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According to the latest report by IMARC Group, titled “ Cultured Meat Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2 027
” the global cultured meat market reached a strong growth in 2021.
Cultured meat is derived by cultivating animal cells in laboratories through defined scientific procedures. It can be of several types, including beef, seafood, pork, duck, poultry, etc. These cultured meat products are not artificial in nature. They are produced from the stem cells that are immersed in a liquid containing nutrients to help them duplicate and then kept in a bioreactor, a device designed for growing organisms. The cultured meat variants eliminate the need for farming and slaughtering animals for food, prevent E. coli bacteria and other contaminants from entering the human body, and reduce the release of methane, carbon dioxide, and nitrous oxide as compared to traditional meat production. Consequently, they are in extensive demand among consumers across countries.
The rising number of individuals allergic to animal-based proteins and the escalating concerns about animal safety and welfare are primarily driving the cultured meat market. Besides this, the elevating awareness towards the benefits of lab-cultivated meat products, such as low environmental impact, decreased public health risks, eliminated need to raise animals, etc., is acting as another significant growth-inducing factor. Furthermore, the inflating investments by key market players in research and development (R&D) activities and the introduction of 3D printed cultured meat are also positively influencing the market growth. Additionally, the increasing demand for quick-service restaurants (QSRs) and the expanding improvements in online food delivery services are expected to propel the cultured meat market over the forecasted period.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2022-2027).
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