Cultured Meat Market Trends, Forecast 2022-2028

1. Global Cultured Meat Market-Industry Size, Share, Trend Analysis and Forecast Report, 2022-2028

2. Global Cultured Meat Market- Industry Trends & Forecast Report 2028 A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Global Cultured Meat Market was worth USD 138.4 million in the year 2022. The market is forecast to grow at a CAGR of 17.8%, earning revenue of around USD 321.94 million by the end of 2028. The lucrative growth of the Global Cultured Meat market is attributed to urbanization, the rising purchasing power of the consumer, adoption of synthetic meat products, increasing health consciousness, expanding Food and beverage industry, rapid technological innovation, and increasing consumption of meat-based fast food, as well as seafood across the globe. 

3. Growth Drivers Increasing Concerns about Global Animal Welfare The increasing concerns about environmental awareness and global animal welfare act as a major driving factor for the growth of the Global Cultured Meat Market. The rising awareness and shifting preferences of consumers toward a more nutritional diet that is more sustainable to the environment and minimizes the dependency on animal protein and slaughtering. Several manufacturers of cultured meat around the globe are developing differentcultured meat products to reach the growing demand for meat products and decline the stress on conventional sources to support animal welfare.

4. Restraints  Lack of Awareness and Production of Cultured Meat To some consumers, meat slaughtered is healthier than lab-grown meat which acts as a major restraining factor for the growth of the Global Cultured Meat Market. The Global Cultured Meat Market facing various challenges owing to the access to cell lines, and the high cost of raw materials which decline the production of lab-grown meat. In addition, cultured meat is a new idea and many people are not aware of it, thus consumers fear buying  cultured meat instead of traditional meat largely available in the market.

5. Impact of COVID-19 The sudden outbreak of COVID-19 impacted negatively the growth of the Global Cultured Meat Market. Initially, the sales declined  as many productions halted during the complete lockdown, also the production faced a huge shortage of raw materials and a halt in processing as well as distribution operations. However, after the spread of the COVID-19 virus, the demand for  cultured meat increased at a steady rate owing to its benefits like being free from animal-based allergies, healthier than conventional meat, also its property of keeping nutrition for a long time. As people cannot go outside their houses to visit the markets due to worldwide lockdown with restricted norms and are more concerned about their eating habits. Thus, people increasingly are trying online cultured meat products to meet the need for protein, thereby, impacting the growth of the Global Cultured Meat Market during the forecast period.

6. Regional Insights Geographically, the Global Cultured Meat market is segmented into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA). The North America segment accounts to hold the largest share in the market owing to the growing urbanization, rising purchasing power, expanding research and development activities, technological advancements, and availability of various international players across the region.  Sample Copy of the Report :https://www.blueweaveconsulting.com/report/cultured-meat-market/report-sample

7. Competitive Landscape The leading market players in the Global Cultured Meat market are Memphis Meats (US), SuperMeat (Israel), Aleph Farms Ltd (Israel), Future Meat Technologies Ltd (Israel), Finless Foods Inc. (US), Avant Meats Company Limited (China), Higher Steaks (UK), Seafuture Sustainable Biotech (Canada), Shiok Meats (Singapore), Lab farm Foods (US), Balletic Foods (US), Mission Barns (US), Meatable (Netherlands), MosaMeat BV, Redefine Meat and other prominent players.

8. Recent Development Cargill’s food ingredients have invested in Aleph Farms of VisVires New protein and have agreed with other investors to prototype and grow meat directly from meat cells using a 3D tissue engineering platform. In 2018, Japanese meat producer ToriyamaChikusanShokuhin and San Francisco-based Just teamed up with aquaculture meat. The goal is to develop laboratory-grown wagyu products that are Japanese beef cattle.

9. Key Players Memphis Meats (US), SuperMeat (Israel), Aleph Farms Ltd (Israel), Future Meat Technologies Ltd (Israel), Finless Foods Inc. (US), Avant Meats Company Limited (China), Higher Steaks (UK), Seafuture Sustainable Biotech (Canada), Shiok Meats (Singapore), Lab farm Foods (US), Balletic Foods (US), Mission Barns (US), Meatable (Netherlands), MosaMeat BV, Redefine Meat and other prominent players.

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