July 19, 2024
3D Printed Meat Market

The Emerging Popularity Of Plant-Based Products Are Anticipated To Open Up The New Avenue For 3D Printed Meat Market

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:

3D printed meat, also known as cultured meat or clean meat, is produced by growing animal cells in a culture medium and shaping it into food products like meatballs, burgers using 3D bioprinting techniques. It has the identical biochemical composition, texture and other attributes of conventionally produced meat but is produced without slaughtering animals. The key advantages are environmental sustainability, animal welfare, and flexibility to customize nutritional profiles.

Market Dynamics:

Growing consumer awareness about environmental and ethical issues associated with conventionally produced meat is a major driver for this market. People are increasingly adopting flexitarian or hybrid diets and open to alternative protein sources. Another key factor augmenting the demand is the flexibility of 3D printed meat to tailor nutrition without compromising on taste. For example, key nutrients like vitamins, minerals, proteins etc. can be enhanced as per a user’s requirements. Additionally, 3D bioprinting permits producing complex meat cuts and fibrous meat structures that are otherwise difficult to make through conventional meat production techniques.

Segment Analysis

The 3D printed meat market is dominated by the beef sub-segment currently holding around 40% share. Beef is the most dominating sub-segment owing to its widespread popularity and appeal across different regions of the world. The chicken sub-segment is expected to witness the fastest growth over the forecast period on account of growing demand for poultry meat and increasing preference for white meat over red meat.

PEST Analysis

Political: The development of alternative meat sources such as cultured meat and 3D printed meat are gaining traction globally due to growing environment sustainability concerns. Many governments are supporting innovations in this domain through funding and favorable regulations.

Economic: The rising global middle class coupled with increasing disposable incomes in emerging markets is fueling the demand for meat. However, conventional meat farming is resource-intensive resulting in higher meat prices. This provides opportunities for affordable alternative meat sources like 3D printed meat.

Social: Younger populations are more receptive toward adopting new technologies and alternative meat sources due to growing health and ethical concerns regarding mass meat production. Social media is driving increasing awareness about the benefits of cultured and 3D printed meat.

Technological: Advancements in bioprinting technologies, materials science and cellular agriculture are bringing lab-grown and 3D printed meat closer to commercialization. Reduction in production costs through technological improvements will be a key factor for mass adoption.

Key Takeaways

The Global 3D Printed Meat Market Size is expected to witness high growth, exhibiting CAGR of 16.3% over the forecast period, due to increasing urbanization, rise of health consciousness and sustainability concerns. The Asia Pacific region is projected to be the fastest growing regional market owing to rising affluence, rapid urbanization and growing meat demand in highly populous nations of China and India.

Regional analysis

The Asia Pacific region dominates currently accounting for around 35% of the global market share led by China. Rapid economic development, rising living standards and burgeoning middle class are fueling overall meat demand in the region. Additionally, government support for alternative protein innovations in countries like China, Singapore is boosting regional market growth.

Key players

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. Redefine Meat is a leading player specializing in beef alternatives using 3D bioprinting technologies. Novameat focuses on developing 3D printed chicken breast and sausages. Aleph Farms produces steak cuts using its 3D bio-printing platform.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it