China Is The New Market For Israel’s Lab Grown Meat

China has inked a deal with Israel that is expected to give Israeli high-tech vegan meat companies an opening into the world’s most populous country, reports the World Economic Forum.

The report quotes Bruce Friedrich, head of The Good Food Institute (GFI), “It is a colossal market opportunity,” He also adds that this initiative could put lab-made meat onto the radar of Chinese officials who can steer billions of dollars into this technology.

The $300 million trade agreement, announced on 11 September goes hand-in-hand with a new policy of the Chinese government in which it committed to nudging its citizens to eat less meat and eggs. The animal agriculture industry is a major contributor to global emissions and a growing problem in China.

As per the article, the move proves to be an opportunity for companies racing to get lab-made meat—the kind being produced fibre-by-fibre in laboratories—to market. As of now, only eight companies in the world are working to produce a scalable version of this high-tech, vegan meat and three of them are in Israel.