Increasing consumption of the poultry, seafood, and pork coupled with the entrance of new players such as Cragill and Tysonfoods, that offers the meat and meat products across the globe is propelling the cultured meat market across the globe. Moreover, the increasing health awareness coupled with the introduction of halal food and other food which are of low calorie is contributing to the demand for the cultured meat market.
Moreover, the growing e-commerce sector and the investment by the government for the refrigerated transportation system and cold storage facility is helping the cultured meat market to grow. Also, the presence of retailers and manufacturers on the online platform and the rising number of supermarkets/ hypermarkets across the globe is helping the cultured meat market to grow.
According to the MarkNtel Advisors’ research report, “Global Cultured Meat Market Analysis, 2020”, the global cultured meat market is set to grow at a CAGR of around 16% during 2020-25 on account of the increasing need for the protein, vitamins, and minerals in the body. Moreover, the increasing number of fitness and gym enthusiasts across the globe is contributing to the demand for cultured meat.
In 2019, North America dominated the global cultured meat market on account of the rising consumption of poultry meat. According to OCED, the consumption of poultry meat (kg/capita) in the US increased from 45.18 in 2014 to 49.68 in 2019. The same way the consumption in Mexico increased to 28.75 kg/capita in 2019 from 26.44 kg/ capita in 2014. Moreover, the Poultry segment grabbed the major market share in 2019 due to the easy availability of the products and the comparatively cheaper in comparison to other products and consumption at a larger level.
Nuggets segment dominated the culture meat market in 2019 due to the popularity of snacking products among millenniums. Moreover, the companies' innovation to offer the variants in the nuggets segment is contributing to the segment for growth. For instance, companies such as Cargill and Tyson Foods are now focused on the development of the clean and cultured meat chicken products and would offer in the form of the nuggets to the end users, as revealed by MarkNtel Advisors, in its report on “Global Cultured Meat Market Analysis, 2020”
According to MarkNtel Advisors, the global cultured meat industry is moving towards fragmentation on account of the entrance of new startups in the industry. The leading players operating the industry with considerable market share are Memphis Meats, MosaMeat, SuperMeat, Aleph Farms Ltd, Avant Meats Company Limited, etc.
The seed funding and the investments by the established players in the startups are creating the competition higher across the industry. For instance, SuperMeat, an Israeli company announced that the company raised around USD 4 million in 2019 for the mass production of cultured chicken meat. Moreover, Super meat announced in 2019 that the company raised around USD 3 million for the development of clean cultured chicken.
“Global Cultured Meat Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the market potential, regional opportunities, key factors impacting sales and purchase decision, hotspots and opportunities available for cultured meat providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the competition assessment, formulation of Go to Market Strategies and identifying the blue ocean for their offerings.
1. By Source Type (Poultry, Beef, Seafood, Pork, Duck)
2. By End Use (Nugget, Burger, Meat Balls, Sausage, Hotdogs)
3. By Region (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
4. By Country (The United States, Canada, Mexico, Brazil, Germany, The U.K, France, Italy, Spain, Russia & CIS, Saudi Arabia, UAE, Qatar, Turkey, South Africa, Egypt, China, India, Japan, South Korea, South East Asia)
5. By Competitors (Memphis Meats, MosaMeat, Super Meat, Just, Inc, Integriculture, Aleph Farms Ltd, Others)
Key questions answered in the study
1. What are the current and future trends of the global cultured meat market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the globe?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the global cultured meat industry?
6. What are the customer orientation, purchase behavior, and expectations from the cultured meat provider across various regions?