Cell-based Meat Market is anticipated to grow at a CAGR of ~16.0 from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Cell-based Meat Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global cell-based meat market is estimated to be over US$ 195.0 million by 2025. It is anticipated to grow at a CAGR of ~16.0 from 2019 to 2030.
Growing population across countries worldwide has significantly overburdened the production capacity of food resources, which in turn is leading to catastrophic outcomes for the climate. However, to tackle this threat, novel technologies is anticipated to play a significant role in the years to come. Growing meat under controlled environment like laboratories, causes minimal environmental impact, as it utilizes lesser amount of resources. For instance, culturing of cell-based meat reduces nutrient pollution, & land use by 94% & 95% respectively. Similarly, it also lowers climate change emissions by a staggering 74%-87%.
The growth of the cell-based meat industry has also been complimented by favorable regulatory policies put forth by several government bodies. For instance, in 2018, U.S. Department of Agriculture (USDA) and the U.S. Food & Drug Administration (FDA), came to an agreement to support cell-based meat ecosystem in the country by simplifying the approval procedure for new cell-based meat products. Similarly, companies are also actively seeking regulatory approvals for products in countries other than United States.
Partnerships, agreements and investments have also played a pivotal role in boosting the global cell-based meat market. For instance, the industry witnessed a remarkable count of 11 deals, amounting to ~US$ 45 million in 2018 alone. Similarly, partnerships and agreements between life sciences industry and cell-based meat manufacturers, is anticipated to provide impetus to the global market. For cell-based meat companies overcoming all hurdles in-house may end up being a challenging task. To overcome this barrier, partnerships and agreements may take place in the form of contract service providers, or material providers or co-development partners to enable adoption of innovative technologies. For instance, in 2018, Merck through its Venture Capital (VC) arm M Ventures, entered into an agreement with Mosa Meat. The partnership was aimed to assist Mosa Meat with innovative solutions, expertise and infrastructure in culturing cells and producing high quality and scalable cell media.
Browse key industry insights spread across 180 pages with market data tables & figures & charts from the report, Cell-based Meat Market by Source (Poultry, Beef, Seafood, and Pork), and Source (Ground Meat Products and Cut Meat Products) – Market Potential Assessment (Market Size & Forecast, 2019-2030) in detail along with the table of contents:https://www.marketindustryreports.com/cell-based-meat-market/173
Although the growth prospect of global cell-based meat market is extremely propitious, but capitalizing on opportunities would require crossing several hurdles. For instance, developing clean cell-based meat faces four critical technological challenges, viz., cell line development, cell culture nutrient media, scaffolding & product structuring and bioreactors in which the process takes place. Overcoming these challenges while simultaneously maintaining an affordable price tag to ensure wide scale adoption of these products is one of the major challenge witnessed by the industry.
North America is estimated to account for the highest market share in the global cell-based meat market in the coming years. The large share of this region can be attributed to several factors such as rising awareness regarding one’s health, growing consciousness about environmental impact of overpopulation & over-cultivation of agricultural lands, and favorable government regulations supporting easier product launch. Moreover, presence of several major players in the cell-based meat industry such as JUST, Memphis Meats, Wild Earth, New Age Meats, and Wild Type among others, is another critical factor that is expected to bear conclusive results for the market in this region in the coming years.
The prominent players in the global cell-based meat market are Aleph Farms, BlueNalu, JUST, Memphis Meats, Mosa Meat, Wild Earth, Future Meat Technologies, Cubiq Foods, New Age Meats, Meatable, among others.
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