The Global Cultured Meat Market size is expected to reach $319.8 million by 2028, rising at a market growth of 10.2% CAGR during the forecast period

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Cultured meat, also referred to as in vitro meat, is a sort of artificial meat made using tissue engineering and cellular agriculture techniques. Meat has long been used to fulfill human nutritional needs since it is an excellent source of vitamin B12, omega-3 fatty acids, protein, and iron.

New York, July 05, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Cultured Meat Market Size, Share & Industry Trends Analysis Report By Source, By End Use, By Regional Outlook and Forecast, 2022 – 2028" - https://www.reportlinker.com/p06289227/?utm_source=GNW
In vitro meat is created in the lab by putting animal muscle cells into culture conditions for development and proliferation.

The cultured meat market is growing because of a number of factors, comprising low environmental impact, the elimination of the need to raise animals, and a reduction in public health hazards. Alternative protein sources include cultured meat. Consumers are changing the attention to adopting a more healthy diet that promotes a more sustainable lifestyle and reduces reliance on animal proteins. Additionally, people who are allergic to animal-based proteins make up the majority of alternative protein buyers. The increased inclination of consumers for a protein-rich diet as well as the rising dependence on omega-3 fatty acids to meet the demand for critical nutrients is likely to lead to market growth.

The increased demand for nutritious components in developing and improvements in cellular agriculture, as well as an high predisposition toward environmental sustainability and animal welfare, are all anticipated to propel the cultured meat market. At the moment, the market’s major participants are concentrating on meat production without slaughter.

COVID-19 Impact

The increasing worries about food safety in the consumer products industry are expected to support market growth. This is because of the rising desire for healthful food during the COVID-19 pandemic, demand for in-vitro meat climbed slightly. During the COVID-19 era, in-vitro meat acquired a lot of attention as a way to expand the healthy diet. The industry is growing because of increasing consumer issues about boosting immunity and incorporating nutritional elements into meals. The COVID-19 pandemic had a significant impact on meat production, meat pricing, and the supply chain, resulting in a major socio-economic catastrophe around the world.

Market Growth Factors

No animal torture and suffering

The animals population has grown in the previous fifty years, meat consumption has tripled. Animals on farms are subjected to both psychological and physical torture. The reality that billions of animals are reared in deplorable conditions just to serve human taste buds can only be described as brutal and inhumane. The children will definitely look down on slaughters for adopting production-scale animal mistreatment, just as people look down on the forefathers for holding slaves and condoning rampant sexism.

Better long term health for human beings

Aside from the apparent advantages for animal welfare, lab-grown meat also has advantages for human health. Antibiotic resistance is yet another big issue of the day that cultured meat could help to address. In addition, antibiotics are fed in high quantities to farm animals as a preventative precaution. As humans ingest farm animal flesh, people unnecessarily take antibiotics, allowing bacteria to develop resistance to it. These antibiotic resistance kills a large number of people every year in various region alone, and the scenario is only expected to get worse. Lesser the consumption of meat and meat-based product, lessen the chances of contracting any animal transmitted diseases.

Market Restraining Factors

Availability of more healthy alternatives

Customers are being encouraged to consume more legumes, fruits, vegetables, seeds, and nuts as a result of the growing popularity of plant-based products. Additionally, such plant-based goods provide many health benefits, which is engaging more customers. Many people have now increased intake of animal-based meat to diet-related disorders such as heart disease, obesity, type 2 diabetes, and cancer. Plant-based goods, on the other hand, do not induce such diseases, making them a suitable and healthier option for consumers. Many places do not have much preference of consuming meat or artificial meat, hence such population prefer other vegetarian meal to fulfill the nutritional requirements.

Source Outlook

Based on Source, the market is segmented into Poultry, Beef, Pork, Duck, and Seafood. The pork segment garnered a significant revenue share in the cultured meat market in 2021. It is due to rising demand; the pork segment will see the most growth over the forecast period. This is because of the excellent flavor and high nutritious value. L-carnitine is abundant in cultured beef. The segment’s expansion is attributable to customers’ growing worries about food safety. Beef flesh eliminates toxins while also meeting the desire for nutritional nourishment.

End Use Outlook

Based on End Use, the market is segmented into Burgers, Nuggets, Sausages, Meatballs, and Hot Dogs. The burger segment witnessed the highest revenue share in the cultured meat market in 2021. This is due to the increased demand among consumers for clean beef in dishes like burgers. The growing preference for hamburgers is expected to fuel category expansion. The growing popularity of high-protein is driving market demand. It is because of its lower environmental effect and ethical concerns, cultured meat burgers are the most popular alternative to traditional beef burgers.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America emerged as the leading region in the cultured meat market with the largest revenue share in 2021. It is due to rising demand for in-vitro meat in the United States and Canada. The regional market is recording rising meat and meat product consumption, as well as the accompanying nutritional benefits. There are many key firms based in the United States, which are concentrating on forming strategic partnerships in trying to entice a broad consumer base.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Upside Foods, Inc., Mosa Meat BV, Supermeat The Essence of Meat Ltd., Eat Just, Inc., Integriculture Co. Ltd., Aleph Farms, Finless Foods, Inc., Avant Meats Company Limited, and Future Meat Technologies Ltd.

