Meat production without livestock. A way to feed the world ?

Not only is food production a limiting factor for the carrying capacity of planet earth, but livestock is one of the main contributors to environmental pollution.
The University of Uetrecht in the Netherlands grows pork meat from stem cells. While it is still a long way to go until we'll find lab made steaks on restaurant menus, it seems to be a technology that could tackle a number of challenges humanity is facing.
Do you think lab made meat will eventually replace livestock ?
Could this technology solve starvation problems around the world ?
What downsides, if any, do you see in lab made meat ?

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Animals & Nature
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@1935902

the land that livestock live on would most likely be converted into farmland. so not only would the cows old food resource be available to us but we would also have new lands for even more resources.

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