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The phrase "meanwhile increasing" is grammatically correct and can be used in written English.
It is commonly used to show a simultaneous or ongoing increase in something while something else is happening. Example: The company's profits have been steadily declining, meanwhile increasing competition from other companies has put pressure on the business to come up with new strategies.
Exact(40)
Meanwhile, increasing competition restrains prices even as it swells marketing costs.
An ageing population is meanwhile increasing demand, while funding has not kept up.
Meanwhile, increasing health care costs, longer life expectancies and some lingering unrealistic expectations about investment returns make it difficult for some investors to get these complex retirement decisions right.
Meanwhile, increasing numbers of former Haitian soldiers are coming forward, and many of them hope the Haitian government and the United Nations will offer back pay in exchange for their weapons.
Meanwhile, increasing violent demonstrations are being staged in protest against the government's failure to provide basic services such as water, electricity and housing.President Jacob Zuma always knew he could not expect much of a honeymoon, despite the landslide victory of his ruling African National Congress (ANC) in April's general election.
In the developed world, meanwhile, increasing numbers of civil servants take time off to work for NGOs, and vice versa: Oxfam has former staff members not only in the British government, but also in the Finance Ministry of Uganda.This symbiotic relationship with government (earning some groups the tag GRINGO) may make the governments of developing countries work better.
Similar(20)
The number of foreclosures, meanwhile, increased by 134% last year.
The Refinance Index, meanwhile, increased 20 percent from the previous week.
State and local taxes, meanwhile, increased for most Americans.
Meanwhile, increased contestability between service providers drives and support innovation like never before.
The average rents in social housing meanwhile increased by 6.1% from £88.90 to £94.30 a week.
More suggestions(15)
likewise increasing
separately increasing
furthermore increasing
moreover increasing
concomitantly increasing
nonetheless increasing
additionally increasing
now increasing
instead increasing
meanwhile gaining
meanwhile rising
nevertheless increasing
conversely increasing
concurrently increasing
simultaneously increasing
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com