Share on

Global Cultured Meat Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report - Segmented By Source (Poultry, Beef, Seafood, Pork, And Duck), End-Use (Nuggets, Burgers, Meatballs, Sausages, Hot Dogs), And Region (North America, Europe, APAC, Latin America, Middle East And Africa) – Industry Analysis From 2024 To 2029

Published: March, 2023
ID: 8779
Pages: 175
Formats: report pdf report excel report power bi report ppt

Global Cultured Meat Market Size (2024 to 2029)

As per our analysis report, the global cultured meat market is expected to reach USD 547.97 million by 2029 from USD 272.44 million in 2024, growing at a compound annual growth rate (CAGR) of 15% during the forecast timeline. The growth of this market is driven by new companies that enter the market as the number of investors increases.

The cultured meat is produced in animal cells with advanced technology without sacrificing animals. Fermentation is a type of meat produced from natural cells in vitro. Fermentation occurs by taking some cells from an animal and growing them in a nutrient-rich medium. These cells have the ability to proliferate to the extent that each cell can be used to manufacture large quantities of meat for the world population in one year. As food manufacturers increasingly move closer to meat replacement products, cultured meat is a major trend in the food and beverage industry. To manufacture this meat in large quantities, several stages must be considered. Aquaculture meat is the preferred solution to increase the demand for meat worldwide. This meat product also provides a favorable level of saturated fat and reduces environmental impact. The factors that are expected to lead the worldwide culture meat industry are a growing trend toward innovation in cell culture animal welfare and environmental sustainability.

Global Cultured Meat Market Drivers:

The global cultured meat market is determined by the consumers' greater preference for consuming alternatives to animal products. The growing concern about animal abuse for meat production has had a significant impact on the way consumers think about meat intake. As consumer awareness of environmental sustainability increases due to the rise in demand for meat, it will become a key factor in stimulating the growth of the global cultured meat market in the future. The trend of investment in various industries due to the development of technological culture is expected to be another driving force to promote the growth of this market in the near future. The first lab-grown hamburgers were expensive, but soon, the researchers developed cheap artificial meat, and they tasted good. It is likely that they will generate growth in this market in the coming years. Cultured meat is considered a solution to the problem of industrial farming. This form of meat can eradicate many environmental problems and improve animal welfare. This is a key factor driving the market during the 2019-2024 forecast period as consumer preferences turn to environmentally friendly products that promise animal welfare. Increased meat consumption and demand for nutritional meat are assumed to support market growth over the outlook period. Synthetic poultry is a major driver of market growth, and it has the most convenient in vitro production mechanism compared to other sources. This is credited to the simplified cell structure that is easier for replication in unnatural media. The original texture of cultured meat can be challenging for the market. This factor is important in determining consumer acceptance of aquaculture meat.

Political relations are also deemed to influence this level of acceptance. The social and environmental sentiment is touted to become a powerful factor in increasing consumer acceptance as synthetic meat products are introduced to the market. The growing trend in protein consumption is likely to offer multiple meat processors and food companies multiple opportunities to invest in alternative meat proteins, such as farmed meat, to meet consumer needs. However, meeting the daily protein needs and flavor of meat products is also an essential factor in the use of substitutes for animal meat. This creates a favorable opportunity for the cultured meat market. To manage the development of cultured meat production technology and increase production, manufacturers are strategically working with other industries. This is deemed to offer lucrative opportunities for the following years. Advanced regions such as Europe and North America are experiencing increased consumption of meat analogs, which is also one of the driving forces in the region's cultured meat market.

Global Cultured Meat Market Restraints:

The global cultured meat market is not yet produced on a large scale and is mainly available in specialty stores and restaurants. This will be one of the main challenges for manufacturers to focus in the growth of the global market in the near future. High investment costs are also termed as the most considerable challenge to limit the development of the cultured meat market size. There are many strict regulations on cultured production in all countries. Cultured meat is a very new concept and most people don't know it. Furthermore, consumers perceive that meat slaughtered is healthier than meat grown in the laboratory. This is also the main reason why consumers fear trying cultured meat instead of slaughter or traditional meat available on the market.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

