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The cultured meat industry is set to grow, owing to increasing startups as a result of increasing investors. Factors that are expected to drive the global industry comprise of newer cellular agricultural technologies and processes, rising concern for animal welfare as well as environmental sustainability. Increasing meat consumption combined expanding interest for nutritious meat is expected to help develop the market during the forecast period. This rising trend of protein consumption is expected to open more doors for meat processing and food companies to invest resources into alternative meat proteins, for example, cultured meat to satisfy consumer demand.
With respect to source, the poultry segment is anticipated to represent the biggest market share. Credit for the same goes to rising demand of poultry items in quick service restaurants (QSRs). This in turn has persuaded players to come up with innovative alternate products to satisfy future needs of the meat consumers. Compared to other types of meat, cultured chicken products are expected to gain wide prevalence around the world due to lower prices. With respect to end-use, the nuggets segment is expected to represent the largest market share by 2022. As a significant processed meat product, its demand is increasing substantially. Urbanization leading to fast lifestyles is one of the main motivators to increase consumption of easy to make foods such as nuggets.
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The report has included a profiling of various prominent players in the market and different trends in the manufacturing landscape. It also identifies some of the new market entrants that are shaping the cultured meat market landscape.
Developed nations such as the UK, US, Canada, Germany and Spain are top consumers of nuggets and show a positive stance for the market during the forecast period. Similarly, cultured meat is also expected to be utilized in the production of burgers, hot dogs, sausages and meatballs. Hence, growth of this segment is anticipated due to developing interest and demand for clean meat and cultured meat in developed nations. Based on source, the cultured meat market is segmented into poultry, pork, hamburger, duck and others (pet food, foie gras, etc). After poultry, pork is set to account for the second largest share, in 2022. As of now, cells that have been cultured from poultry are favored because of consumer inclination towards it, along with cost effectiveness and a less complicated cell structure compared to other sources such as beef.
With respect to location, this report analyses key regions for this market, and focuses on sales, value, market share, and opportunities for growth. Some of which include North America, Europe, China, Japan, Southeast Asia and India. On request, customized separate regional and/or country level reports are also available for many regions. Some of which include Mexico, South Korea, Australia, Indonesia, Singapore, France, Russia, Brazil, Saudi Arabia, Turkey, etc. The objectives of the report are to analyse the market by application, type and region along with the key players and their market competition. The History Year used is 2013-2017, the Base Year is 2017, while the Estimated Year is 2018. Key stakeholders studied in the cultured meat market report are its manufacturers, distributers/traders/wholesalers, subcomponent manufacturers, industry associations and downstream vendors.
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