Rising degree of meat and meat products consumption due to extensive health awareness and need for nutrients, rising trend for processed and packaged food due to rising women workforce and growing e-commerce companies in the food industry are contributing to the growth of Cultured Meat market across the globe. Moreover, the demand for animal protein, specifically from sports and fitness enthusiasts is propelling the demand for cultured meat in the market.
North America acquired the major share in the Global Cultured Meat market 2019 on an account of the larger consumer base coupled with the increasing consumption of meat and meat products such as nuggets, burgers, sausages, etc. Moreover, higher disposable income coupled with the rising trend of partying and get togethers among the young consumers are contributing to the demand for the meat and meat products.
|Study Period||Historical Data: 2015-19|
|Base Year: 2019|
|Forecast Period: 2020-25|
|Regions Covered||North America: US, Canada, Mexico|
|Europe: Germany, UK, France, Italy|
|Asia-Pacific: China, India, Japan, South Korea|
|South America: Brazil|
|Africa: South Africa|
|Middle East & Africa: UAE, Qatar, Turkey, Saudi Arabia|
|Key Companies||Memphis Meats, MosaMeat, SuperMeat, Just, Inc, Integriculture, Aleph Farms Ltd, Finless Foods Inc., Avant Meats Company Limited, Balletic Foods, Future Meat Technologies|
|Unit Denominations||USD Million/Billion|
Moreover, the variants offered by the companies in the burger, hotdogs, and sausages are expected to contribute to the growth of the market.
In 2019, the nugget segment dominated the Cultured Meat market due to the rising consumption of snacking products due to the ease of cooking and lesser cooking time. Also, the trend of dining out across the globe and demand for the starters are contributing to the nugget segment to grow.
Entrance of New Start-Ups to Escalate Competition
The entry of new players in the industry is making the industry competitive. The key players in the industry are Memphis Meats, MosaMeat, Super Meat, Just, Inc, Integriculture, Aleph Farms Ltd, etc. The new start-up is setting up new plants for the manufacturing. For instance, Future Meat Technologies the company raised USD 14 million and build a production plant in 2019.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics