Global Cultured Meat Market to Reach $94.5 Billion by 2030
Within the research report, the market is segmented based on product type, application, and region. Each of these segments covers the market's snapshot of the propensity of market revenue, underlying patterns, and trends over the projected years by using analytics on the primary and secondary data obtained.
Cultured meat can be seen as the best alternative in order to satisfy the ever-increasing demand for meat by the rising population who are willing to display responsible eating behavior. The rise of vegetarianism and veganism is notable, but a significant amount of meat will continue to be eaten by customers worldwide thus, continuously raising the demand.
This technology has the potential to address many of the critical problems associated with conventional approaches, including animal conditions, environmental impact, and public health, among others. Thus, the market has enormous potential to rise and expand in the coming years.
Cultured meat is processed from a living animal by painlessly extracting muscle cells. To produce muscle tissue, which is the main component of the meat consumed. Further, scientists feed and nurture the cells to multiply and form meat products. To reduce the agricultural system's environmental impact, mitigate risks to public health, resolve animal welfare problems, and provide food protection, meat production through tissue culture could have enormous effects.
The vital first step in finding a sustainable alternative to the processing of meat is cultivated meat. It is seen as the most practical and fastest way to do so and to ultimately eradicate the traditional meat industry, which annually accounts for the cruelty and killing of around 270 billion animals.
The rising popularity of cultured meat products worldwide and increasing awareness about the products has led companies to invest significantly in this industry. The cultured meat market is expected to witness many more massive investments as more and more products will come into the commercialization race.
The current competitive landscape for the cultured meat market demonstrates an inclination toward companies adopting strategies such as business expansion in order to increase production capacities to lower prices along with partnerships and collaborations. The result of the emerging strategies and developments is already surging the market in the form of business expansion and partnerships and collaborations.
Driven by the rapid evolution of the alternative protein industry, there has been fierce competition between the players to expand their production units to increase the production capacity and lower the price. For instance, in June 2020, BlueNalu, Inc. signed a lease to expand its R&D and manufacturing facility in San Diego, having 38,000 sq. feet space. The facility will include a suitable manufacturing process and a pilot-scale cultured meat production plant.
Simultaneously, the industry players are also collaborating with the giant foodservice chains in order to tap a broader consumer base in a short span of time. For instance, in July 2020, BlueNalu, Inc. signed an MOU with Pulmuone, an environment -friendly and healthy lifestyle food product company in South Korea. The collaboration will help BlueNalu, Inc. to launch cell-based seafood in the South Korean market.
Key Topics Covered:
1 Markets 1.1 Industry Outlook 1.1.1 Cultured Meat: Overview 126.96.36.199 Evolution of the Cellular Agriculture 188.8.131.52 Emergence of Cultured Meat 1.1.2 Ecosystem Participants 1.1.3 Investment Landscape: Cultured Meat Market 1.1.4 Regulatory Landscape 184.108.40.206 North America 220.127.116.11 Europe 18.104.22.168 Asia-Pacific 22.214.171.124 Middle East 1.1.5 Key Patents 1.1.6 Impact of COVID-19 on the Alternative Protein Industry 1.2 Business Dynamics 1.2.1 Business Drivers 126.96.36.199 Increasing Needs for Food Security and Sustainable Diets 188.8.131.52 Growing Concerns for Animal Welfare 184.108.40.206 Impact of Traditional Meat Production on Environment 1.2.2 Business Challenges 220.127.116.11 High Production Cost 18.104.22.168 Consumer Acceptance and Trust 1.2.3 Business Strategies 22.214.171.124 Market Developments 126.96.36.199 Product Development and Innovation 1.2.4 Corporate Strategies 188.8.131.52 Partnerships, Collaborations, Mergers and Acquisitions, and Joint Ventures 184.108.40.206 Others 1.2.5 Business Opportunities 220.127.116.11 Marketing and Positioning to Build Initial Consumer Base 18.104.22.168 Increasing Government Support and Clarification on Marketing Regulations
4 Region 4.1 North America 4.1.1 Markets 22.214.171.124 Key Manufacturers and Suppliers in North America 126.96.36.199 Business Drivers 188.8.131.52 Business Challenges 4.1.2 Product 184.108.40.206 North America Cultured Meat Market (by Product) 4.2 Europe 4.3 U.K. 4.4 Middle East and Africa 4.5 China 4.6 Asia-Pacific and Japan 4.7 Rest-of-the-World
5 Market - Company Profiles 5.1 Company Overview 5.1.1 Role in Global Cultured Meat Market 5.1.2 Product Portfolio 5.1.3 Production Sites 5.2 Business Strategies 5.2.1 Market Developments 5.3 Corporate Strategies 5.3.1 Partnerships and Collaborations 5.4 Strengths and Weaknesses