by The global 3D printed meat market is estimated to be valued at US$ 179.1 Mn in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024-2030, as highlighted in a new report published by Coherent Market Insights.
3D printed meat is produced by using 3D printers and various animal cells and biomaterials. Cultured meat offers a sustainable solution to address animal welfare and environmental issues arising from conventional meat production. Meat produced through 3D bioprinting does not require slaughtering animals and also helps reduce methane emissions and land and water usage. 3D printing technology is being used to create artificial meat structures layer-by-layer to form meat tissues. Such artificially grown meat retains the taste, texture and nutrition of conventionally farmed meat but in a more ethical and sustainable manner. The need for sustainable meat alternatives is growing due to rising affluence and meat consumption globally. 3D printed meat has the potential to positively impact animal welfare, environment and provide an efficient solution to growing global demand for meat.
Market key trends:
One of the key trends in the 3D printed meat market is the advancements in 3D bioprinting technology. Companies are focusing on developing advanced 3D bioprinters with capabilities to deposit multiple cell types simultaneously and print larger structures with high precision and resolution. Some other trends fueling market growth include increasing investments in cellular agriculture research and development by food companies and venture capital funds. Rising popularity of plant-based and cellular meat alternatives among health-conscious consumers is another factor propelling the 3D printed meat market. However, high production costs remain a key challenge for widespread commercialization of 3D printed meat currently.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as high capital is required for initial set up and research and development. However, technology barriers are low which can attract new players.
Bargaining power of buyers: The bargaining power of buyers is high due to presence of many players offering substitutes in the market.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as suppliers have limited number of options to sell their products.
Threat of new substitutes: The threat of new substitutes is high as alternative meat products are gaining traction.
Competitive rivalry: The competitive rivalry is high due to presence of many established players in the market.
Key Takeaways
The Global 3D Printed Meat Market Size is expected to witness high growth.
Regional analysis: North America dominated the 3D printed meat market in 2020 due to presence of major players and increasing adoption of alternative protein sources. However, Asia Pacific is anticipated to register highest CAGR during the forecast period.
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. Mohawk Industries, Interface Middle East, Beaulieu Flooring, Tarkett S.A., Balta Group, and Shaw Industries Group, Inc. are some of the international players in the market.
