Cultivated Meat Global Market Navigating Trends, Share Report, Growth Drivers, Market Size And Future Outlook 2024-2033

"The Business Research Company recently released a comprehensive report on the Global Cultivated Meat Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The cultivated meat market size has grown rapidly in recent years. It will grow from $7.87 billion in 2023 to $9.31 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. The growth in the historic period can be attributed to environmental concerns, health and nutrition, investment influx, consumer acceptance, cost reduction, culinary innovation.

The cultivated meat market size is expected to see rapid growth in the next few years. It will grow to $17.18 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The growth in the forecast period can be attributed to scale-up initiatives, market expansion, global regulatory frameworks, competitive market landscape, nutritional tailoring, marketing and branding. Major trends in the forecast period include technological advancements, diverse product offerings, investment and funding, collaborations and partnerships, scaling production.

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Market Drivers and Trends:

Increasing consumption of meat products is expected to propel the growth of the cultivated meat market going forward. Meat products are products that can be used as human food and are created entirely or partially from the meat or other parts of an animal's carcass. Cultivated meat has the potential to enhance meat consumption in a sustainable fashion by increasing the availability of food and potentially reducing world hunger. Cultivated meat uses fewer natural resources than conventional meat and does not require growing or butchering animals because supplied cells grow eternally. Additionally, the rising trend of protein consumption has favored the increased consumption of meat products. For Instance, in December 2021, according to a report published by the United States Department of Agriculture, a US-based organization for farming, forestry, rural economic development, and food, total per capita consumption of red meat and poultry was 224.1 pounds in 2020 and is projected to increase to 226.9 pounds by 2023. Furthermore, according to the Food and Agriculture Organization (FAO), an Italy-based organization dedicated to improving nutrition and food security, global meat consumption is expected to increase by 15% by 2031 due to population growth, and protein availability from poultry, pork, beef, and sheep meat is expected to increase by 16%, 17%, 8%, and 16%, respectively, by 2031. Therefore, the increasing consumption of meat products will drive the cultivated meat market.

Technological advancements are a key trend gaining popularity in the cultivated meat market. Major companies operating in the cultivated meat market are involved in developing new and improved technology to sustain their position in the market. For instance, in July 2022, Meatable BV, a Netherlands-based biotechnology business, announced its innovative pork sausages product. The company has been developing and perfecting its approach to produce grown meat utilizing opti-ox technology without ever requiring FBS (fetal bovine serum). A single-cell sample obtained harmlessly from an animal is required to make actual meat with the same structure, texture, glossiness, and particular pork flavor. The product even produces the typical sizzle in the pan, similar to traditional sausages, and grows in just a few weeks, with research estimating that cultured meat might reduce the environmental impact of the meat industry by up to 92%.

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Major Key Players of the Market:

Aleph Farms Ltd.; MosaMeat BV; SuperMeat Just Inc.; Integriculture Inc.; Finless Foods Inc.; Avant Meats Company Limited; UncommonBio; Biofood Systems LTD.; Fork & Goode Inc.; Mission Barns; Bluenalu Inc.; Shiok Meats Pte Ltd.; UPSIDE Foods; Clear Meat; Cubiq Foods; Gourmey; Eat Just Inc.; Future Meat Technologies; Meatable B.V; José Batista Sobrinho; Agronomics Limited; CULT Food Science Corp; Tyson Foods Inc.; Cargill Incorporated; Neto Group; BioTech Foods; LabFarm Foods; BioNaturals; Balletic Foods; Cultured Decadence

Cultivated Meat Market 2024 Key Insights:

• The cultivated meat market size will grow to $17.18 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%.
• Growing Demand For Cultivated Meat Fueled By Sustainability And Rising Protein Trends
• Sustainable Technology Sets A New Standard In Cultivated Meat Advancements
• North America was the largest region in the cultivated meat market in 2023

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