Global 3D Printing Plant-Based Meat Market Highlights 2022 – 2030
The global 3D printing plant-based meat market is estimated to garner a hefty amount of revenue and grow at a robust CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed primarily to the growing trend of veganism among consumers, especially in developed and developing regions. Along with this, plant-based are less damaging for the environment as it reduces greenhouse emissions by up to 90 percent as compared to conventional meat, and causes much less nutrient and water pollution. This in turn is also expected to augment the market growth significantly in the forthcoming years.
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Furthermore, rising developments in the 3D printing technology, increasing demand for customized food, and surge in the disposable income globally are projected to offer lucrative opportunities to the market in the near future. According to the World Bank, the adjusted national per capita of the world was USD 9,446.752 (current USD) in 2019, up from USD 9,340.408 and USD 8,989.491 in 2018 and 2017 respectively.
The market is segmented by meat type into red meat, poultry, pork, and seafood, out of which, the red meat segment is anticipated to hold the largest share in the global 3D printing plant-based meat market. This can be accounted to the increasing production of red meat products, mainly steaks, by 3D printing techniques as the texture of these meats is comparatively easier to be produced by printers. Apart from this, red meat is widely consumed in Europe and the Americas, holding the majority of non-vegetarian population around the world, which is also predicted to boost the growth of the market segment in the years to come. Additionally, on the basis of end user, the commercial segment is assessed to acquire the largest share during the forecast period owing to the rising emphasis of restaurants serving vegan products to expand their consumer base to meat eaters as well.
Major Macro-Economic Indicators Impacting the Market Growth
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Global 3D Printing Plant-Based Meat Market Regional Synopsis
On the basis of geographical analysis, the global 3D printing plant-based meat market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in North America is estimated to grab the largest share and witness noteworthy growth over the forecast period on the back of the growing population of people following veganism, and rise in research and development activities associated with food-based 3D printing techniques in the region. In the United States, about 6 percent of the consumers stated that they are vegan in 2021, up from just 1 percent people in the year 2014. Also, the retail sales of plant-based foods in the country grew by more than 10 percent from 2018 to 2019. In addition, high healthcare expenditure in the United States, coupled with increasing focus to apply 3D printing food technology in the medical sector are expected to offer ample growth opportunities to the market in the future. Moreover, the market in Europe is predicted to acquire a significant share during the forecast period ascribing to the high consumption of plant-based meat, and presence of major market players in the region.
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The global 3D printing plant-based meat market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global 3D printing plant-based meat market includes the following segments:
By Meat Type
- Red Meat
- Poultry
- Pork
- Seafood
By End User
- Government
- Residential
- Commercial
Growth Drivers
- Growing Trend of Veganism in Developed and Developing Regions
- Rising Developments in the 3D Printing Technology
Challenges
- High Cost of 3D Printed Plant Based Meat
Top Featured Companies Dominating the Market
- Redefine Meat Ltd.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- NOVAMEAT TECH S.L.
- Eat Just, Inc.
- Revo Foods GmbH
- MeaTech 3D Ltd.
- Aleph Farms
- SavorEat Ltd.
