MARKET INTRODUCTION
Lab-based meat, also known as cultured meat or in-vitro meat, is a form of artificial meat made using tissue engineering. It is regarded as a form of cellular agriculture. For decades, animal meat has been consumed to satisfy the body’s nutritional needs, as it is an excellent source of omega-3 fatty acids, vitamin B12, protein, and iron. Lab-based meat is created in the lab/in-vitro by culturing muscle cells from animals and allowing them to expand and proliferate in culture media.
MARKET DYNAMICS
This market is still in its development stage and products are not available commercially yet. However, this scenario is projected to change in the near future with relaxing regulations around lab-based meat. The lab-based meat market is expected to witness significant growth during the upcoming years due to the rising consumer preference for consuming the substitute for animal-based products. Increasing environmental concerns are one of the key drivers for the development of lab-based meat. The environmental impacts of lab-based meat are significantly lower than from traditional animal husbandry. Along with that, the growing concerns over animal cruelty for meat production have created a valuable impact on consumer mindset on consuming meat products. Developed regions such as Europe and North America are registering a higher consumption of meat analog products, resulting in the high market growth for lab-based meat in the regions. The ever-growing population and demand for food along with it will be another key driving factor for the growth of the market. Implementation of stringent regulations for naturally adapted food products are expected to have a negative influence on the development of lab-based meat. For an instance, In the European Union, novel foods such as lab-based meat products have to go through a testing period of about 18 months during which a company must prove to the European Food Safety Authority (EFSA) that their product is safe. Additionally, high product prices, consumer acceptance, and a lack of knowledge regarding in-vitro meat cultivation are also hampering the market growth. However, with the steady growth in the food processing industry and the tissue engineering sector, there will be opportunities for the market players to invest in this market.
MARKET SCOPE
The “Global Lab-based meat Market Analysis to 2030” is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the lab-based meat market with detailed market segmentation by source, end-use, and geography. The global lab-based meat market is expected to witness tremendous growth during the forecast period. The report provides key statistics on the market status of the leading lab-based meat market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global lab-based meat market is segmented on the basis of source and end-use. Based on the source, the global lab-based meat market is segmented into poultry, beef, pork, and others. On the basis of end-use, the market is segmented into burgers, nuggets, meatballs, sausages, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global lab-based meat market based on various segments. It also provides market size and forecast estimates from the year 2023 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South & Central America. The lab-based meat market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the lab-based meat market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends.
MARKET PLAYERS
The reports cover key developments in the lab-based meat market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnerships & collaborations. These activities have paved the way for the expansion of the business and customer base of market players. The market payers from lab-based meat market are anticipated to have lucrative growth opportunities in the future with the rising demand for lab-based meat in the global market. Below mentioned is the list of a few companies engaged in the lab-based meat market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the lab-based meat market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information, and key development.
-Memphis Meats
-Biotech Foods
-Eat Just, Inc
-Aleph Farms Ltd
-Avant Meats Company Limited
-Future Meat Technologies Ltd
-Lab Farm Foods
-Finless Foods Inc.
-Meatable
-SuperMea