3D printed meat, also known as cultivated meat or clean meat, is produced by in vitro cultivation of animal cells, instead of slaughtering animals. It helps address some of the major issues associated with conventional meat production like environmental pollution, greenhouse gas emissions, land and water usage, and animal welfare. 3D printed meat is produced through tissue engineering techniques under controlled conditions by providing cell culture media, inoculation matrices and bioreactors. The cultivated meat closely resembles conventionally produced meat in terms of appearance, texture and taste. The global 3D printed meat Market is estimated to be valued at US$ 179.01 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The opportunity to address issues related to environmental sustainability and animal welfare plays a major role in boosting the 3D printed meat market growth. Conventional meat production puts heavy pressure on natural resources and has negative environmental consequences such as greenhouse gas emissions, groundwater pollution from livestock waste, and deforestation. Additionally, conventional livestock farming raises ethical concerns related to conditions in which animals are raised and slaughtered for meat production. 3D printed meat provides an animal-free and eco-friendly alternative to conventional meat, by producing meat through tissue engineering without requiring animal slaughter. It substantially reduces environmental footprint as well as addresses concerns for animal welfare. This is expected to drive more consumers and food service providers to adopt 3D printed meat over the forecast period.
Porter's Analysis
Threat of new entrants: The threat of new entrants in the 3D printed meat market is moderate as extensive R&D is required for developing the meat production process. However, entry barriers may reduce over time with technological advancement.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of substitutes like conventionally produced meat. Buyers can switch to alternative proteins easily based on price and quality parameters.
Bargaining power of suppliers: A few bio-technology firms currently engage in manufacturing inputs for 3D printed meat production. Therefore, suppliers have moderate bargaining power over buyers in terms of setting prices.
Threat of new substitutes: Alternative meat products developed using plant-based ingredients pose a strong threat of substitution. Buyers may switch to meat substitutes depending on taste, nutrition, and cost factors.
Competitive rivalry: Intense competition exists among established players to capture more market share through expansions, acquisitions, and product innovations.
SWOT Analysis
Strengths: Ability to produce meat without harming animals; Provides options to people with dietary restrictions; Potential environmental benefits over conventional meat.
Weaknesses: Higher production costs than traditional meat; Limited availability and product selection; Need more research on health and nutrition impact.
Opportunities: Growing demand for alternative proteins due to sustainability trends; Increased research collaborations and partnerships in the industry.
Threats: Stiff competition from conventional meat and plant-based substitutes; Stringent regulations for product approval and commercialization.
Key Takeaways
The global 3D Printed Meat Market Growth is expected to witness high growth over the forecast period due to increasing demand for alternative proteins. North America dominates the market currently due to presence of prominent players and rising research initiatives in the region.
Regional analysis
The Asia Pacific region is anticipated to be the fastest growing market for 3D printed meat during the forecast period. Factors such as rising health consciousness and growing meat consumption in developing countries are propelling demand. China holds significant growth potential with increasing government support for new food technologies. However, high costs and regulatory hurdles could limit adoption to some extent.
Key players: Key players operating in the 3D printed meat market are Al Sorayai Group, Abdullatif Carpets, Al Mira Carpet Factory, Abu Dhabi National Carpet Factory, Mac Carpet, Prado Egypt For Carpet, Gheytaran Carpet, Oriental Weavers, Standard Carpets Ind.LLC, and Saida Carpets. International players include Mohawk Industries, Interface Middle East, Beaulieu Flooring, Tarkett S.A., Balta Group, and Shaw Industries Group, Inc.
For more insights, read- https://www.newsanalyticspro.com/3d-printed-meat-market-trends-size-and-share-analysis/
