The 3D printed meat market is estimated to be valued at US$ 179.1 Mn in 2023 and is expected to exhibit a CAGR of 16.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The 3D printed meat market consists of products derived from meat tissue that have been cultivated in a laboratory using 3D bioprinting technology. These cell-based meat products have similar taste and texture as conventional meat but are produced more efficiently and in a sustainable manner. They provide an alternative for health conscious consumers as well as help address issues like environmental impact, animal welfare and food security.
Market Dynamics:
One of the key drivers propelling the growth of 3D printed meat market is the increasing demand for alternative proteins globally. Consumers are increasingly looking for plant-based and lab-grown meat options due to concerns over animal welfare, sustainability and health. Furthermore, 3D printed meat offers advantages like customizability and consistency in terms of taste and nutrition compared to conventional meat. It also uses less land and water resources during production. However, high initial investments required for research and production is a major challenge hampering the widespread commercialization of 3D printed meat currently.
SWOT Analysis
Strength:
- 3D printing technology enables the production of personalized and customized meat products. It allows for precise control over texture and taste.
- Cultured meat production reduces environmental impact and carbon footprint compared to industrial meat production.
- Rising investments and funding in research and development of plant-based and lab-grown meat alternatives.
Weakness:
- High production costs make 3D printed meat more expensive than conventionally produced meat.
- Limited consumer acceptance and unfamiliarity with the concept of cultured meat products.
Opportunity:
- Growing global population and rising meat consumption in developing economies increase the demand for sustainable meat alternatives.
- Increasing health consciousness and shift towards plant-based and meat-free diets among consumers in developed nations.
Threats:
- Strong lobbying from the conventional meat industry against cultured meat products.
- Stringent regulations regarding the safety, nutritional profile, and labeling of cultured meat products.
Key Takeaways
The Global 3D Printed Meat Market Size is expected to witness high growth, exhibiting CAGR of 16% over the forecast period, due to increasing demand for sustainable and ethically produced meat alternatives.
Regional analysis: North America is currently the dominant region for the 3D printed meat market, holding over 30% of the global market share in 2023. Asia Pacific region is projected to be the fastest growing market exhibiting a CAGR of over 18% during the forecast period driven by increasing meat consumption and growing middle-class population in countries like China and India.
Key players operating in the 3D printed meat market are Redefine Meat, Novameat, Aleph Farms, Modern Meadow, MeaTech 3D, Atlast Food Co., 3D Bioprinting Solutions. These players are focusing on ramping up production through strategic collaborations and technological advancements to cater to the rising demand for cultured meat products globally.
Read more
https://www.rapidwebwire.com/3d-printed-meat-market-size-share-growth-outlook-2023/
