultivated food technologies as part of national strategies to build more resilient food systems.
Even in the US, where some states have restricted cultivated products, federal regulators continue to greenlight new entrants. Recent approvals for companies like Wildtype, which produces cultivated salmon, and Nourish Ingredients, which produces precision-fermented fats, show that the momentum is real.
Some of the most active government support is coming from regions facing acute food security risks. The UAE and Saudi Arabia, for example, are investing heavily in biomanufacturing to reduce dependence on imports and improve climate resilience. Earlier this year Liberation Labs received a strategic investment from NEOM Investment Fund to help develop a precision-fermentation facility in Saudi Arabia.
Consumers are more ready than you think
One of the most persistent myths about cultivated food is that consumers aren’t ready. But the data tells a different story. Younger generations are increasingly motivated by sustainability, animal welfare and health concerns. They’re actively seeking alternatives to conventional meat and dairy.
In fact, recent surveys show that nearly half of Gen Z and Millennial consumers in Europe and North America are open to trying cultivated meat.
As consumer trends change, this translates into real demand. We’re already seeing this play out in the market. Products from dairy-free proteins to palm oil replacements are gaining shelf space and consumer traction. The success of companies like the pet food manufacturer Meatly shows that the demand is there.
Real companies, real products, real momentum
At Agronomics, we have invested in a range of companies that are already delivering real-world solutions across a number of vital food sectors. These companies include Meatable, which makes cultivated sausages, Clean Food Group, which is developing yeast-based oils to replace palm oil, and Onego Bio, which produces egg proteins made without chickens.
These companies aren’t just innovating; they’re commercializing. Products are moving from pilot labs to production facilities — and in several cases, onto supermarket shelves.
Some critics point to the struggles of early plant-based meat companies as a cautionary tale. But it’s important to distinguish between the two sectors. Agronomics never invested in plant-based companies — not because the idea wasn’t compelling, but because the quality and infrastructure were never there.
Cellular agriculture is different. The second wave is now coming from companies that spent years investing in Research and Development and comprehensive trials to ensure the technology — the IP that underpins the companies’ financial valuation — works and the taste, texture and nutrition are as good as or better than traditional farmed products.
Echoes of the renewable energy revolution
The parallels with renewable energy are striking. Just as solar and wind were once dismissed as too expensive, cultivated food is now proving its critics wrong. The sector is following a familiar curve: early hype, a trough of disillusionment, and now, a rapid climb toward commercial viability.
Growth media — the nutrient solution essential for cell cultivation — was once considered a major financial hurdle, with early projections estimating costs at scale to be around $6.50 per liter. That expectation has now been dramatically overturned. Companies are already operating with media costs nearing $1 per liter, and some are pushing even lower. UK-based Meatly, for example, reports costs as low as 22p per liter, signaling a major breakthrough in affordability.
Cell densities have also improved, meaning more can be grown in less space, with less energy.
Recent life cycle analysis from the Good Food Institute shows that cultivated beef uses 90% less land, consumes 66% less water and emits 92% fewer greenhouse gases. Similar efficiencies are seen across pork, chicken, dairy and eggs — with precision-fermented dairy, for example, using 93% less water and being 100 times more resource-efficient. When powered by renewable energy, these technologies offer a far more sustainable path forward, helping restore ecosystems and reduce pressure on natural resources.
These breakthroughs are driving down costs at a pace that mirrors the early days of solar panels and lithium-ion batteries. And just like those technologies, cultivated food is poised to benefit from economies of scale and learning curves that accelerate adoption.
Why now is the time to invest
So why invest now? Because the inflection point is here. Regulatory approvals are accelerating. Production costs are falling. Consumer demand is rising. And the need for climate resilience, food security and ethical alternatives has never been more urgent.
Cultivated food won’t replace conventional agriculture overnight. But it doesn’t have to. Even partial adoption can ease pressure on land, water and emissions. It can help stabilize food systems and create local jobs — and offer investors exposure to an important shift in the global economy.
At Agronomics, we’ve seen firsthand how quickly this sector is evolving. As a seasoned investor, my experience over decades has taught me that timing is everything. When it comes to addressing the planet’s food security issues, the time is now, and our window to act is closing.
As momentum accelerates, the question is no longer whether cultivated meat and precision fermentation will shape the future of food, but how quickly. Each new regulatory approval, government investment and scientific breakthrough underscores that the cultivated food sector is emerging as a vital solution to feeding a growing global population sustainably.
Jim Mellon is the executive chairman of Agronomics, a company focused on investment opportunities in clean food and biomanufacturing.