Recent Strategies deployed in Cultured Meat Market

Partnership, Collaboration and Agreement:

Mar-2022: Future Meat Technologies came into a partnership with Charoen Pokphand Foods Public Company Limited (CPF), one of the leading unified agro-industrial and food businesses. This partnership aimed to create hybrid cultured meat products for the Asian market, meeting the dynamic consumer tastes and preferences of the Asian continent and enhancing the company’s knowledge of the market demands and wide distribution network in the region.

Mar-2022: SuperMeat formed a partnership with Ajinomoto, a Japanese multinational food and biotechnology corporation. This partnership aimed to fasten up and enhance the development of cultivated meat products. Under this partnership, Ajinomoto’s entered into cellular agriculture, with biotech investing in SuperMeat.

Mar-2022: SuperMeat entered into an agreement with PHW Group, one of Europe’s largest poultry producers. This agreement aimed to strengthen the brands’ joint mission to bring cultivated meat products, comprising turkey, chicken, and duck, to European consumers. Under this agreement, the companies would work together to gather EU authorization for the products, and be the first to create, manufacture, and distribute cultivated meat at a large scale for consumers.

Dec-2021: Aleph Farms joined hands with WACKER, a supplier of leading protein production technologies. This collaboration aimed to cultivate meat companies to gather the same affordable proteins, without utilizing fetal bovine serum (FBS) or animal-derived ingredients.

Jul-2021: Future Meat Technologies joined hands with Nestlé, the world’s largest food and beverage company. This collaboration aimed to explore the potential of cell-based meat and make a significant move in the field poised to enhance the market, securing the future of future generations.

Apr-2021: Avant Meats Company came into a partnership with Archer Daniels Midland Co (ADM), the U.S. agricultural commodities and food processing leader. This partnership aimed to broaden the production of fish analogs and plant-based meat in the region and emphasize developing new nutritious products to aid fulfill the growing demand for food and beverage in the Asia-Pacific region.

Apr-2021: Eat Just joined hands with Foodpanda, an online food and grocery delivery platform owned by Delivery Hero. This collaboration aimed to introduce the world’s first home delivery of cultured meat dishes. On the eve of Earth Day, three limited-edition dishes would be revealed on the online food delivery platform in Singapore, completely made with the food tech’s chicken that is cultured directly from cells.

Mar-2021: Aleph Farms came into a partnership with BRF, global Brazilian meat, and food company. This partnership aimed to release its lab-grown meat products in Latin America’s largest country. Under this partnership, the companies would co-develop and produce cultivated meat utilizing Aleph’s patented production platforms, BioFarms, and provide cultivated beef products in Brazil.

Jan-2021: Aleph Farms entered into an agreement with Mitsubishi, a global provider of food-related products to consumers. This agreement aimed to enable Aleph Farms to deliver its BioFarm manufacturing platform for the cultivation of whole-muscle steaks. In addition, Mitsubishi would give its expertise in biotechnology processes, branded food manufacturing, and local distribution channels in Japan.

Jan-2021: Avant Meats Company formed a partnership with Vinh Hoan, the world’s largest pangasius fish producer located in Vietnam. This partnership aimed for Avant Meats to enhance VHC’s comprehensive sales network and manufacturing capabilities and fasten the commercialization of its cultivated fish products.

Jul-2020: Integriculture entered into collaboration with Shiok Meats, a cultivated meat, and seafood company. This collaboration aimed to enhance the production of the latter’s flagship product: cultured shrimp meat. Under this collaboration, the companies would develop inexpensive cultured serum for growing shrimp meat in the lab.

Jan-2020: Mosa Meat came into a partnership with Nutreco, a leading animal nutrition company. This partnership aimed to fasten the commercial introduction of its lab-grown meat and emphasize creating its cultured meat products commercially available and offer a sustainable and healthier substitute on a large scale.

Product Launches and Product Expansion:

Apr-2022: IntergriCulture unveiled I-MEM, a basal medium. This product launch aimed to make cultivated meat without the inclusion of animal-derived growth factors. The Japanese cellular agricultural startup has successfully swapped out all of the research-grade elements of its medium, I-MEM, with food-grade replacements-preparing the product for commercial sale.

Geographical Expansions:

Dec-2020: Eat Just expanded its geographical footprint by offering lab-grown chicken meat in Singapore after receiving regulatory approval from Singapore Food Agency (SFA). This geographical expansion aimed at the cell-cultured chicken to be produced within Eat Just’s new GOOD Meat brand by partnerships with local manufacturers and go on sale to restaurants prior to it being available to consumers.

Scope of the Study

Market Segments covered in the Report:

By Source

• Poultry

• Beef

• Pork

• Duck

• Seafood

By End Use

• Burgers

• Nuggets

• Sausages

• Meatballs

• Hot Dogs

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Egypt

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Upside Foods, Inc.

• Mosa Meat BV

• Supermeat The Essence of Meat Ltd.

• Eat Just, Inc.

• Integriculture Co. Ltd.

• Aleph Farms

• Finless Foods, Inc.

• Avant Meats Company Limited

• Future Meat Technologies Ltd.

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• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

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• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06289227/?utm_source=GNW

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