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Lab-grown Meat Market What will be the Short-term Impact of Coronavirus?

08-31-2020 01:36 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fortune BUsiness Insights

Lab-grown Meat Market What will be the Short-term Impact

The global lab-grown meat market is likely to gain from rising concerns pertaining to animal protection. Fortune Business Insights in a report, titled Lab-grown Meat Market Size, Share and Global Trend By Type (Beef, Pork, Poultry, Seafood), Application (Food Retail, Foodservice Channels) and Geography Forecast till 2026 offers exclusive insights into the market. As stated in the report, in 2018 North America held a considerable share in the global market.

Some of the key players operating in the global lab-grown meat market are

Aleph Farms
Mosa Meat
Just Inc.
Meatable
Memphis Meats
SuperMeat and Finless Foods.

The region is further expected to emerge dominant over the forecast period 2019-2026. Consumers in the region are gaining awareness about harmful effects of red meat products. This in response is anticipated to encourage the adoption of lab-grown meat products.

Gain More Insights into the lab-grown meat market Report

https://www.fortunebusinessinsights.com/industry-reports/lab-grown-meat-market-100236

The U.S. also offers great potential for expansion of the market owing to the high consumption of duck products in the nation. Duck products are very popular also among Chinese population. This is anticipated to enable growth in the Asia Pacific lab-grown meat market. The region is also likely to gain from increasing startups in the region.

For instance, Aleph Farms announced the production of a lab-grown meat product, meat-steak. The product was specially developed with bovine cells to attain the perfect flavor and texture similar to cow-borne counterpart. The product was launched in 2018 and is facilitating the adoption of lab-grown meat products.

Government Policies Focusing on Environmental Safety to Support Growth

The global lab-grown meat market is expected to be driven by increasing number of vegans and emerging governments policies regarding environmental safety. Furthermore, studies suggest that the rising number of non-veg consumers will bode well for the market.

Foodservice channels are exhibiting demand in the lab-grown meat market. These companies are developing various animal based cells such as pork, duck, beef, and others to use them in ready-to-eat foods such as burger. This is expected to boost the global market.

On the contrary, lack of confidence in the lab-grown meat is a major factor that may restrain the global market during the forecast period.

Request A Sample Copy - Lab-grown Meat Market Report

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/lab-grown-meat-market-100236

Major Segmentation includes;

By Type

Beef
Pork
Poultry
Seafood
By Application

Food Retail
Foodservice Channels
By Geography

Beef Segment to Emerge Dominant Over the Forecast Period

In terms of type, the market is classified in to beef, pork, seafood, and other. The beef segment holds a considerable share in the market. The segment is foreseen to emerge dominant in the global market. High demand for lab-grown beef from foodservice platforms is expected to contribute towards market growth.

The global lab-grown meat is currently at a nascent stage, however, it is expanding at a promising CAGR. The competition in the market is rising, owing to the prevailing opportunities. Some players are adopting industry leading strategies to gain higher share in the market. Several organizations focusing on collaborations to expand their product portfolio. For instance, in 2019 some Israeli start-ups joined hands with global players to develop lab-grown meat. This is anticipated to increase the growth rate in the market.

Have Any Query? Ask Our Experts

https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/lab-grown-meat-market-100236

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About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

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