Regardless of a company’s size or income, the most recent research study offers an exhaustive analysis of the Cultured Meat market for 2023–2032. This survey study discusses the key market trends and the industry’s outlook for the forecast years.
Global Cultured Meat Market presents a variety of new trends that have a significant impact on market growth dynamics as well as the most recent industry knowledge. According to the most recent projection, global growth will reach its lowest point this year at 2.8% before edging up to 3.0% in 2024. Although more slowly than expected, the rate of global inflation will drop from 8.7% in 2022 to 7.0% this year and 4.9% by 2024. Notably, growth rates for emerging markets and developing economies have increased significantly in many cases, from 2.8 percent in 2022 to 4.5% this year.
The global cultured meat market size was US$ 1.5 million in 2021. The global cultured meat market is forecast to grow to US$ 2,781 million by 2030 by registering a compound annual growth rate (CAGR) of 91.8% during the forecast period from 2022 to 2030.
Request To Download Free Sample of This Strategic Report @https://reportocean.com/industry-verticals/sample-request?report_id=Pol1218
A subcategory of artificial meat, cultured meat is made using cellular agriculture and tissue engineering techniques. In vitro meat is another name for cultured meat. As meat is a good source of vitamin B12, omega-3 fatty acids, iron, and protein, the product can efficiently help people meet their nutritional needs.
Factors Influencing the Market
The advantages of cultured meat are primarily driving the growth of the market. For instance, cultured meat decreases public health risks and eliminates the need to raise animals. Apart from that, the high nutritional value of cultured meat is forecast to drive the growth of the market during the study period.
The global cultured meat market will also be driven by the factors like less dependency on animal proteins and low cases of allergies. Consumers are progressively going for allergen-free foods in order to maintain a nutrition-rich diet. Thus, such instances are expected to escalate the market growth.
On the flip side, the availability of healthier substitutes may limit the growth of the cultured meat market during the study period.
COVID-19 Impact Analysis
The COVID-19 pandemic triggered the desire for wholesome foods. As a result, the demand for in-vitro meat slightly increased. During the COVID-19 era, in-vitro meat became a very popular way to maintain a healthy diet. Consumers’ increasing desire to strengthen their immune systems and incorporate nutrient-dense products into their diets significantly accelerated the growth of the cultured meat market.
Regional Analysis
On the basis of region, Europe is estimated to hold the highest share in the cultured meat market due to the rising consumption of meat and increasing demand for healthy food in the region.
North America will also hold a significant share due to the rapidly increasing demand for in-vitro meat in the U.S. and Canada. Apart from that, the rising consumption of meat and growing awareness about its nutritional benefits will drive the market forward.
The Asia-Pacific cultured meat market is forecast to record notable growth due to the rising demand for poultry products in emerging economies like India and China. Moreover, growing support from government organizations is expected to contribute to market growth. For instance, the Singapore Food Agency allowed the sale of lab-grown meat products in 2020. Moreover, the contribution of industry players will also drive this regional market forward. For instance, Eat Just, a US-based firm, offers cultured chicken for the meat consumers of Singapore. Thus, all of these factors will drive the growth of the global cultured meat market during the study period.
Competitors in the Market
• Aleph Farms Ltd
• Future Meat Technologies
• Cubiq Foods S.L.
• Eat Just, Inc
• Meatable B.V
• Memphis Meats
• Vow Group Pty Ltd
• Mission Barns
• Mosa Meat BV
• Redefine Meat Ltd
• Other Prominent Players
The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the Cultured Meat industry experienced notable growth in its workforce. Starting in January, employment within the Cultured Meat sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Cultured Meat output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global Cultured Meat output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Cultured Meat market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Cultured Meat market.
Market Segmentation
The global cultured meat market segmentation focuses on Type, End-Users, and Region.
By Type Outlook
• Red Meat
• Poultry
• Seafood
By End-Users Outlook
• Household
• Food Services
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America
Table of Contents:
Chapter 1: Introduction to the Global Cultured Meat Industry
Chapter 3: Dynamics of the Market
Chapter 4: Profiles of Leading Companies
Chapter 5: Competition in the Global Cultured Meat Market among Players
Chapter 6: Market Size across Global Regions
Chapter 7: Application Segments in the Global Market
Chapter 8: Segment Analysis of the Global Cultured Meat Industry
Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers
Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders
Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors
Chapter 12: Evaluation of Market Impact Factors
Chapter 13: Forecasted Global Cultured Meat Market Size (2023-2032)
Reasons to Acquire This Report
(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.
(B) The report delivers a comprehensive analysis of global, regional, and country-level Cultured Meat market revenues, extending projections until 2032. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.
(C) Through meticulous segmentation of the Cultured Meat market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.
(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.
(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.
(F) The study facilitates the assessment of Cultured Meat business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.
Why is our study consequential?
Our study holds paramount importance for various reasons, a few of which include:
• Assisting businesses in gauging the viability of new or existing products or services.
• Facilitating business enterprises in the identification and cultivation of novel market segments.
• Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.
• Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.
• Analyzing market trends to aid businesses in devising adaptive strategies.
• Guiding businesses in the optimal placement of their products.
About Report Ocean:
Report Ocean is a renowned provider of market research reports, offering high-quality insights to clients in various industries. Their goal is to assist clients in achieving their top line and bottom line objectives, thereby enhancing their market share in today’s competitive environment. As a trusted source for innovative market research reports, Report Ocean serves as a comprehensive solution for individuals, organizations, and industries seeking valuable market intelligence.