Cultured Meat Market Forecast, Growth, Demand, Trends, and Future Opportunity By 2032

Cultured Meat Industry Overview 2024-2032

Summary:

• What is the cultured meat market forecast for 2023?

The global cultured meat market size reached USD 209.1 Million in 2023. The cultured meat market is expected to reach USD 582.6 Million by 2032, exhibiting a growth rate (CAGR) of 11.8% during 2024-2032.

• Asia Pacific leads the market, accounting for the largest cultured meat market share.
• Poultry accounts for the majority of the market share in the source segment due to its widespread global consumption, lower production costs, and quicker cell cultivation processes compared to other meats.
• Based on the application, the market has been divided into nuggets, burgers, meatballs, sausages, and hot dogs.
• Food services remain a dominant segment in the market, due to its high demand for innovative and sustainable meat alternatives to meet consumer preferences in restaurants and fast food chains.
• The advancements in cell culture technology is a primary driver of the cultured meat market.
• Increased investments from venture capital firms, along with the growing regulatory support and approval for cultured meat production are reshaping the cultured meat market.

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Industry Trends and Drivers:

• Growing environmental concerns:

The global cultured meat market is being propelled by increasing environmental awareness, as traditional meat production is a major contributor to environmental degradation. Conventional livestock farming leads to significant greenhouse gas emissions, deforestation, water scarcity, and soil degradation. As consumers and governments recognize the environmental toll of traditional meat production, cultured meat offers a sustainable alternative. This lab-grown meat requires fewer resources, emits lower levels of carbon dioxide, and reduces the need for large areas of land, which would otherwise be used for animal grazing or feed crop cultivation. Additionally, cultured meat eliminates concerns about deforestation and biodiversity loss, making it an eco-friendlier choice for those seeking to reduce their carbon footprint.

• Rising demand for animal welfare-friendly products:

Another major factor fueling the global cultured meat market is the growing consumer preference for animal welfare-friendly food options. Public awareness regarding the ethical issues surrounding factory farming, such as animal cruelty and inhumane treatment, has increased in recent years. Industrial farming practices often involve overcrowded living conditions, unnatural diets, and the use of antibiotics to manage diseases, all of which raise concerns among ethically conscious consumers. Cultured meat provides an alternative that avoids the need to raise and slaughter animals, making it an attractive choice for individuals who prioritize animal welfare. The process of producing cultured meat involves harvesting cells from animals without causing harm, which is a significant selling point for the ethical consumer. As veganism and vegetarianism gain popularity due to ethical concerns, cultured meat appeals to a broader audience, including those who wish to reduce animal suffering while still enjoying meat-based diets.

• Increasing food security concerns:

The global cultured meat market is also being driven by concerns over food security, particularly as the global population continues to rise. Livestock farming requires large amounts of land, water, and feed, and the increasing scarcity of these resources, exacerbated by climate change, threatens food security in many regions. In contrast, cultured meat can be produced in controlled environments, using fewer natural resources, and without the reliance on favorable weather conditions, making it a more stable and reliable food source. This scalability and resource efficiency make cultured meat an important solution to address potential future food shortages. Governments and international organizations are becoming more interested in alternative protein sources, including cultured meat, to ensure long-term food security.

Cultured Meat Market Report Segmentation:

Breakup By Source:

• Poultry
• Beef
• Seafood
• Pork
• Duck

Poultry dominates the market due to its widespread global consumption, lower production costs, and consumer familiarity with chicken-based products.

Breakup By Application:

• Nuggets
• Burgers
• Meatballs
• Sausages
• Hot Dogs

Based on the application, the market has been divided into nuggets, burgers, meatballs, sausages, and hot dogs.

Breakup By End User:

• Household
• Food Services

Food services hold the maximum number of shares due to high demand from restaurants and catering services for innovative, sustainable protein options.

Breakup By Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Asia Pacific holds the leading position owing to a large market for cultured meat driven by  its large population, rising demand for sustainable food sources, and strong investments in food technology.

Top Cultured Meat Market Leaders:

The cultured meat market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:

• Aleph Farms
• BlueNalu Inc.
• Cubiq Foods S.L.
• Finless Foods Inc.
• Future Meat Technologies
• IntegriCulture Inc.
• Meatable, Mission Barns
• Mosa Meat
• New Age Meats
• Shiok Meats
• Upside Foods.

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