Lab Grown Meat Market - Global Opportunity Analysis and Industry Forecast (2022–2029)

 Meticulous Research^®—the leading global market research company, published a research report titled, ‘Lab-grown Meat Market by Type (Beef, Pork, Poultry, Seafood), Application (Meatballs, Burger Patties, Hot Dogs & Sausages, Nuggets), Distribution Channel (Business-to-Business, Business-to-Consumer), and Geography—Global Forecast to 2029’

According to this latest publication from Meticulous Research^®, the global lab-grown meat market is expected to grow at a CAGR of 19.4% during the forecast period 2022–2029 to reach $317.2 million by 2029. Factors such as technological advancements in cellular agriculture, rising investment by key industry leaders, increasing focus on animal welfare, and increased demand for animal-based processed food products are driving the growth of this market. However, high investment costs and a stringent regulatory environment restrain the growth of this market to some extent. In addition, the increasing demand for alternative proteins and high per capita meat consumption provide significant growth opportunities for lab-grown meat manufacturers. Focus on reducing animals slaughtered for food and development of novel sustainable protein sources are the key trends impacting the lab-grown meat market.

The global lab-grown meat is segmented by type, application, distribution channel, and geography. The study also evaluates industry competitors and analyses the market at regional and country levels.

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Scope of the report

Lab-grown Meat Market, by Type                     

·         Beef

·         Pork

·         Poultry

·         Seafood

·         Others

Lab-grown Meat Market, by Application                          

·         Meatballs

·         Burger Patties

·         Hot Dogs & Sausages

·         Nuggets

·         Other Applications

Lab-grown Meat Market, by Distribution Channel          

·         Business-to-Business

·         Business-to-Consumer

Lab-grown Meat Market, by Geography

·         North America

o    U.S.

o    Canada

·         Europe

o    Germany

o    U.K.

o    Rest of Europe (RoE)

·         Asia-Pacific (APAC)

o    China

o    Japan

o    Singapore

o    Rest of Asia-Pacific (RoAPAC)

·         Latin America

·         Middle East & Africa

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Based on type, the global cultured meat market is segmented into beef, pork, poultry, seafood, and others. In 2022, the poultry segment is estimated to account for the largest share of the lab-grown meat market. The large market share of this segment is attributed to the popularity of poultry products in various quick-service restaurants and the comparatively lower price of lab-grown poultry meat than other types. However, the fish segment is expected to grow at the fastest CAGR during the forecast period. The rapid growth of this segment is attributed to increasing environmental challenges for aquaculture and increasing investments in cell-based seafood.

Based on application, the global lab-grown meat market is segmented into meatballs, burger patties, hot dogs & sausages, nuggets, and other applications. In 2022, the meatballs segment is estimated to account for the largest share of the lab-grown meat market. The large market share of this segment is attributed to the increased sale of ready-to-cook foods, high demand for convenience food, and shifting food consumption behavior. However, the burger patties segment is expected to grow at the fastest CAGR during the forecast period. The rapid growth of this segment is attributed to the growing popularity of burger patties as ready-to-eat foods, the increasing quick-service restaurants market, and increasing innovative product launches by burger manufacturers.

Based on distribution channel, the global cultured meat market is segmented into business-to-business and business-to-consumer. In 2022, the business-to-business segment is estimated to account for the largest share of the lab-grown meat market. The large market share of this segment is attributed to the increased number of fast-food restaurants and high demand for ready-to-eat food. However, the business-to-customers segment is expected to grow at the fastest CAGR during the forecast period. The rapid growth of this segment is attributed to improving shopping experience, increasing online purchases, and a growing number of modern groceries with higher-quality product offerings.

Based on geography, in 2022, North America is estimated to account for the largest share of the overall lab-grown meat market. The large market share of this segment is attributed to the increasing adoption of on-the-go lifestyle, consumption of snacking products, consumption of convenience food products, and rising number of flexitarians. This region is also expected to grow at the fastest CAGR during the forecast period due to increasing spending for efficient R&D by key players, increasing health concerns about the consumption of meat products, and increasing investors’ interest in alternative proteins.

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Key Players

The key players operating in the global lab-grown meat market are Just, Inc. (U.S.), Mosa Meat (Netherlands), Memphis Meats (U.S.), SuperMeat (Israel), Wild Earth Inc. (U.S.), Avant Meats Company Limited (China), Aleph Farms Ltd. (Israel), Biofood Systems Ltd. (Israel), Finless Foods, Inc. (U.S.), Future Meat Technologies Ltd. (Israel), Integriculture Inc. (Japan), Appleton Meats (Canada), Higher Steaks (U.K.), Meatable (Netherlands), BlueNalu, Inc. (U.S.), Shiok Meats (Singapore), Seafuture Sustainable Biotech (Canada), Lab farm Foods (U.S.), Cubiq Foods (Spain), and Granja Celular S.A (Argentina).

Key questions answered in the report-

·  Which are the high-growth market segments in terms of type, application, distribution channel, and geography?

·  What is the historical market for lab-grown meat across the globe?

·  What are the market forecasts and estimates for 2022–2029?

·  What are the major drivers, restraints, opportunities, challenges, and trends in the global lab-grown meat market?

·  Who are the major players in the global market, and what market share do they hold?

·  Who are the major players in various countries, and what market share do they hold?

·  How is the competitive landscape?

·  What are the recent developments in the global cultured meat market?

·  What are the different strategies adopted by the major players in the market?

·  What are the key geographic trends, and which are the high-growth countries?

·  Who are the local emerging players in the global cultured meat market, and how do they compete with other players?

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