Cultured Meat Market Size To Reach USD 2788.1 Million By 2030 at a CAGR of 95.8% - Valuates Reports
BANGALORE, India, April 12, 2021 /PRNewswire/ -- The Cultured Meat Market is segmented by Type (Red Meat, Poultry and Seafood), End User (Household and Food Services. This report covers Global Opportunity Analysis and Industry Forecast from 2022 to 2030. This report is published on Valuates Reports in the Food Category.
The Cultured Meat Market size was valued at USD 1.64 Million in 2021 and is estimated to reach USD 2788.1 Million by 2030, registering a CAGR of 95.8% from 2022 to 2030.
Major factors driving the growth of cultured meat market size are :
- Benefits associated with cultured meat, such as low environmental impact, eliminating the need to raise animals and a decrease in public health risks & rise in people who are allergic to animal meat.
- Rise in concerns about animal welfare and focused research to reduce the cost of cultured meat production.
- The growing trend in acceptance of lab grown meat production and sale by various countries is expected to drive the market growth in the forecast period.
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TRENDS INFLUENCING THE GROWTH OF CULTURED MEAT MARKET SIZE
Consumers are turning their attention to adopting a more nutritional diet that promotes a more healthy lifestyle and reduces reliance on animal proteins. Cultured meat can be seen as an alternative protein product. Furthermore, people who are allergic to animal-based proteins make up the majority of alternative protein buyers. These features are in turn expected to increase the growth of cultured meat market size.
Animals are selectively bred and often crammed together in cages, crates, or pens where they are unable to engage in natural behavior. Cultured meat has the potential to end the suffering of billions of farm animals every year.
The overuse of antibiotics in animal farming has been highlighted as one of the biggest emerging threats to human health as we build up resistance to vital drugs. Essentially many common infections will no longer have a cure and will, once again, kill in huge numbers as they did hundreds of years ago. If antibiotics lost their effectiveness, it would spell the end to modern medicine. Cultured meat involves zero antibiotics. This feature is expected to increase the growth of cultured meat market size.
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CULTURED MEAT MARKET SHARE ANALYSIS
Based on end-users, In 2021, the foodservice segment accounted for roughly one-third of the global cultured meat market share, and this share is projected to hold steady over the forecast period. Rapid urbanization, an increase in disposable income, and an increase in the trend of eating out are all contributing factors.
Based on the region, Asia-Pacific is expected to dominate the cultured meat market in 2021, and it is predicted to continue to do so over the forecast period. This is due to rising economies and rising population, resulting in increased meat consumption and market affordability for premium goods.
Based on type, the Red Meat segment held the major share of 91.5% in 2021.
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KEY MARKET SEGMENTS
By Type
- Red Meat
- Poultry
- Seafood
By End User
- Household
- Food Services
By Region
- North America
- U.S.
- Rest of North America
- Europe
- UK
- Switzerland
- Germany
- Italy
- Belgium
- The Netherlands
- Rest of Europe
- Asia-Pacific
- Singapore
- Japan
- China
- Rest of Asia
- Rest of the World
- Israel
- UAE
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SIMILAR REPORTS
- The global Meat market was valued at USD 346280 Million in 2019 and is expected to reach USD 438750 Million by the end of 2026, growing at a CAGR of 3.4% during 2021-2026.
- The global Meat Testing market size is projected to reach USD 10300 Million by 2026, from USD 6571.4 Million in 2019, at a CAGR of 6.2% during 2021-2026.
- Global Mycoprotein Market by Product-Type: Feed Grade, Food Grade, Application: Meat Alternatives, Meat Extenders, Pet Food, Feed, Others, by key players, by Regions: North America, Europe, China and Japan, etc.
- Global Lab-Grown Meat Market by Product-Type: Poultry, Beef, Pork, Duck, Seafood, Others, Application: Food Service Channels, Food Retail, by key players, by Regions: North America, Europe, China and Japan, etc.
- Global Plant-Based Alternative Meat Market by Product-Type: SoyBean Based, Rice and Other Based, Application: Restaurants, Retail, Other, by key players, by Regions: North America, Europe, China and Japan, etc.
- Stem Cell Artificial Meat Market by Product-Type: Bovine Stem Cell Artificial Meat, Fish Stem Cell Artificial Meat, Others, Application: Restaurant, Retail, Others, by key players, by Regions: North America, Europe, China and Japan, etc.
- Global Synthetic Meat Market by Product-Type: Chicken, Beef, Fish, Other, Application: Direct Sales, Indirect Sales, Other,by key players, by Regions: North America, Europe, China and Japan, etc.
- Global Meat Alternatives Snacks Market by Product-Type: Soy-Based, Wheat-Based, Mycoprotein, Other, Application: Supermarkets and Hypermarkets, Independent Retailers, Specialist Retailers, Online Retailers, by key players, by Regions: North America, Europe, China and Japan, etc.
- Global Meat-free Meat Market by Product-Type: Soy Source, Wheat Source, Others, Application: Supermarkets, Independent Retailers, Convenience Stores, Online Retailers, Others, by key players, by Regions: North America, Europe, China and Japan, etc.
- Vegan Meat Market by Product-Type: Tofu, Tempeh, Textured Vegetable Protein, Seitan, Quorn, Other Product Types, Application: Food Chain Services, Modern Trade, Departmental Stores, Online Stores, Others, by key players, by Regions: North America, Europe, China and Japan, etc.
- Artificial Meat Market by Product-Type: Meat, Meat product, Application: Restaurant, Retail, Others, by key players, by Regions: North America, Europe, China and Japan, etc.
- Global Meat Substitutes Market by Product-Type: Tofu & Tofu Ingredients, Tempeh, Textured Vegetable Protein (TVP), Seitan, Quorn, Application: Commercial, Household, by key players, by Regions: North America, Europe, China and Japan, etc.
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