Growing Consumer Demand for Substitute of Animal-Based Products

Cultured meat is described as lab-grown meat produced in a culture medium using various tissue engineering techniques. This meat is also called clean meat, synthetic meat, and in vitro meat. Cells from an animal are gathered and grown in an enriched medium to produce cultured meat. As a result of being raised in an aseptic and strictly regulated environment, the final meat produced is free of any harmful organisms.

Cultured meat has a range of benefits over traditional meat, including being healthier and free of foodborne as well as nutrition-related diseases. Cultured meat is processed from a variety of sources, including pork, poultry, fish, beef, and duck. The poultry category is projected to have the largest share, owing to the increasing popularity of poultry products in various quick-service restaurants across the globe.

Key Trends Observed in Cultured Meat Market

In the artificial meat industry, there are many alternative sources of meat, such as plant-based meat substitutes and genetically modified organisms, but the advent of cultured meat has effectively driven the market because it has a similar taste to traditional meat. Clean meat, synthetic meat, and lab-grown meat are all terms used to describe cultured meat.

The key drivers of the global cultured meat market are increased stress on conventional meat sources, improved palatability of cultured meat, consumer health awareness, inefficient nutrient conversion of natural meat, unconventional use of natural resources, non-availability of exotic meat, and enhancement of clean meat with additional nutrients.

The coronavirus epidemic has forced the closure of manufacturing units and laboratories due to the lockdown and social distancing scenario. The supply chain has been disrupted as specialty stores and supermarkets were forced to close to enforce the social distancing, resulting in a sales slowdown. The cultured meat market is expected to benefit from the post-COVID-19 scenario, as sales and demand for traditional meat, such as beef, have fallen by half.

North America to Witness Huge Surge in Demand for Cultured Meat

Owing to high investment and continuous R&D activities from manufacturers, the North American cultured meat industry led by the Canada and United States is projected to expand rapidly. Europe, followed by France, Germany, and the United Kingdom, represents a major opportunity for the cultured meat industry, as it helps to reduce livestock production's environmental effects. According to the European Commission, if all EU-27 countries switched to cultured meat processing, water usage, GHG emissions, and land use would be reduced by two orders of magnitude relative to current meat production practices.

The demand for meat and seafood in the Asia Pacific cultured meat industry, led by India, China, Japan, South Korea, and Indonesia, is at an all-time high. The regional market growth is attributed to increasing disposable income, which leads to a shift in eating habits and consumer lifestyle. As the market for meat and seafood increases, cultured meat farmers will have more opportunities to serve a broad customer base in Asian countries.

Competitive Scenario for Cultured Meat Market

Players from around the world are navigating their interests toward new alliances, untapped markets, and an ever-changing regulatory environment. The main factor that will affect market growth is the launch of cultured meat products and research into cultured meat. The global cultured meat industry is highly fragmented, with the presence of several market participants. Some of the promising players operating in the market include Appleton Meats, Balletic Foods, Bluenalu, Inc., Integriculture Inc., Aleph Farms Ltd., Avant Meats Company Limited, Biofood Systems LTD., and Mosa Meat.

Deep-dive Insights on Cultured Meat Market by Polaris Market Research: https://www.polarismarketresearch.com/industry-analysis/cultured-meat-market/request-for-sample