Cultured Meat Market To Hit Value 8.0 Million By 2028 |Grand View Research, Inc.Posted by Mrudula Anil Karmarkar on February 2nd, 2023 The global cultured meat market size is expected to reach USD 348.0 million by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 11.4% from 2022 to 2028. The market is anticipated to be driven by the growing consumer preference to adopt a protein-rich diet. The COVID-19 era strongly reflected the demand for nutritional ingredients and vitamins. Cultured meat can be costly if manufactured with current technology. It needs large capital investment for R&D activities. These are some factors that may impede the growth of the global market. However, high meat consumption among customers can create large revenue opportunities for companies in the market. The demand for pork-based cultured meat is continuously increasing to accomplish the essential need for proteins, minerals, and vitamins. The key players of in-vitro meat are adopting new technologies, such as three-dimensional printing technology, for customizable slaughter-free meat production. At present, key players are focusing on reducing the prices of in-vitro meat products. The companies are trying to maintain the natural taste of in-vitro meat products. Hence, the market is expected to witness lucrative growth during the forecast period. During the COVID-19 pandemic, the demand for in-vitro meat slightly improved due to the high demand for healthy food. In-vitro meat gained immense traction during the COVID-19 era to scale up the healthy diet. The growing concerns among consumers to boost immunity and adopt nutritious ingredients in meals are propelling the market growth. The poultry source segment held the largest revenue share of over 35.0% in 2021. Rising investment in the poultry segment by various companies is propelling the growth of the market. Moreover, the increasing demand for nutritional ingredients from meat consumers to improve the human immune system will augment the segment growth. The rising health concerns among consumers and the affordable cost of poultry-based products are further fueling the segment growth. North America dominated the market with a revenue share of more than 35.0% in 2021. At present, the U.S.-based key players are focusing on strategic partnerships and mergers & acquisitions in order to attract a large consumer base. Gradually rising consumption of meat as well as meat products, combined with the associated nutritional benefits, is likely to support the regional market growth. Hence, the market is expected to witness significant growth during the forecast period. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/cultured-meat-market-report/request/rs1 Moreover, the rising concerns regarding food safety in the consumer goods sector are anticipated to boost the growth of the market. In the COVID-19 pandemic, the demand for in-vitro meat slightly increased due to the growing demand for healthy food. In-vitro meat gained immense traction during the COVID-19 era to scale up the healthy diet. The rising concerns among consumers to boost immunity and adopt nutritious ingredients in meals are propelling the market growth. The rising demand to procure nutritional ingredients in developing countries is expected to open up growth opportunities for the market. Numerous other aspects that are likely to drive the global cultured meat industry comprise improvements in cellular agriculture and the increasing inclination toward animal welfare as well as environmental sustainability. However, stringent government rules and regulations and consumer skepticism toward in-vitro meat are affecting the market growth. At present, key players in the market are focusing on slaughter-free production of meat. Hence, the market is expected to witness significant growth during the forecast period. Cultured Meat Market Report Highlights
Cultured meat is a kind of lab-grown meat manufactured using several practices of tissue engineering approaches in a culture medium. Cultured meat is also known as clean meat, in vitro meat, and synthetic meat. The manufacturing of cultured meat is complete by gathering cells from an animal and growing them in a developed and favorable culture medium. There are vast benefits associated with the consumption and manufacturing of cultured meat including zero animal cruelty, less deforestation, and relatively low usage of antibiotics, water, land, and other resources. Cultured beef is manufactured through animal muscle cell gathering, followed by nourishing the cells for the formation of muscle tissue. The usage of cultured beef needs 99% less space as compared to present livestock farming techniques. A rise in disposable income and the growing middle-class expenditure, particularly in developing countries, would offer growth opportunities. As per the Food and Agriculture Organization, the world demand is anticipated to surge by more than 66% by 2060, which will boost the need for cultured meat due to its minimum greenhouse gas releases and other environmental effects. List of Key Players of Cultured Meat Market
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