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The global lab grown meat market size is a very nascent stage and is preliminarily driven by its eco-friendly aspect. The full-scale commercial viability of cultured meat is expected to reduce the considerable environmental costs of meat production. The resource-intensive character of conventional meat production will also be addressed as the clean meat will only require sustenance of cultured cells rather than an entire organism. The sensory aspects of lab-grown meat are however acting as a temporary restraint for the market which manufacturers are trying to address. The cost competitiveness of lab-grown meat that is expected to achieve in the foreseeable future will act as lab grown meat market growth opportunity.
The vegan trend reverberating in the global marketplace is here to stay. The environmental concerns surrounding animal-based food products have nudge consumers to seek sustainable options – the food processors are also embarking on innovative options, and lab-grown meat is one of them. It is also known as cultured meat or clean meat. Several start-ups have entered the lab grown meat market and have also received support from prominent organizations. For instance, Cargill has funded Mosa Meat, a Dutch food technology company, creating production methods for cultured meat.
The undefined regulatory framework governing such novel foods is also expected to act as a significant barrier for the lab grown meat market growth. The label claims on whether such foods can be termed as a “meat” are beginning to be considered at regulatory levels. Moreover, the consumer-based surveys conducted at different parts of the world have also revealed the lack of confidence in the lab-grown meat, the communication and awareness for which is expected to address such concerns.
The initial demand for such cultured meats have been emerging form variety of foodservice channels – companies are developing beef, chicken, duck and pork cells to be utilized in ready-to-eat food products such as burgers and nuggets.
Some key companies that are present in the global lab grown meat market are Aleph Farms, Mosa Meat, Just Inc., Meatable, Memphis Meats, SuperMeat, and Finless Foods.
Lab-grown beef is expected to lead the lab grown meat market given the demand scenario from foodservice platforms. Moreover, the initial R&D efforts were channelized at producing beef, the commercialization for which will be in effect as compared to other meat. The sustainable growth of the market lies in the sophisticated, hassle-free and rapid transition of such novel products from the lab to a scalable commercial facility.
North America is projected to emerge as a dominant regional lab grown meat market share for lab grown meat owing to the safety concerns for meat. Consumers have become increasingly conscious of the negative health impacts of red meat products. The quest for suitable alternatives has prompted major meat and food companies to invest in the development of lab-grown meat. The countries such as the U.S. and China where chicken and duck products are popular will be some of the potential markets for lab-grown meat.
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