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global Cultured Meat Market it is anticipated to reach at market value of US$ 18.5 Mn by 2027
Bizizz Market Research has recently published a research report, “Cultured Meat Market By Source Type (Duck, Poultry, Beef, Pork and Seafood), Application (Hot Dogs, Nuggets, Sausages, Meatballs, Burgers and Others), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 - 2027”.
As per the report, Global Cultured Meat Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 18.5 Mn by 2027, witnessing a CAGR of 4.3 % during the forecast period. Key drivers of the market are cost-effectiveness and increased concern of nature.
The market of cultured meat is in in the introduction phase and could account for a moderate growth during the forecast period. The market is exhibiting increased food safety concerns and natural resources are stimulating the growth of cultured meat market.
The Cultured Meats market is anticipated to register a CAGR of over 4.3% during the forecast period.
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By source, Poultry segment held a key share in Global Cultured Meats Market in 2018.
The demand for poultry meat is exhibiting its huge demand in the market by the increased adoption of the poultry meat by the customers. Such demand of the products is anticipated to improve the market demand of improved meat products for consumption had led to research and development activities.
By Application, Nuggets Segment of Global Cultured Meats Market Is Anticipated To Witness the Fastest CAGR during the Forecast Period.
The demand for the Nuggets is registered to be high especially in the developed countries that are propelling the growth of these offerings. Such demand of the customers in these regions are contributing to the development of cultured meat for filling the gap of demand and supply in the market.
North America is anticipated to dominate the Global Cultured Meats Market during the Forecast Period
The market of cultured meat is led by the North American region by the huge customer demand existing in this region. This growth could be attributed to the increased innovative developments in this market that is fueling its market demand.
Global Cultured Meats market is under introduction phase hence there are few players who are offering cultured meat products to the customers globally. Hence the companies are focusing on the cost reduction in order to tap the global market.
Prominent players operating in the Global Cultured Meats Market are: Balletic Foods, hiok Meats, Memphis Meats, Kiran Meats, SuperMeat, Cubiq Foods, Lab farm Foods, Integriculture, Wild Type, Aleph Farms Ltd, Cell Farm FOOD Tech, Seafuture Sustainable Biotech, Finless Foods Inc., S, Just, Inc., Avant Meats Company Limited, New Age Meats, Bluenalu, Inc., Future Meat Technologies Ltd, Mission Barns, Appleton Meats, Meatable, Higher Steaks, Fork & Goode, and Biofood Systems LTD., among others.
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