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Global Artificial Meat Market 2021: By product (Poultry, Pork, Beef, Duck), By application (Nuggets, Sausages, Burgers, Meatballs, Hot dogs, Particular, Scope)Global Artificial Meat Market is a recent report generated by Trusted Business Insights. The study and analysis were conducted using expert opinion and inputs, as well as comprehensive primary and secondary research efforts to ascertain various aspects of the global artificial meat market. The market segmentation allows for deeper thought and comprehension in order to decisively assess, analyze, and study. Besides revenues for segments, the global, regional, and country-wise market revenue segmentation has been compiled in a methodical manner for clear understanding and flow. The Global Artificial Meat market size was valued at USD $1.59 Billion in 2020, USD $1.69 Billion in 2021, forecasted to reach USD $1.78 Billion in 2022, and is projected to reach USD $2.79 Billion by 2030, and is anticipated to expand at a CAGR of 5.8% over the forecast period from 2020 to 2030. Overview: The overwhelming requirement for meat has superseded the industrys ability to provide sufficient supplies for its consumers. As a result, the industry must find adequate solutions in the face of stiff competition faced by several emerging non-traditional meat and protein manufacturers. In an increasingly complex regulatory environment, the issues that must be included and tackled are animal welfare and health & sustainability. Newfangled meat and protein products also referred to as ‘artificial meat, utilize groundbreaking technologies that have been designed to meet these challenges met by the conventional meat industry. Artificial meat is in no way tough competition to the conventional industry, however, meat replacement made from plant protein and mycoproteins pose the biggest levels of competition and have occupied a small portion of the current market. Manufactured meats may nudge conventional meat towards the premium end of the spectrum if the price of conventional meat becomes more expensive. That being said, manufactured meat may then go on to make up for a majority of the lower end of the meat market. The popularity of manufactured meat may also go up if the palatability and versatility of the meat being manufactured are improved upon. The production of synthetic or artificial meat is a budding process of producing meat in a laboratory environment by implementing techniques for tissue engineering. This procedure includes the Vitro culturing of muscle tissue rather than the slaughter of animals as a source of meat meant for consumption. This option not only offers safer, healthier meat to its customers but also reduces the unfavorable impacts that traditional meat production has on the environment. Dynamics: In recent years, the global artificial meat market has come under increased scrutiny on the grounds of human health, ethical and environmental impacts. These concerns paired with projections that an increase in the demand for protein will continue to surge over the forecast period will suggest that an urgent need for newer, animal welfare-conscious, sustainable and nutritious techniques are found and implemented. The urge to gormandize meat and animal-source foods has led to the development of cellular agriculture. As such, in-vitro cultivation is being utilized to produce animal proteins by using lesser animal-derived material the meat industry currently does. This methodology aims to fulfill the end-users yearning to eat meat products while aiming to lessen the problem of food production and safeguarding global food security. The Food and Drug Administration (FDA), as of June 2018, is arranging to have cultured meat mentioned in US legislation. Regional Analysis: The cultured or artificial meat market is sectioned into application and product type. With respect to product type, the segment encompasses pork, duck, beef, and poultry. The poultry component is slated to index high growth. This is due to its cost-effectiveness, especially for low-income individuals & families. It acts as a source of low-fat protein, especially in emerging economies. Regarding application, the market for the synthetic meat segment includes sausages, meatballs, nuggets, burgers, and hot dogs. The nugget faction is slated to witness high-demand thanks to consumers preference. The increasing demand for cultured or synthetic meat and an optimistic approach to clean meat are some of the factors for the surging growth in the artificial meat market in developed countries like the UK, Germany, Spain, Canada, and the US. The North American artificial meat market is slated to experience high demand over the forecast period. This is due to its large carnivorous population, an increase in investments, and sufficient product development research. At present, the number of meat substitute providers is few and far between, however, there are new entrants and even more diversified customer preferences. This will help bolster industry rivalry and allow for growth in this market over the forecast period.
Below are the leading companies profiled in this Artificial Meat Market Report:
Chapter 1 Methodology and Scope