Cultured Meat - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Cultured Meat Market is accounted for $72.60 million in 2018 and is expected to reach $291.44 million by 2027 growing at a CAGR of 16.7% during the forecast period. The rise in consumer demand for perishable foods and the requirement of food safety & taste consistency are the factors driving the market growth. However, more energy consumption & infrastructure costs are some of the factors restraining market growth.
The cultured meat is a type of meat which is produced from in vitro nature cell. This meat is produced by taking different cells from various animals and growing them in a medium that is rich in nutrients. These cells can be multiplied to a great extent and a single cell can be used to manufacture a good amount of meat. In order to manufacture this meat in a bulk quantity, various steps are needed to be taken into consideration. The cultured meat is the most favored solution around the globe for increasing the meat requirement ever. These meat products also provide with the favourable level of saturated fat and reduce the environmental impact. Cargill (U.S.) which is one of the key players of the protein market has committed to invest and grow its traditional protein business which is derived from an animal.
Based on the source, the poultry segment is going to have a lucrative growth due to the growing popularity of poultry products in various quick-service restaurants (QSRs) has encouraged manufacturers to develop innovative alternative products to meet the future demand from meat consumers. The cultured chicken products are expected to have a lower price as compared to other sources and gain wide popularity around the globe.
By geography, North America is likely to have a huge demand due to the rise in innovations and developments, and high spending for efficient R&D is expected to be the contributing factor in its largest share. Health concerns about the consumption of meat products increase in investor interests in alternative proteins, and potentials to provide the required nutrition in tailor-made proteins are the major factors for the consumers to shift from conventional meat to cultured meat products.
Some of the key players in Global Cultured Meat market include Wild Type, SuperMeat, Shiok Meats, Seafuture Sustainable Biotech, New Age Meats, Mosa Meat, Mission Barns, Memphis Meats, Meatable, Lab Farm Foods, Just Inc, Integriculture Inc, Higher Steaks, Future Meat Technologies Ltd, Fork & Goode, Finless Foods Inc, Cubiq Foods, Bluenalu Inc, Biofood Systems LTD, Balletic Foods, Avant Meats Company Limited, Appleton Meats, and Aleph Farms Ltd.
• Cell Culture Media
• Scaffold-Based Technique
• Scaffolding and Structuring
• Self-Organizing Technique
• Foodservice Channels
• Food Retail
End Users Covered:
• Hot Dogs
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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