Revolutionizing Protein: The Rising Cultured Meat Market
The global cultured meat market is set to witness cultured meat market growth at a CAGR of 18.7% and top a valuation of US$ 22.6 Billion by 2032.
The COVID-19 epidemic, which is devastating the food and beverage industry, is expected to cause a fall in sales of cultured meat.The production of cultured meat is mostly a microbiological process, and the market for it is growing swiftly.
Consumer desire for cultured meat and changes in lifestyle following the coronavirus illness outbreak may have a significant impact, which is anticipated to play a crucial role in the market for cultured meat.
The COVID-19 disease pandemic would have a major to moderate impact on the market for cultured meat. As more people turn to sustainable food sources, the demand for cultured beef is increasing. This is so because the product is unique and was made in a creative way.
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However, as of right now, only Singapore has authorised the sale of cultured meat products, followed by the US and a few other industrialised nations in terms of the key trends and opportunities in the cultured meat business.
The market for cultured meat is anticipated to rise as environmental and animal welfare concerns become more prevalent.
The growing demand for cultured meat has recently been addressed by commercial manufacturing, which relieves pressure on traditional meat sources and is anticipated to improve animal welfare.
Key Takeaways from Market Study
The cultured meat market is worth of US$ 4.1 Billion sales in 2022.
The cultured meat market is expected to expand at CAGRs of 18.7% through 2032.
Global demand for cultured meat is projected to grow year-on-year (Y-o-Y) growth of 12.7% in 2022.
The cultured meat market is growing with a notable boost towards the production to reach USD 22.6 Billion by 2032.
Innovating formulations, research patenting, and sustainability are the factors driving cultured meat market growth to be the influencing factors among consumers, which is driving sales of cultured meat across global cultured meat market.
Competitive Landscape
Since the demand for cultured meat is increasing, particularly in developed countries, cultured meat producers are gaining a competitive advantage in the cultured meat market.
Cultured meat is one of the most important research projects in the last decade, and it is about to hit the cultured meat market with greater potential. This is further enhancing the global cultured meat market’s favourable market scenario.
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Cultured Meat Market By Category
By Meat Type:
Poultry
Pork
Beef
Seafood
Others
By Application:
Food Services Industry
Pet Food Industry
Others
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa
Frequently Asked Questions
How much worth is the Cultured Meat Industry?
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