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The global cultured meat market size may reach $ 352.4 million by 2028
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Tuesday, 25 May, 2021, 12 : 00 PM [IST]
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Our Bureau, Mumbai
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The global cultured meat market size is expected to reach US$352.4 million by 2028 according to a new study by Polaris Market Research. The report “Cultured Meat Market Share, Size, Trends, Industry Analysis Report, By Production Technique (Scaffold-Based Technique, Self-Organizing Technique, Cell Culture Media); By Source (Seafood, Beef, Poultry, Pork); By End-Use (Sausages, Nuggets, Meatballs, Hot Dogs, Burgers); By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The market is projected to witness growth over the forecast period. Consumers are inclined towards consumption of cultured meat to focus on healthy and clean eating habits and reduce cholesterol intake. The rising shift of consumers towards vegan and vegetarian diets also increases the demand for cultured meat. Growing awareness regarding animal welfare, increasing demand for meat products, the need for enhanced food safety, and rising disposable income are some factors boosting the market growth.
With increasing investments in the global cultured meat market, companies, manufacturers, and private organizations are collaborating to expand and cater to wider applications. In January 2018, Tyson Foods, Inc. made an investment in Memphis Meats, which is a food tech company working towards producing cultured meat from animal cells.
The investment aims at catering to the growing global demand for protein. Through this investment, the company focusses on entering the cultured meat market to address challenges regarding the environment, animal welfare, and public health.
The nuggets segment is expected to account for the highest share during the forecast period. The increasing demand for healthy snacks and on-the-go meals has increased the demand from this segment. Companies operating in this segment are developing healthy snacking products for specific demographics such as children and the aging population.
The different techniques for cultured meat production include scaffold-based technique, self-organising technique, cell culture media, and others. The self-organising technique is used for the production of complex structures in cultured meat products. Production of complex structures such as steak requires 3-dimensional tissue production using animal tissue explants.
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