DUBLIN–(BUSINESS WIRE)–The “The Global Market for Cultured Meat – Market Size, Trends, Competitors, and Forecasts (2023)” report has been added to ResearchAndMarkets.com’s offering.
This report reveals all major market competitors worldwide, including their strategic advantages, core technologies, and products under development.
It describes the current state of cultured meat research, as well as emerging technologies, patents, funding events, scientific papers, strategic partnerships, and the market’s presumed trajectory toward global adoption. It presents a comprehensive market size breakdown segmented by type of meat and geography. It also provides future projections through 2032, segmented by type of meat, geography, and year.
The number of startups focused on developing cultured meat (and the required cell culture media, supplements, and methods to produce them) has been rising year after year. There are now an impressive 99 companies worldwide developing cultured meat components, services, and end-products, compared to only four in 2016. Additionally, nearly 40 life science firms have declared and formally launched products to supply market competitors with the essential inputs they need to support cultured meat and seafood production.
Because cultured meat is an early-stage industry, the language to describe it is evolving in real-time. Currently, company executives use a range of terms to describe the field, including but not limited to cultured meat, cultivated meat, cell-based meat, clean meat, cellular agriculture, and lab-grown meat, as well as slaughter-free meat and ethically grown meat, to a lesser extent. The potential of cultured meat has captured the imagination of investors, researchers, and consumers alike.
Although the cultured meat market is a nascent industry, 2020 was a landmark year because a cultured chicken product developed by the company Eat Just made its debut on a restaurant menu in Singapore, after the country’s food agency approved its sale to the public. The regulatory approval of this cellular food product within Singapore provides hope that other regulatory approvals could follow worldwide.
Flow of capital into the cultured meat industry has also grown substantially in recent years, reaching approximately $1.0 billion per year. Major investments within the cultured meat market have included Cargill’s investment into Memphis Meats and Aleph Farms, as well as Tyson Foods Venture Fund’s investments into Memphis Meats and Future Meat Technologies. Wealthy investors are also piling into the cultured meat market.
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