Non-fungible Token Global Market Report 2022

Non-fungible Token Global Market Report 2022

  • January 2022 •
  • 175 pages •
  • Report ID: 6221941 •
  • Format: PDF
Major players in the cultured meat market are Memphis Meats, MosaMeat, SuperMeat, Integriculture Inc., Aleph Farms, Finless Foods, Mission Barns, Lab Farm Foods, Future Meat Technologies, Avant Meats Company, Biofood Systems, Meatable, Redefine Meat, Vow Foods, and Modern Meadow.

The global cultured meat market is expected to grow from $110.09 million in 2020 to $127.67 million in 2021 at a compound annual growth rate (CAGR) of 16%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $275.59 million in 2025 at a CAGR of 21.2%.

The cultured meat market consists of sales of lab-grown meat products by entities (organization, partnerships, and sole traders) that produce meat created in culture using different tissue of animals and bio-engineered techniques.Cultured meat is also known as clean meat or in vitro meat and acts as a healthier alternative to conventional animal meat.

The cultured meat is grown in a laboratory using animal stem cells or also called building block cells. These cells are soaked in liquid containing nutrients to help them duplicate and then transferred to the bioreactor, where the meat is grown.

The main types of cultured meat are poultry, beef, seafood, pork, duck.Poultry is a type that raises the birds for commercial purposes eggs, feathers, others.

The meat cells are procured from the poultry and grown in the lab for cultured meat.The cultured meat is used by household or food services for cooking nuggets, sausages, burgers, hot dogs, meatballs, others.

The cultured meat is distributed through hypermarkets, food and drink specialty stores, convenience stores, online retail, and others.

North America was the largest region in the cultured meat market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Meat made from 3D printed cells is gaining popularity among meat production companies to create precise digitally printed structures. 3D printed cultured meat has evolved in recent months to develop 3D printed hybrid cells and plant-based meats. In 2020, MeatTech, an Israel-based farmed meat company, successfully 3D printed a beef fat structure grown with bovine fat cells and edible bio-bonds. 3D printed cultured meat technology offers many benefits to meat consumers that include preserving texture, taste, and nutritional properties of animal meat products by reducing environmental impact.

In December 2020, Meat-Tech 3D, an Israel-based company engaged in developing methods for cultivated meat using 3D printing acquired Peach of Meat for $17.80 million. Through this acquisition, Meat-Tech will leverage Peace of Meat technologies including new hybrid food products to accelerate market entry as Meat-Tech develops industrial processes for farming and manufacturing. Peace of Meat developed a stem-cell bioreactor for cultivating fats from the chickens and ducks without harming the animals.

The increasing consumption of meat across the globe is contributing to the growth of the cultured meat market.Cultured meat is consumed as a healthy alternative to animal meat as it is less contaminated than animal meat.

Around the world, people are eating more meat than before due to the increasing need for protein consumption and an increase in disposable income.According to the Organisation for Economic Co-operation and Development - Food and Agriculture Organization (OECD-FAO) Agriculture outlook 2020-2029, the growth in global meat consumption is projected to increase by 12% between 2020 to 2029.

Moreover, according to The World Counts report, global meat consumption is expected to reach between 460 and 570 million tons by 2050. Thus, increasing consumption of meat and meat products drives the market for cultured meat.

The countries covered in the cultured meat market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.