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Cultured Meat Market Product type (Beef, Chicken, Pork, Others) Application (Commercial, Residential) Distribution Channel (Retail Stores, Online Stores) : Global Opportunity Analysis and Industry Forecast, 2020-2027

A06670
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Oct 2020 | 193 Views
 
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Cultured meat also known as in vitro meat is a subtype of artificial meat and is produced by tissue engineering technology and cellular agriculture.Human beings have been dependent on meat for a long time for appetite and also to fulfill the nutritional requirements because meat has been the valuable source of omega-3 fatty acids, vitamin B12, protein, and iron. Several types of research have forecast that the requirement and consumption of meat products would be doubled by 2050 and this will create a huge dependency on the conventional meat production system. The development in innovation and technology has led to the initiation of cultured meat which does not require slaughtering of any living animal for the production. The in vitro meat is grown in the laboratory by harvesting muscle cells from the animal in the culture media for growth and proliferation. The commercial production of cultured meat has led to fulfilling the growing demand for meat products and lowered down the stress on conventional meat sources.

 

Market scope and structure analysis:

Report Metric

Details

Market size available for years

2020–2027

Base year considered

2019

Forecast period

2021–2027

Forecast units

Value ($US)

Segments covered

Product Type, Application,  Distribution Channel, and Region

Regions covered

North America (U.S., and Canada), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)

Companies covered

Appleton Meats, Higher Streaks, Fork & Goode, Future Meat Technologies Ltd.,Meatable, Alephs Farms, Integriculture Inc., BioFood Systems Ltd., Redefine Meat, SavorEat, Memphis Meats, SuperMeat, Just Inc., Avant Meats Company Ltd.

COVID-19 Scenario Analysis:

  • The lockdown and social distancing scenario have caused the manufacturing units and laboratories to shut down due to the coronavirus outbreak. The supply chain has been disrupted as the specialty stores and supermarkets had to shut down to implement the social distancing and this has led to the slowdown in sales.
  • The post-COVID-19 scenario is anticipated to be beneficial for the cultured meat market as the sales and demand for conventional meat such as beef have cut half.
  • The changes in the consumer buying patterns have forecasted the use of cultured meat and alternative sources of meat to increase due to the pandemic, as the initial source of the virus is considered to be meat product.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

There have many alternative sources of meat such as plant-based meat substitute and genetically modified organisms in the artificial meat market, but the introduction of cultured meat has driven the market efficiently because it provides a similar taste of conventional meat. The cultured meat is also known as clean meat, lab-grown meat, and synthetic meat. The increased stress on conventional meat sources, health awareness among consumers, the environmental impact of natural meat, unconventional use of natural resources, increasing global warming and pollution, animal suffering caused due to slaughtering, inefficient nutrient conversion of natural meat, non-availability of exotic meat, vegan meat, an alternative source of protein, animal welfare, improved palatability of cultured meat, and enhancement of clean meat with additional nutrients are the key drivers ofthe global cultured meat market. However,availability of the substitute products, increased competition in the market, large scale cell production, the time required for producing lab-grown meat, high cost of production, and scale-up hinder the market growth.

The global cultured meat trends are as follows:

Surge in production and awareness of cultured meat

Cultured meat has increased the opportunities for consumers to use the most efficient source of protein and other nutrients without compromising their taste and health. The manufacturing of cultured meat is increasing in most of the countries as the innovation and technology such as tissue culture techniques, use of bioreactor for medium perfusion, organ printing, bio-photonics, nanotechnology, and others drives the market growth. Clean meat is also used in processed meat products such as sausages, burgers, nuggets, and others, creating a common sight in the retail market. The use of culture meat in restaurants and bars has created new commercial markets for cultured meat. The first cultured beef burger was developed and presented publically in 2013 by Dr. Mark Post in London since then many key players have invested in R&D and brought reforms in the cultured meat market.

The key manufactures have been inclined towards improving the flavor, mouthfeel, appearance of their product along with the nutrition enhancement.  Future Meat Technologies have been investing in processing the combination of blend of cultured animal fat with the plant-based protein and then further selling it to the food manufacturers globally by 2022, which will make the easy accessibility and affordability of cultured meat to both retail and consumer level. Aleph Farms, the first company to introduce lab-grown beef steaks are investing in medical techniques for growing muscle, fibers, tissues, and vessels to improve and imitate the meat consistency. The inclination of the key players and consumers towards cultured meat is reducing the harmful impact on the environment, saving the livestock, and leading towards sustainable development.   

Key Segments Covered:

Segments

Sub-segments

Product type

  • Beef
  • Chicken
  • Pork
  • Others

Application

  • Commercial
  • Residential

Distribution Channel

  • Retail Stores
  • Online Stores

Key Benefits of the Report:

  • This study presents the analytical depiction of the global cultured meat market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global cultured meat market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global cultured meat market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global cultured meat market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions Answered in the Cultured Meat Market Research Report:

  • What are the leading market players active in cultured meat market?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
 
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