The global cultured meat market was valued at USD 206 million in 2019 and is expected to reach USD 590 billion by 2026, expanding at a CAGR of around 14.6% during the forecast period, 2020–2026.
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The cultured meat is a type of meat which is produced from in vitro nature cell or cells of animals from advanced technology without slaughtering of the animals. This meat is produced by taking different cells from various animals and growing them in a medium which 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 for the world population. Upon cell multiplication, the structure looks like a sponge and engulfs nutrients, with the aid of mechanical mechanism, increasing their protein and weight content.
In order to manufacture this meat in a bulk quantity various steps are needed to be taken under consideration. The cultured meat is the most favoured solution around the globe for increasing the meat requirement ever. These meat products also provide with favourable level of saturated fat and reduce the environmental impact. It is estimated that the resulting cultured meat can be seasoned, harvested, cooked to perfection for consumption as any other meat products such as chicken, hamburger, sausages and even a steak or a chicken breast. The cultured meat market is driven by the rising consumer preference for consuming the substitute for animal-based products.
Market Trends, Drivers, Restraints, and Opportunities:
- Increasing demand for alternative protein, environmental sustainability, and enhanced food safety are some of the key trends driving the growth of the cultured meat market and thus fueling the growth of the market.
- Technological advancements in cellular agriculture is a key factor driving the growth for the market.
- Increased focus on animal welfare and growing investor interest in alternative proteins and the ability to provide the required nutrition in tailor-made proteins are the factors fuelling the growth of the market.
- Stringent regulatory environment, is a key restraint of the market.
- High equipment and setup cost and lack of awareness are the factors which hampers the growth of the market.
- Market consolidation, is also a key restraining factor.
- Scepticism among consumers is a market challenge for the cultural meat market.
- Demand for cultural meat is expected to increase significantly which is a key market opportunity.
- Globally, the online retail space is widening, which is one of the positive trends that is going to foster the growth of the market during the forecast period.
Major companies in the global cultured meat market include Mosameat, Integriculture Inc, Memphis Meats, Just, Inc., Francisco-based Memphis Meats, MosaMeat, Brooklyn-based Modern Meadow, Supermeat, Tel Aviv-based Super Meat, and Brooklyn-based Finless Food and many more.
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The global cultured meat market has been segmented on the basis of:
- Hot dogs
- Convenience Stores
- Food and Drink Specialty Stores
- Online Retail
- Asia Pacific
- North America
- Middle East & Africa
- Latin America
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Table of Contents
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- cultured meat market Overview
- Global cultured meat market Analysis and Forecast by Type
- Global cultured meat market Analysis and Forecast by Application
- Global cultured meat market Analysis and Forecast by Sales Channel
- Global cultured meat market Analysis and Forecast by Region
- North America cultured meat market Analysis and Forecast
- Latin America cultured meat market Analysis and Forecast
- Europe cultured meat market Analysis and Forecast
- Asia Pacific cultured meat market Analysis and Forecast
- Middle East & Africa cultured meat market Analysis and Forecast
- Competition Landscape
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