Cultured Meat Market: What’s in store?
What is cultured meat?
Cultured meat is manufactured in labs referred to as clean meat, and synthetic meat is manufactured by painless harvesting of muscle cells from a living organism with by in vitro meat and of cellular agriculture. The cell is then nurtured and feed so that it can multiply and form muscle tissue. This muscle tissue is the main component of the meat. The cultured meat has the same texture, biological, and natural form as normal meat tissues. The stages of cultured meat could be divided into four wide steps, which include starter cells, growth medium, scaffold, and other considerations. The starter involves the collection of the cell, which shows a rapid rate of proliferation (high cell reproduction rate). The growth medium stage includes the treatment of the cell with protein, which would help in tissue growth. This stage also involves providing all the important nutrients which help in cell growth. In the scaffold stage, the meat is then grown on a scaffold. This component directs the order and structure of the meat. The other consideration involves maintaining and monitoring the meat through all the stages.
Different Technique, Source & End-use Applications
The cultured meat market by technique has been segmented into self-organizing technique, scaffold-based technique, cell culture media, scaffolding and structuring, and bioreactors. Further, by source, the market has been segmented into poultry, pork, beef, and duck. The cultured meat market segmented by the source is led by poultry. Veganism involves refraining from the use of animal products, particularly in diet. Non-vegetarians who have turned vegans prefer poultry as the most preferred form of meat source for cultured meat over beef, duck, and pork. Beef followed poultry in terms of revenue in 2018, while pork is expected to grow the fastest during the forecast period 2019-2024.
North America is the largest market for cultured meat
North America is expected to hold the largest share in the global cultured meat industry. North America accounted for a share of 51.46% in terms of revenue in 2018. There is a lot of investment put in the research and development of cultured meat in this region, and most of the key players are based out of this region. Further, shifting focus toward alternative protein and environmental sustainability are key factors in driving the market in the region. The cultured meat market size in the Middle East is expected to follow North America in terms of revenue share and is also expected to grow the fastest during the forecast period.
Growing preference for a vegetarian and vegan lifestyle is a key factor driving the cultured meat market. Veganism has grown exponentially over the last few years; social media has played a key role in driving this lifestyle. Thus cultured meat is popular with non-vegetarian consumers who have adopted to veganism. Further, it has been scientifically proved that this form of lifestyle is healthier than the traditional form of food consumption. According to an article published by the Harvard Health Publishing, in October 2018, has mentioned that a vegan way of life is much healthier than traditional diets.
Key Companies Outlook
The manufacturers of cultured meat in order to address the increasing competition in the market are adopting various strategies. Product innovation is the key strategy used by the players in the cultured meat market to gain a competitive advantage over its competitors. On July 2019, Aleph Farms announced that they have successfully developed steak in a laboratory. The company is in further talk with some high-end restaurants in the U.S. to market such laboratory-developed meat. On July 2019, Mosa Meat announced that the company has successfully manufactured lab-grown hamburgers and burger meat
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The Cultured Meat top 10 companies include Aleph farms, Finless Foods, Future Meat Technologies, Integriculture INC., JUST INC., Memphis Meats, Modern Meadow, Mosa Meat, Super Meat, Wild Earth INC. (U.S.)