Market overview:

The Cultured Meat Market was valued at $206 million in 2022 and is estimated to reach $572 million by 2028, with a CAGR of 15% from 2023 to 2028.

Modern technology is used to culture meat in animal cells without harming any animals. A sort of meat called fermentation is created in vitro using natural cells. Animal cells are grown in a nutrient-rich medium during the fermentation process. These cells have the capacity to multiply to the point where each one could be utilized to produce enough meat for the entire world's population in a single year. Cultured meat is a big trend in the food and beverage sector as food makers get closer to meat replacement goods. Numerous phases must be taken into account in order to produce this meat in huge quantities. The favored method for boosting global demand for meat is aquaculture. Additionally offering a healthy amount of saturated fat and minimizing environmental impact, this beef product.

Market Drivers and Restraints:

The customer inclination for alternatives to animal products is what drives the global market for cultured meat. Consumer perceptions of meat consumption have been significantly impacted by the growing concern over animal maltreatment in the meat industry. Future expansion of the global cultured meat business will be significantly influenced by consumer awareness of environmental sustainability as a result of rising meat demand. Another factor that is anticipated to support the expansion of this market in the near future is the trend of investment in various sectors as a result of the advancement of technical culture. The first laboratory-grown hamburgers are pricey, but soon researchers created affordable fake beef that was as tasty. In the upcoming years, it is probable that they will contribute to market growth. Industrial farming is a problem that is thought to be solved by cultured meat. This type of meat can solve several environmental issues while also enhancing animal welfare. As customer tastes shift to ecologically friendly products that promise animal welfare, this is a key factor driving the market during the 2019–2024 projection period. Over the course of the forecast period, market expansion is anticipated to be aided by rising meat consumption and a desire for meat that is nutritional. When compared to other sources, synthetic poultry has the most practical in vitro manufacturing technique, which is a key factor in the market's expansion. The streamlined cell shape, which makes it simpler for replication in synthetic media, is credited with this. It can be difficult for the market to accept cultured meat's unique texture. This element is crucial in determining whether consumers will eat meat from aquaculture.

This level of acceptance is thought to be influenced by political ties as well. With the introduction of synthetic meat products to the market, it is predicted that social and environmental sentiment would play a significant role in improving customer acceptance. In order to meet customer demand, the expanding trend in protein consumption is projected to present numerous meat processors and food companies with numerous chances to invest in alternative animal proteins, such as farmed meat. However, satisfying daily protein requirements and maintaining the flavor of meat products are also crucial considerations when using alternatives to animal meat. This presents a good opportunity for the market for cultured beef. Manufacturers are strategically collaborating with other industries to control the development of cultured meat production technology and increase production. This is thought to present profitable chances over the coming years. One of the factors influencing the region's cultured meat business is the rising consumption of meat analogs in developed nations like Europe and North America.

Since it is still not produced on a wide scale, specialized shops and eateries are the primary sources of the world's cultured meat market. This will be one of the major obstacles facing businesses as the worldwide market expands in the near future. The most significant obstacle to limiting the growth of the size of the market for cultured meat is sometimes referred to as high investment expenditures. All nations have numerous, stringent laws governing the manufacture of cultivated goods. Most people are unaware of the relatively new concept of cultured meat. Additionally, customers believe that meat from the slaughterhouse is healthier than meat from a lab. This is also the key reason why people are hesitant to try cultured meat in place of accessible traditional or slaughtered meat.

To know more, read:

https://www.marketdataforecast.com/market-reports/cultured-meat-market

The report is segmented as follows:

The Cultured Meat Market is segmented by Source; the Market is segmented by End-Use:

By Source (Poultry, Beef, Seafood, Pork, and Duck)

By End-Use (Nuggets, Burgers, Meatballs, Sausages, Hot Dogs)

Regional Segmentation:

Considering that North America has the greatest market share for cultured meat, the region is anticipated to lead the sector in 2021. In order for innovation and development to increase, increased spending on effective R&D will be the most important component. Investor interest in alternative proteins has increased due to health concerns about meat consumption, and the capacity to supply the nutrients required for custom proteins is a major driver of consumer shift from traditional meat to cultured meat products. The metropolitan region is anticipated to be the main driver of growth in the United States and Canada because of its high degree of flexibility, as well as its acceptance of meat alternatives and other alternative proteins. The region's rising demand for alternative proteins encourages further investment in businesses that produce meat from aquaculture. During the predicted period, Europe is anticipated to grow significantly at a compound annual rate of 4.6%. This is connected to increased market investment. Numerous new businesses are entering the market as a result of rising concerns about animal welfare, antibiotic resistance, and environmental issues. As regional regulatory backing grows, demand will rise.

Impact of COVID-19 pandemic on the market:

Nearly every business was impacted by the unprecedented worldwide public health emergency known as COVID-19, and the long-term effects are expected to have an impact on the expansion of a number of end-use industries over the course of the forecast period.

Contact Us:

[email protected]

+1-888-702-9626