Cultured Meat Market To See Record Break Revenue $2788.1 Million by 2030

Cultured Meat Market by Type (Red Meat, Poultry and Seafood), End User (Household and Food Services: Global Opportunity Analysis and Industry Forecast 2022–2030.” According to the report, the global cultured meat industry is estimated to generate $1.64 million by 2021, and is expected to reach $2.78 billion by 2030, witnessing a CAGR of 95.8% from 2022 to 2030.

Cultured meat, also known as law grown meat and clean meat is cultivated by in vitro cell culture instead of slaughtering of animals, in a controlled medium. It replicates taste, texture, and aroma of farmed meat. In the process of culturing, farm animals cells are transferred into controlled medium, which contains nutrients and growth factors required for growth and transformation of stem cells into mature muscle cells within bioreactor. Growth factors used for the cultured meat production are couple of conditions and substances used to provide requisite nutrition for the growth of tissues.

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Conventional animal farming is not sufficient enough to meet the future demands, as the global population is growing exponentially. For instance, according to a World Bank report, global population is projected to reach 11.9 billion by 2050.However, the production of animal meat is comparatively low. Furthermore, farmed meat has serious implications on the environment.

Covid-19 Scenario

• Growth in health concerns during the pandemic led to augmented demand for healthy food including cultured meat and related products.
• Also, the disrupted supply chain during the initial phase of the lockdown has immensely impacted the market in terms of sales.
• Nevertheless, the restrictions are getting lifted by the government bodies in various regions, which in turn would lead the market to recoup soon.

Based on type, the red meat segment is expected to contribute to the highest market share, accounting for 91% of the global cultured meat market by 2021, and will maintain its lead position during the forecast period. This is due to popularity of the conventional red meat among the people and enormous benefits are associated with red meat consumption. However, the sea food segment is expected to witness the highest CAGR of 125.1% from 2022 to 2030. This is attributed to Increase in awareness regarding the benefits of seafood and change in dietary preferences of consumers.

On the basis of end user, the food service segment was valued at $1.54 million in 2021, and is projected to reach $2,140.4 million by 2030, registering a CAGR of 91.3% from 2022 to 2030. This is attributed to rapid urbanization, increase in expenditure on premium food products, rise in trend of dinning out, and dynamic changes in eating habit. Moreover, fast food outlets have been gaining major traction, as they provide plant-based meat in burgers and pizzas, which are becoming popular processed food products among the millennial population. Furthermore, hotels and restaurants are displaying availability of allergen-free food, which further motivates customer to try cultured meat. This is how food services industry plays a vital role to publicize and market cultured meat.

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Based on region, Asia-Pacific, followed by North America, accounted for the largest market share in terms of revenue in 2021, holding more than three-fifths of the global cultured meat market, and will maintain its leadership status by 2030. This is attributed to inclination of consumers toward animal well-being and against the slaughtering in countries such as China and Japan fosters the growth of the cultured meat market in the region. In addition, increase in health & fitness consciousness and recent innovative product launch by Eat Just further drives the growth in this province. However, Europe is expected to grow at the highest CAGR of 106.1% from 2022 to 2030, owing to growing concern about the animal welfare and demand for alternative protein.

The global Cultured Meat market report includes an in-depth analysis of the prime market players such as Aleph Farms Ltd, Cubiq Foods S.L., Future Meat Technologies, Meatable B.V, Mission Barns , Memphis Meats , Mosa Meat BV, Redefine Meat, Vow Group Pty Ltd.

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Cultured Meat Market by Type (Red Meat, Poultry and Seafood), End User (Household and Food Services: Global Opportunity Analysis and Industry Forecast 2022–2030.” According to the report, the global cultured meat industry is estimated to generate $1.64 million by 2021, and is expected to reach $2.78 billion by 2030, witnessing a CAGR of 95.8% from 2022 to 2030.

Cultured meat, also known as law grown meat and clean meat is cultivated by in vitro cell culture instead of slaughtering of animals, in a controlled medium. It replicates taste, texture, and aroma of farmed meat. In the process of culturing, farm animals cells are transferred into controlled medium, which contains nutrients and growth factors required for growth and transformation of stem cells into mature muscle cells within bioreactor. Growth factors used for the cultured meat production are couple of conditions and substances used to provide requisite nutrition for the growth of tissues.

Download Sample Copy Of Report@ https://www.alliedmarketresearch.com/request-sample/7035

Conventional animal farming is not sufficient enough to meet the future demands, as the global population is growing exponentially. For instance, according to a World Bank report, global population is projected to reach 11.9 billion by 2050.However, the production of animal meat is comparatively low. Furthermore, farmed meat has serious implications on the environment.

Covid-19 Scenario

• Growth in health concerns during the pandemic led to augmented demand for healthy food including cultured meat and related products.
• Also, the disrupted supply chain during the initial phase of the lockdown has immensely impacted the market in terms of sales.
• Nevertheless, the restrictions are getting lifted by the government bodies in various regions, which in turn would lead the market to recoup soon.

Based on type, the red meat segment is expected to contribute to the highest market share, accounting for 91% of the global cultured meat market by 2021, and will maintain its lead position during the forecast period. This is due to popularity of the conventional red meat among the people and enormous benefits are associated with red meat consumption. However, the sea food segment is expected to witness the highest CAGR of 125.1% from 2022 to 2030. This is attributed to Increase in awareness regarding the benefits of seafood and change in dietary preferences of consumers.

On the basis of end user, the food service segment was valued at $1.54 million in 2021, and is projected to reach $2,140.4 million by 2030, registering a CAGR of 91.3% from 2022 to 2030. This is attributed to rapid urbanization, increase in expenditure on premium food products, rise in trend of dinning out, and dynamic changes in eating habit. Moreover, fast food outlets have been gaining major traction, as they provide plant-based meat in burgers and pizzas, which are becoming popular processed food products among the millennial population. Furthermore, hotels and restaurants are displaying availability of allergen-free food, which further motivates customer to try cultured meat. This is how food services industry plays a vital role to publicize and market cultured meat.

Interested to Procure The Data? Inquire here at: https://www.alliedmarketresearch.com/purchase-enquiry/7035

Based on region, Asia-Pacific, followed by North America, accounted for the largest market share in terms of revenue in 2021, holding more than three-fifths of the global cultured meat market, and will maintain its leadership status by 2030. This is attributed to inclination of consumers toward animal well-being and against the slaughtering in countries such as China and Japan fosters the growth of the cultured meat market in the region. In addition, increase in health & fitness consciousness and recent innovative product launch by Eat Just further drives the growth in this province. However, Europe is expected to grow at the highest CAGR of 106.1% from 2022 to 2030, owing to growing concern about the animal welfare and demand for alternative protein.

The global Cultured Meat market report includes an in-depth analysis of the prime market players such as Aleph Farms Ltd, Cubiq Foods S.L., Future Meat Technologies, Meatable B.V, Mission Barns , Memphis Meats , Mosa Meat BV, Redefine Meat, Vow Group Pty Ltd.

Similar Reports:

Corn Starch Market: https://www.alliedmarketresearch.com/corn-starch-market-A07194

Food Thickeners Market: https://www.alliedmarketresearch.com/food-thickeners-market