Market Environment Important Perspectives
.Market Environment Important Perspectives
Market Environment Important Perspectives | According to a new market analysis by Ken Research on the Global Cultured Meat Market, Country-Niche Players dominate the market, holding about 70% of the revenue share despite the presence of around 100 competitors made up of Global Players, Regional Players, and Country-Niche Players.
Animal flesh that is generated by growing animal cells in a lab is referred to as cultured meat. Cultured meat is grown using a variety of approaches, such as scaffold-based procedures, cell culture medium, and others.
From its most recent research report, Ken Research offers three crucial insights into this dynamic market’s competitive environment.
The Global Cultured Meat Market is highly competitive. About 100 players, according to a thorough competitive analysis carried out during the Research Study. These players include regional players, globally diversified players, as well as a significant number of country-specific players.
In terms of firms, the regional players make about 8% and control around 25% of the market. The industry’s major companies are concentrated on manufacturing slaughter-free meat. Lowering the cost of cultured meat products to capture a sizable market share or doing considerable research and development.
Major firms including Upside Foods, Aleph Farms, and Eat Just, Inc. are heavily focused on acquiring funding. Securing clearance for their cultured meat products to be introduced in the market. According to a detailed comparative analysis of key rivals provided inside the research study.
The research and development of cultured meat products is also being accelerated by large corporations like Cargill, Tyson Foods.
Tyson Foods announced its investment in Memphis Meats or Upside Foods, a food technology business specialising in cultured meat, in January 2022. In order to meet the rising demand for protein-rich goods among consumers, Tyson hopes that the investment will increase its exposure to innovations and creative ways to manufacture meat. With the financing, Upside Foods hoped to hasten the development of its products.
Future Meat, a startup Israeli business that produces cultured meat, secured US$ 347 million in funding in December 2021. ADM, an unnamed tech investor, and Manta Ray Ventures co-led the funding round. The business concentrated on getting US certification for its cell-based chicken while also aiming to develop a sizable manufacturing plant there.
Increased Government and Manufacturer Initiatives Support the Development of the Cultured Meat Market
“High-efficiency biological manufacturing technology of fake meat” is a three-year government-funded effort that was launched by the Chinese government in June 2021. The Chinese government has funded several initiatives to hasten the development of cultured meat because it believes that raising chicken is in the country’s best interests.
With the aid of cutting-edge science and technology, Eat Just, Inc., a producer of healthier and more environmentally friendly food items, received its first regulatory certification for its cultured chicken from Singapore in December 2020. The firm wants to grow its product range and offer consumers tastier, healthier, and safer cultured chicken products.