Among consumers, cultured meat is becoming increasingly popular in the meat, poultry, and seafood market
LONDON, Nov. 9, 2022 /PRNewswire/ — Cultured meat is an emerging trend gaining popularity in the meat, poultry, and seafood market. Cultured meat or lab-grown meat will be an emerging area of investment in the meat industry. Cultured meat is defined as meat that is grown in cell culture, rather than in an animal’s body, it provides sustainability, environmental friendliness, animal welfare, food safety and novel foods. Stem cells are differentiated and expanded in cell culture to produce quantities of edible meat protein in the laboratory. Using this approach to meat protein manufacture has obvious animal welfare benefits but in spite of this their wide acceptance is still questionable.
The global meat, poultry and seafood market size grew from $1.36 trillion in 2021 to $1.47 trillion in 2022 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The meat, poultry and seafood market is expected to grow to $1.84 trillion in 2026 at a CAGR of 5.7%.
As per the meat, poultry and seafood market overview, the increased demand for quality and sustainability will support the growth of the meat, poultry, and seafood market. A growing group of consumers is prepared to spend more on meat from animals that have been kept in better conditions. Sales of meat from free-range and organic chickens are on the rise, and the same trend can be seen with free-range and organic eggs.
Climate Change And Global Warming – Among The Key Restraints For The Meat, Poultry And Seafood Market
Climate change and global warming are expected to moderately affect the meat, poultry and seafood market during the forecast period. An increase in animal agriculture for meat production releases a high amount of methane gas which contributes to global warming. Following this, several government organizations raised awareness on the harmful effects of animal agriculture to meet the demand for meat, urging people to switch to vegetarian diet forms.
Meat, Poultry And Seafood Market Segments
The global meat, poultry and seafood market analysis is segmented –
- By Type: Meat Products, Poultry, Seafood
- By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels
- By Nature: Organic, Conventional
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