Cultured meat market expected to grow fast in the next decade
Meats and Markets has released the report "Cultured Meat Market by Source (Poultry, Pork, Beef, Duck), End-Use (Nuggets, Burgers, Meatballs, Sausages, Hot Dogs), and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) - Global Forecast to 2027" in which it analyses the clean meat market development between 2021-2027.
Increased demand for alternative meat proteins, growing food safety concerns, and technological advancements in cellular agriculture are factors that could ensure a Compound Annually Growth Rate of 4% during the forecast period, mentions the report according to The Daily Meal.
Chicken clean meat is going to have the biggest impact on the global market as the analysts are convinced that low price of poultry meat as compared to other meats, increased demand for protein-rich food, and the expansion of poultry-based quick service restaurants, especially in the Middle East region are some of the factors expected to boost the demand for this type of products.
Also, clean meat is going to be served to the end user under the shape of nuggets with a high demand recorded in major regions such as North America and Europe. North America is going to lead the new trend in production of lab-grown meat thanks to factors such as high spending on advanced R&D facilities necessary for cultured meat development, the growing trend of consumption of meat substitutes and alternative proteins, and the presence of players such as JUST, Inc. and Memphis Meat.
(Photo source: Financial Tribune)
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