Cultured Meat Market to Signify Strong Growth by 2024-2031

Cultured meat market is anticipated to grow at a considerable CAGR of 17.9% during the forecast period. The major factor driving the demand for cultured meat includes the rising consumption of meat coupled with the increasing demand for nutritional meat. Further, the growing funding for companies producing cultured meat and government initiatives to promote sustainable and nutritional food are some of the factors anticipated to fuel the demand for market growth.  For instance, in June 2022, Israeli food tech SuperMeat received a grant from the Israeli Innovation Authority to establish an open-source screening system to aid the cultivated meat industry. SuperMeat claims its new high throughput screening system for optimizing cultivated meat feed ingredients, which will accelerate the burgeoning cultivated industry toward commercial viability. The fresh grant funds will support the open high-throughput screening system for cultivated meat feed ingredients, further significantly reducing the costs of expense in cultivated meat production.

Furthermore, with rising consumers’ interest in the environment and nutrition-rich food, food-tech companies have joined the race to invent meat alternatives. The growing startup and investment in companies related to cultured meat are anticipated to fill the demand for cultured meat in the market. For instance, in October 2021, Nutreco and Mosa Meat received $2 million under the European REACT-EU recovery assistance program to advance cellular agriculture and bring cultivated beef to the European Union market. The REACT-EU support was granted for R&D into lowering the costs of cell culture media, the most expensive step in the process of cultivating beef. The program will fund R&D to specifically address the ‘basal’ or base media in which the beef cells grow. By moving away from pharma-grade products and instead using feed- and food-grade byproducts from Nutreco’s supply chain, Mosa Meat predicts it can lower the costs of basal media substantially.

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Market Coverage

• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031

Segment Covered- 

• By Source
• By End-Use

Regions Covered-

• North America
• Europe
• Asia-Pacific
• Rest of the World
• Competitive Landscape-Mosa Meat B.V., Upside Foods, Inc., Just, Inc., Integriculture Inc., Aleph Farms Ltd., Finless Foods Inc.,and others.

Cultured Meat Market Report Segment

By Source

• Poultry 
• Beef 
• Seafood 
• Pork 
• Duck

By End-Use

• Household 
• Food Services

A full Report of Cultured Meat Market is Available at: https://www.omrglobal.com/industry-reports/cultured-meat-market 

Cultured Meat Market Report Segment by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Spain
• France
• Italy
• Rest of Europe

Asia-Pacific

• India
• China
• Japan
• South Korea
• Rest of APAC

Rest of the World

• Latin America 
• Middle East & Africa

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Article source: https://article-realm.com/article/Food-Beverage/63876-Cultured-Meat-Market-to-Signify-Strong-Growth-by-2024-2031.html