MARKET REPORT 58 F&A Alternative Proteins Edition October 2023 Zion Market Research has published a new research report titled “Cultured Meat Market - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030”. According to the report, the global cultured meat market size was worth around USD 221.47 million in 2022 and is predicted to grow to around USD 592.69 million by 2030 with a compound annual growth rate (CAGR) of roughly 13.11% between 2023 and 2030. Projections and estimates about the market are explained in the report as follows; GROWTH DRIVERS The global cultured meat market is projected to grow owing to the increasing concerns about the unethical treatment of animals that are slaughtered to cater to the needs of the meat industry. Animal cruelty in farms is a pressing matter that has garnered the attention of several animal welfare agencies as well as the general population. Official documentation reports that animals are treated harshly on farms. They are kept in extremely compact places to reduce the overall operational cost of an animal farm. For instance, layer hens are mostly placed in battery cages and only limited space is given to the hens for movement. Additionally, most of the animals undergo frequent genetic manipulation and mutilation to ensure a large supply of animals as the demand in the food industry is growing at a rapid rate. Reports indicate that such treatment not only impacts the physical well-being of an animal but has a long-term impact on its emotional health. Several international and regional animal welfare agencies have initiated awareness programs to create a higher understanding of the conditions in which animals are placed. All of these factors are likely to push the demand for cultured meat since the production of lab-grown meat does not cause any harm to the animals. Only a small amount of stem cells are extracted through which an entire section of animal meat can be grown. RESTRAINTS The cultured meat industry size may be limited since the market is relatively new and only a handful of companies are providing products and services in this industry. There are doubts over the overall Global cultured meat market size to reach $592 million in 2030 According to a market research study published by Zion Market Research, the demand analysis of global cultured meat market size & share revenue was valued at around USD 221.47 million in 2022 and is estimated to grow about USD 592.69 million by 2030, at a CAGR of approximately 13.11% between 2023 and 2030.
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