Press release
Global Cultured Meat Market 2024 - By Size, Share, Price, Growth, Analysis, Outlook And Forecast Report 2033
Global Cultured Meat Market
The Business Research Company offers in-depth market insights through Cultured Meat Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The cultured meat market size has grown rapidly in recent years. It will grow from $0.19 billion in 2023 to $0.23 billion in 2024 at a compound annual growth rate (CAGR) of 19.9%. The growth in the historic period can be attributed to sustainable food production, animal welfare concerns, resource efficiency, demand for protein alternatives, investments and funding.
The cultured meat market size is expected to see rapid growth in the next few years. It will grow to $0.46 billion in 2028 at a compound annual growth rate (CAGR) of 18.8%. The growth in the forecast period can be attributed to cost reduction strategies, global population growth, diversification of product offerings, and culinary integration. Major trends in the forecast period include technological advancements, investment and funding, diversity of cultured meat products, environmental and ethical considerations.
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Market Segmentation:
The cultured meat market covered in this report is segmented -
1) By Type: Poultry, Beef, Seafood, Pork, Duck
2) By Application: Nuggets, Sausages, Burgers, Hot Dogs, Meatballs, Other Applications
3) By Distribution Channel: Hypermarkets, Food And Drink Specialty Stores, Convenience Stores, Online Retail, Other Distribution Channels
4) By End-User: Household, Food Services
Major Driver - Rising Meat Consumption To Drive Market Growth
The increasing consumption of meat across the globe is contributing to the growth of the cultured meat market. Cultured meat is consumed as a healthy alternative to animal meat as it is less contaminated than animal meat. Around the world, people are eating more meat than before due to the increasing need for protein consumption and an increase in disposable income. According to the Organization for Economic Co-operation and Development - Food and Agriculture Organization (OECD-FAO) Agriculture outlook 2020-2029, the growth in global meat consumption is projected to increase by 12% between 2020 to 2029. Moreover, according to The World Counts report, global meat consumption is expected to reach between 460 and 570 million tons by 2050. Thus, increasing consumption of meat and meat products drives the market for cultured meat.
Competitive Landscape:
Major companies operating in the cultured meat market report are Emergy Inc., Shiok Meats Pte. Ltd., Because Animals Inc., Lab Farm Foods Ltd., Biofood Systems Inc., Mosa Meat BV, Higher Steaks Cultivated Meat Ltd., UPSIDE Foods Inc., Eat Just Inc., Mission Barns Food Inc., Memphis Meats Inc., Mirai Foods Co. Ltd., Aleph Farms Ltd., Vow Foods Pty. Ltd., BioTech Foods Ltd., Meatable Pte. Ltd., Future Meat Technologies Ltd., Hoxton Farms Inc., Modern Meadow Inc., Bond Pet Foods Inc., Redefine Meat Ltd., MeaTech 3D Ltd., Finless Foods Inc., SuperMeat Ltd., Integriculture Inc., Cubiq Foods Inc., Cell Farm Food Tech Ltd., Avant Meats Company Inc., Cultured Decadence LLC, Biozoon RGS Group
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Top Trend - Strategic Partnerships Reshaping The Cultured Meat Market
Major companies operating in the cultured meat market are forming partnerships to develop new products and strengthen their positions in the market. Strategic partnerships in the cultured meat market facilitate accelerated innovation, enhanced distribution networks, and shared expertise, fostering the development and commercialization of sustainable and scalable cultivated meat products. For instance, in March 2021, Aleph Farms, an Israel-based cellular agriculture company, partnered with BRF S.A., a Brazil-based food processing company, to introduce lab-grown meat products in Brazil. Under this collaboration, Aleph Farms and BRF will co-develop and produce cultivated meat using Aleph's patented BioFarm production platforms, aiming to distribute cultivated beef products in Brazil. This partnership reflects Aleph Farms' strategy to integrate into existing ecosystems and accelerate the scale-up of cultivated meat, leveraging BRF's expertise and infrastructure in one of the world's largest beef-producing markets. The collaboration aligns with BRF's 2030 Vision initiative to reduce environmental impact, emphasizing its commitment to innovation and sustainability in the food industry.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Cultured Meat Market Characteristics
3. Cultured Meat Market Trends And Strategies
4. Cultured Meat Market - Macro Economic Scenario
5. Cultured Meat Market Size And Growth
…..
27. Cultured Meat Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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