Quotes from openPR.com, February 19, 2024
The market for meat grown in labs has expanded quickly in recent years. It is projected to increase from $7.87 billion in 2023 to $9.31 billion in 2024, with a compound annual growth rate (CAGR) of 18.4%. The factors driving the growth in the historic period include environmental concerns, health and nutrition, investment influx, consumer acceptance, cost reduction, culinary innovation.
The market for meat grown in labs is projected to expand rapidly in the coming years. It is estimated to reach $17.18 billion by 2028, with a CAGR of 16.5%. This growth is driven by factors such as scaling up production, entering new markets, establishing global regulations, creating a competitive environment, customizing nutrition, and promoting brand awareness.
Some of the key trends in this period are technological innovation, product diversification, investment and funding, collaboration and partnership, and increasing capacity.
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