CAGR

15%

Segments Covered

By Source, End User, And Region

Various Analyses Covered

Global, Regional and Country Level Analysis; Segment-Level Analysis; DROC; PESTLE Analysis; Porter’s Five Forces Analysis; Competitive Landscape; Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Appleton Meats (Canada), Higher Steaks (UK), Biofood Systems LTD (Israel), Fork & Goode (US), Finless Foods Inc. (US), Avant Meats Company Limited (China), Balletic Foods (US), Future Meat Technologies Ltd (Israel), Meatable (Netherlands), Mission Barns (US), Bluenalu, Inc. (US), New Age Meats (US), Aleph Farms Ltd (Israel)

 

This research report on the global cultured meat market has been segmented and sub-segmented based on source, end user, and region.

Global Cultured Meat Market - By Source:

  • Poultry    
  • Beef         
  • Seafood  
  • Pork          
  • Duck     

Global Cultured Meat Market - By End Use:

  • Nuggets  
  • Burger     
  • Meatballs
  • Sausages
  • Hot Dogs 

Global Cultured Meat Market – By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

North America is expected to lead the industry in 2021, taking into account the largest market share for cultured meat. Innovation and development are supposed to increase, and augmented spending on efficient R&D will be the most critical factor. Health concerns about consuming meat products increased investor interest in alternative proteins, and the potential to provide the nutrients necessary for custom proteins are key factors in moving consumers from traditional meat to cultured meat products. In the United States and Canada, metropolitan areas are expected to drive growth due to a large amount of flexibility, along with the openness and acceptance of meat substitutes and other alternative proteins. As the demand for alternative proteins in the region increases, it supports increased investment in aquaculture meat companies. Europe is foreseen to grow significantly at a compound annual rate of 4.6% during the prediction period. This is related to greater investment in the market. With increased animal welfare, antibiotic resistance, and environmental awareness, many new companies are entering the industry. Demand will increase as regulatory support in the region increases.

KEY MARKET PLAYERS:

Major Key Players in the global cultured meat market are Appleton Meats (Canada), Higher Steaks (UK), Biofood Systems LTD (Israel), Fork & Goode (US), Finless Foods Inc. (US), Avant Meats Company Limited (China), Balletic Foods (US), Future Meat Technologies Ltd (Israel), Meatable (Netherlands), Mission Barns (US), Bluenalu, Inc. (US), New Age Meats (US), Aleph Farms Ltd (Israel)

RECENT HAPPENINGS IN THE MARKET:

  • Cargill's food ingredients have invested in Aleph Farms of VisVires New Protein and have agreed with other investors to prototype and grow meat directly from meat cells using a 3D tissue engineering platform.
  • In 2018, Japanese meat producer Toriyama Chikusan Shokuhin and San Francisco-based Just teamed up with aquaculture meat. The goal is to develop laboratory-grown wagyu products that are Japanese beef cattle.
  • In September 2019, the Food Technology Research Institute, Ochakov Food Ingredients Plant, announced the production of cell-based meatloaf. This is the first farmed meat product made by a Russian company and is expected to hit the market in 2023.
  • In 2019, five aquaculture and cell culture companies such as BlueNalu, Finless Foods, Fork & Goode, JUST, and Memphis Meats, announced their alliance under the name Meat, Poultry, and Seafood Innovation (AMPS Innovation).

Please wait. . . . Your request is being processed

FAQ's

1. What factors are influencing the growth of the cultured meat market?

The factors influencing the growth of the cultured meat market are Consumer demand for sustainable and ethical food choices, Technological advancements in cell culture and bioprocessing, and increasing concerns about animal welfare and food safety.

2. What are the current trends in the cultured meat market?

The Current trends in the cultured meat market are increasing consumer acceptance, Investment and research, Regulatory advancements, and collaboration and partnerships.

3. What are the challenges facing in the cultured meat market?

The challenges facing the cultured meat market are Cost of production, Consumer acceptance and perception, Regulatory hurdles, Scaling up production, and Competition from plant-based alternatives.

 

Related Reports

Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500

Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM

Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!

REACH OUT TO US

Call us on: +1 888 702 9696 (U.S Toll Free)

Write to us: [email protected]

Click for Request Sample