Lab-Grown Meat Market Size- Historical Growth, Analysis, Opportunities and Forecast To 2028

Research Nester has released a report titled Lab-Grown Meat Market – Global Demand Analysis & Opportunity Outlook 2028″ which delivers detailed overview of the global lab-grown meat market in terms of market segmentation by meat type, end use, application and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

The lab-grown meat market issegmented by meat type into poultry, beef, pork, duck, seafood and others, out of which, the poultry segment is anticipated to hold the largest market share owing to the growing production and trade of poultry meat as compared to other meat products. On the other hand, numerous benefits associated withpoultry meatas compared to other meat product types, such as presence of omega-3 fatty acids, along with lack of trans fats, which is known for the contribution to coronary heart diseases, are some of the factors anticipated to drive the growth of the segment in the global lab-grown meat marketIn the statistics by the Food and Agricultural Organization (FAO) of the United Nations, during the year 2019, production, import and export of poultry meatconstituted to 133575 thousand tonnes, 12518 thousand tonnes and 13880 thousand tonnes respectively.

The lab-grown meat market isanticipated to record a significant CAGR throughout the forecast period, i.e. 2020-2028. Increasing demand for food products, backed by the growing population worldwide, coupled with the rising consumption of meat and meat products around the world and the increasing trade on meat products between nationsare some of the factors anticipated to promote the growth of the global lab-grown meat market. In other statistics by the Food and Agricultural Organization (FAO) of the United Nations, during the year 2019, meat exports around the world expanded by 6.8% to 36 million tonnes. Further, the statistics also stated that the largest growth that was registered was for pig meat, followed by bovine and poultry meats.

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Regionally, the lab-grown meat marketsegmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is anticipated to hold the largest market shareon account of increasing awareness for lab-grown meat and meat products amongst the individuals, growing concepts of vegan foods and the growing demand for lab-grown meat from end-user industries, especially food supply chains, in the region are some of the factors anticipated to drive the growth of North America lab-grown meat market.

Growing Demand for Alternative Protein Sources

The population of the world is increasing consecutively throughout the years. As such, there is an increasing need to find alternative sources of food that can help balance the total food stock available for consumption. Lab-grown meats, which are developed from the advancements in tissue culture technologies, are produced from in-vitro cultivation in laboratories or a pre-set environment setting. As these meat is grown artificially, they are clean and does not require to slaughter animals, which is also one of the major causes of concern amongst the individuals. Moreover, production of lab-grown meat provides more control to the producers as the production quantity can be manipulated based on the demand from end users, therefore reducing the wastage of food as well as the environmental costs associated to the conventional meat sources. Such factors are anticipated to drive the growth of the global lab-grown meat market.

However, concerns regarding the high cost of production, lack of awareness for lab-grown meat, unavailability of proper infrastructure and unavailability of skilled laborers for the manufacturing of lab-grown meat products are some of the factors anticipated to impact negatively towards the growth of the global lab-grown meat market.

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This report also provides the existing competitive scenario of some of the key players of the global lab-grown meat market, which includes company profiling of Aleph Farms Ltd., Mosa Meat BV, Eat JUST Inc., Meatable, Memphis Meats, SuperMeat, Finless Foods Inc., IntegriCulture Inc., Avant Meats Company Limited and Balletic Foods. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the globallab-grown meatmarket that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

Research Nester is a one-stop service provider, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives to make wise decisions for their future investment and expansion by providing them qualitative market insights and strategies while avoiding future uncertainties. We believe in honesty and sheer hard work that we trust is reflected in our work ethics. Our vision is not just limited to gain the trust of our clients but also to be equally respected by our employees and being appreciated by the competitors.

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