January 09, 2021
According to the research report titled ‘Global Cultured Meat Market Analysis, 2020’, available with Market Study Report LLC, global cultured meat market is predicted to record substantial growth over 2020-2025.
As per the report findings, inclination towards processed and packaged food due to increasing number of e-commerce companies and working women, along with growing intake of meat and meat products owing to rising health cognizance are the key factors fueling the growth of global cultured meat market. In addition, escalating demand for animal protein, especially from fitness and sports enthusiasts is amplifying the revenues of this industry.
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The report on global cultured meat industry offers crucial data regarding growth propellers, restraints, and trends influencing this business space. It also assesses past records and current market patterns in order to calculate the growth rate of this market over 2020-2025.
Proceeding further, the research report also highlights the several market segments including source type, end use scope, and geographical fragmentation. The document also takes into consideration various industry participants, their market share and growth strategies that have helped them gain a competitive edge in this business sphere.
Based on source type, global cultured meat market size is categorized into duck, pork, sea food, beef, and poultry. With respect to end use scope, the industry is split into hot dogs, sausages, meat balls, burger, and nugget.
The nugget segment dominated the overall market in 2019, creditable to increasing intake of snacking products owing to ease of preparation and less cooking time. Furthermore, mounting demand for the starters and trend of dining out are also stimulating the industry expansion.
Considering the geographical landscape, North America held majority of global cultured meat industry share in 2019, creditable to large consumer base and growing consumption of meat and meat products in the region. In addition, higher disposable income and the growing trend of partying and get together among young consumers is boosting product demand. The variants offered by the sausages, hotdog, and burger businesses are expected to contribute to market growth in NA.
Established firms in global cultured meat market are Future Meat Technologies, Balletic Foods, Avant Meats Company Limited, Finless Foods Inc., Aleph Farms Ltd., Integriculture Inc., Just Inc., SuperMeat, Mosa Meat, and Memphis Meats.