The cultured meat market study
covers three scenarios, namely, optimistic, normal, and pessimistic,
considering that the market sizing is futuristic. For the normal scenario, the
global cultured meat market is projected to reach USD 15.5 Million by 2021 and
by 2027, at a CAGR of 4.0%. The market is primarily driven by factors such as
growing meat consumption, increasing interest of manufacturers in producing
alternative protein, and growing number of investors including major food
industry giants such as Cargill and Tyson Foods investing in cellular
agriculture-based technology.
Objectives of the study are as
follows:
- To define, segment, and
project the global cultured meat market size with respect to source, end
use, and key regions
- To provide detailed
information about the major factors influencing the growth of the market
(drivers, restraints, opportunity and industry-specific challenges)
- To analyze the opportunities
in the market for stakeholders and provide a competitive landscape of the
market leaders
- To project the size of the
market and its submarkets, in terms of value and volume, with respect to
the regions (along with the key countries)
- To strategically profile the
key players and comprehensively analyze their market position and core
competencies
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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.
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.
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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).
