PUNE, India, May 4, 2018 /PRNewswire/ --
The report "Cultured Meat Market by Source (Poultry, Pork, Beef, Duck), End Use (Nuggets, Burgers, Meatballs, Sausages, Hot Dogs), and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) - Global Forecast to 2027", published by MarketsandMarkets™, the market is expected to reach a value of USD 15.5 Million in 2021 and is projected to reach USD 20.0 Million by 2027, at a CAGR of 4.0% during the forecast period. The market is driven by factors such as increased demand for alternative meat proteins, growing food safety concerns, and technological advancements in cellular agriculture.
Browse 71 market data Tables and 23 Figures spread through 107 Pages and in-depth TOC on "Cultured Meat Market"
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The poultry segment is expected to account for the largest share of the Cultured Meat Market in 2021
The poultry segment is expected to account for the largest share of the Cultured Meat Market in 2021. Factors such as the low price of poultry meat as compared to other meats, increased demand for protein-rich food, and the expansion of poultry-based quick service restaurants (QSRs), especially in the Middle East region are some of the factors expected to boost the demand for the poultry segment in the Cultured Meat Market.
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Nuggets segment under end use is projected to grow at the highest rate in the Cultured Meat Market during the forecast period.
One of the driving factors for the increasing use of cultured meat in making nuggets is the high demand for nuggets in major regions such as North America and Europe. This segment is expected to lead to the subsequent adoption of cultured meat in other meat-based snacks such as burgers and sausages, leading to the growth of the Cultured Meat Market. The market size of the nuggets segment is also estimated to be the largest, among other end uses, and presents cultured meat with opportunities for growth into multiple end uses.
Middle East & Africa market is projected to grow at the highest CAGR during the forecast period
In 2021, North America is expected to account for the largest share of the Cultured Meat Market. Factors such as high spending on advanced R&D facilities necessary for cultured meat development, the growing trend of consumption of meat substitutes and alternative proteins, and the presence of players such as JUST, Inc. and Memphis Meat are expected to boost the demand for cultured meat in the region.
The market in the Middle East & Africa is projected to grow at the highest CAGR during the forecast period. Recent developments in this region by major companies highlight the growth prospect of the meat industry.
This report includes profiles of leading companies such as MosaMeat (Netherlands), Memphis Meats (US), SuperMeat (Israel), Just, Inc. (US), and Integriculture Inc. (Japan).
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