The cultured meat market is projected to reach USD200m in 2023 and USD1.1bn by 2034, at a CAGR of 16.5% from 2028 to 2034, according to a report published by MarketsandMarkets.
The market for cultured meat is anticipated to expand at a 16.1% CAGR over the next five years. With sustainability serving as a key topic for growth in many major economies, companies, and people’s daily lives worldwide, cultured meat is emerging as the next big paradigm for accomplishing these lofty objectives. The urgent environmental and sustainability issues raised by conventional cattle raising are becoming more widely known.
Because cultured meat drastically minimizes environmental impact, including greenhouse gas emissions, land use, and water use, it offers an attractive alternative. Significant investment for research and development in the cultured meat industry is also being provided by larger food corporations, impact investors, and venture capitalists due to their growing interest in the space. The flood of funding is hastening the commercialization of beef products that have been cultivated.
In addition, government subsidies, financing for research, and expedited regulatory processes are essential to the establishment and expansion of the cultured meat industry. It is expediting market acceptance, guaranteeing safety and quality standards, and promoting innovation.
Furthermore, scalability and product quality are being enhanced by advancements in tissue engineering, bioreactors, and cell culture. These developments are necessary to establish cultured meat as a competitive and realistic substitute for conventional meat production.
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