Global Cultured Meat Market: Three Key Insights from Ken Research
Country-Niche Players Dominate the Market Holding nearly 70% of the Revenue Share Despite the Presence of about 100 Competitors Comprising Global Players, Regional Players, and Country-Niche Players find a recent market study on the Global Cultured Meat Market by Ken Research
Cultured meat, also known as cultivated meat, is animal meat that is produced by cultivating animal cells in laboratory conditions. Different kinds of techniques including cell culture media, scaffold-based techniques, and others are used to grow cultured meat.
Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.
1. Country-Niche players constitute ~90% of the Total Number of Competitors and hold ~70% of the Total Market Revenue
A comprehensive competitive analysis conducted during the Research Study found that the Global Cultured Meat Market is highly competitive with ~100 players which include globally diversified players, regional players as well as a large number of country-niche players who have their niche in the Cultured Meat Market. The regional players comprise ~8% in terms of the number of companies and hold about 25% of the market share. Key players in the market are focused on producing slaughter-free meat and are engaged in extensive research and development for advanced production methods or on reducing the prices of culture meat products to gain significant market share.
2. Leading Players Gaining Investment for Research and Development of Cultured Meat Products
Detailed comparative analysis of key competitors available within the Research Study shows that key players such as Upside Foods, Aleph Farms, and Eat Just, Inc. among others are highly focused on gaining investment as well as on getting approval for their cultured meat products to introduce it in the market. Furthermore, big giants like Cargill, Tyson Foods, and others are investing heavily in startups of cultured meat to speed up the research and development process of cultured meat products., which is expected to boost the growth of the Global Cultured Meat Market.
In January 2022, Tyson Foods announced the investment in Memphis Meats or Upside Foods, a food tech startup in cultured meat. Tyson aims for the investment to broaden its exposure to innovations and novel ways to produce meat to fulfill the growing demand for protein-rich products among consumers. Upside Foods aimed to use the investment to accelerate product development.
In December 2021, Future Meat, an emerging cultured meat company based in Israel, raised US$ 347 million in investment. The investment round was co-led by ADM, an undisclosed tech investor, and Manta Ray Ventures. The company aimed to build a large-scale production facility in the USA as well as focused on obtaining USA approval for its cell-based chicken.
3. Increased Government and Manufacturers Initiatives Promote Cultured Meat Market Growth and Development
In June 2021, the Chinese government announced a three-year government-funded initiative called “High-efficiency biological manufacturing technology of artificial meat”. Chinese government feels that cultured chicken production is in the national interest and thus funding various programs to accelerate the development process of cultured meat.
In December 2020, Eat Just, Inc., a manufacturer of healthier and more sustainable food products with the help of cutting-edge science and technology, gained its first regulatory approval for its cultured chicken from Singapore. The company aims to deliver tasty, nutritious, and safe cultured chicken products to consumers and to extend its product line.
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