| B2270C: Consumer Behavior |
A Forbes 2021 article describes the cultured meat industry is growing due to
consumers who desire more meatless options. The global cultured meat market is expected to be worth $206.6 million by 2025, and companies are now making cultured meat products for pets so that the entire family can reduce their carbon footprint on the environment.
The coronavirus pandemic has also affected the meat industry in multiple ways, including problems with imports and exports. Consumers witnessed pet food shortages during the pandemic as stores struggled to keep up with demand. The growing trend of veganism and growing concern for environmental sustainability has also added to a rise in lab-grown meat.
A study conducted among American dog owners, on factors affecting the consumer behavior of buying dog food, might also support the demand in the industry.
Bond Pet Foods has been developing food made from animal-free ingredients for pets since 2017, and now uses biotechnology to make cultured meat protein that includes all the essential amino acids required for optimal health in dogs and cats.