According to the latest report by IMARC Group, title “Cultured Meat Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the global cultured meat market size reached US$ 161.6 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 372.04 Million by 2027, exhibiting a CAGR of 14.30% during 2022-2027.
Cultured meat is derived by cultivating animal cells in laboratories through defined scientific procedures. It can be of several types, including beef, seafood, pork, duck, poultry, etc. These cultured meat products are not artificial in nature. They are produced from the stem cells that are immersed in a liquid containing nutrients to help them duplicate and then kept in a bioreactor, a device designed for growing organisms. The cultured meat variants eliminate the need for farming and slaughtering animals for food, prevent E. coli bacteria and other contaminants from entering the human body, and reduce the release of methane, carbon dioxide, and nitrous oxide as compared to traditional meat production. Consequently, they are in extensive demand among consumers across countries.
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Cultured Meat Market Trends:
The rising number of individuals allergic to animal-based proteins and the escalating concerns about animal safety and welfare are primarily driving the cultured meat market. Besides this, the elevating awareness towards the benefits of lab-cultivated meat products, such as low environmental impact, decreased public health risks, eliminated need to raise animals, etc., is acting as another significant growth-inducing factor. Furthermore, the inflating investments by key market players in research and development (R&D) activities and the introduction of 3D printed cultured meat are also positively influencing the market growth. Additionally, the increasing demand for quick-service restaurants (QSRs) and the expanding improvements in online food delivery services are expected to propel the cultured meat market over the forecasted period.
Key Market Segmentation:
The report has been segmented the market into following categories:
Breakup by Source:
Breakup by Application:
- Hot Dogs
Breakup by End User:
- Food Services
Breakup by Geography:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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List of Key Companies Covered in this Market Report:
The major players in the market are Aleph Farms, BlueNalu, Cubiq Foods S.L., Finless Foods Inc., Future Meat Technologies, IntegriCulture, Meatable, Mission Barns, Mosa Meat, New Age Meats, Shiok Meats and UPSIDE Foods.
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About IMARC Group:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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