Global Cultured Meat Market is expected to reach nearly US$ 2,000 million by 2030: Ken Research

According to Ken Research Analysis, the global cultured meat market is expected to record a positive CAGR of ~25% during the forecast period (2022-2030) and is expected to reach nearly US$ 2,000 million by 2030, owing to the increasing number of investments for research and development of cultured meat along with rising inclination towards environmental sustainability and animal welfare.

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Key Growth Drivers

Growing consumers' preference for nutritional diets along with increasing innovation in cellular techniques to produce cultured meat are anticipated to propel the growth of the Global Cultured Meat Market during the forecast period.

The rising number of investments by big giants like Cargill, Tyson, and others in cultured meat and the increased focus of manufacturers on producing slaughter-free meat to fulfill consumers' demand for animal protein is likely to propel the growth of the Global Cultured Meat Market.

The global Cultured Meat Market faces challenges due to the high production cost and consumer skepticism towards lab-based meat products.

The production cost for cultured meat is comparatively higher than that of conventional meat as cultured meat requires a growth medium to stimulate cell growth, which adds to the cost of the production and may hinder the growth of the market. However, intensive research and development are going on to reduce the cost of production. In addition, cultured meat is a new concept in the market, and skepticism of consumers toward lab-based meat products is also expected to restrict the growth of the market.

The COVID-19 pandemic positively impacted the Cultured Meat Market owing to the increased demand for nutritional products including meat products. Moreover, consumers are shifting towards nutritional diets or protein-rich diets to lead a healthier lifestyle, which is expected to increase the demand for animal products including cultured meat. Lab-based meat gained more attraction among consumers during the pandemic to scale up the healthy diet, which has benefitted the growth of the Global Cultured Meat Market.

Key Trends by Market Segment

By Source: The poultry segment held the largest share of the Global Cultured Meat Market by type in 2021, owing to the growing demand for poultry products in quick-service restaurants and the food service industry.

The easy availability of cultured poultry products at affordable prices along with the rising popularity of poultry products among consumers has encouraged manufacturers to develop innovative cultured poultry products to meet consumers' demand, which is expected to fuel the demand for the segment in the Global Cultured Meat Market.

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By End Products: The nuggets segment accounted for the largest share of the Global Cultured Meat Market in 2021, attributed to rising demand for on-the-go food products like nuggets and increasing consumption of snacking food products.

The increasing consumption of meat products in the form of nuggets, especially chicken nuggets in various countries, is anticipated to aid the growth of the segment in the Global Cultured Meat Market.

By Production Technique: Scaffold-Based Technique segment accounted for the largest share of the Global Cultured Meat Market in 2021, due to the wide usage of the technique to produce cultured meat among various manufacturers.

The rising adoption of the technique among cultured meat manufacturers due to simple usage and efficient scale-up is anticipated to boost the demand for the segment in the market.

By End-User: The food service industry segment accounted for the largest share of the Global Cultured Meat Market in 2021, due to the increasing trend for dining out globally.

Rapid urbanization and an upsurge in disposable income along with an increasing number of hotels, restaurants, cafes, and others offering cultured meat products, is likely to boost the demand for the segment in the Global Cultured Meat Market.

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By Distribution Channel: Supermarkets/hypermarket segment accounted for the largest share of the Global Cultured Meat Market in 2021, due to the wide availability of different brands in one place, a large consumer base, and the capacity to hold multiple users simultaneously.

The availability of a wide range of Cultured Meat end products of different brands in supermarkets or hypermarkets coupled with increasing demand for nutritional meat including cultured meat products among consumers are anticipated to propel the growth of the segment in the market.

By Geography: North America region accounted for the largest share of the Global Cultured Meat Market in 2021, owing to the high spending on research and development for innovative cultured meat products.

The growing consumption of meat and meat products among North American consumers along with rising awareness regarding the benefits of cultured meat over conventional meat among consumers, is expected to augment the growth of the region in the Cultured Meat Market.

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Competitive Landscape

The Cultured Meat Market is highly competitive with ~100 players that include globally diversified players, regional players as well as a large number of country-niche players having their niche in Cultured Meat.

Country-niche players comprise ~70% of the total number of competitors, while the regional players comprise the second highest of the total number of competitors. Some of the major players in the market include Aleph Farms, AVANTMEATS, BlueNalu, Inc., Finless Foods Inc., Future Meat, Upside Foods, Meatable, Eat Just, Inc., MosaMeat, and Integri Culture Inc. among others.

The leading global cultured meat companies such as Upside Foods, Aleph Farms, and Eat Just, Inc. are highly focused on gaining investment for the research and development of new cultured meat products and on the production of slaughter-free meat products.

For more insights on the market intelligence, refer to the link below:-
https://www.kenresearch.com/business-research/global-cultured-meat-market-outlook-2030/

Recent Developments Related to Major Players

In June 2022, AVANTMEATS, a Hong Kong-based cultured meat manufacturer, raised US$ 10.8 million in a Series A funding round. Multiple companies invested in Series A funding round but S2G Venture, has invested US$ 5 million in AVANTMEATS. The company aimed to secure investment to support its research and development for its cell-cultured seafood.
In December 2021, Upside Foods, a manufacturer of cultivated meat, seafood, and poultry products, developed a breakthrough cell feed (also called media) that is completely animal component-free (ACF). This new development of media was the crucial step towards making cultivated meat cost-effective, delicious, and scalable along with protecting animal welfare and the environment.
In July 2021, Aleph Farms, a manufacturer of sustainable, cultivated meat products, gained US$ 105 million in funding in a Series B funding round. The funding round was led by DisruptAD, the largest venture platform in the Middle East, and the Growth Fund of L Catterton, a consumer-focused private equity firm. The company aimed to utilize the funds for large-scale global commercialization of cultured beef steaks and to expand the company's product portfolio.

Conclusion

The Global Cultured Meat Market is forecasted to continue exponential growth, primarily driven by the increasing number of investments to support the research and development of cultured meat products. Innovations in cellular agriculture and increasing focus to develop new techniques to produce culture meat that is cost-effective as well as efficient are likely to propel the growth of the market. Moreover, the rising inclination towards environmental sustainability and animal welfare is anticipated to boost the demand for slaughter-free production of meat. Though the market is competitive with ~100 participants, regional players control the dominant market share.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for pre-booking clients, and the report delivered within a maximum of two working weeks.

Ken Research has recently published report titled, Global Cultured Meat Market Size, Segments, Outlook, and Revenue Forecast 2022-2030 market is segmented by source, end products, production technique, end-user, and distribution channel. In addition, the report also covers market size and forecasts for the four region's Cultured Meat Market. The revenue used to size and forecast the market for each segment is US$ million.

By Source

Poultry
Beef
Seafood
Pork
Duck

By End Products

Nuggets
Burger Patties
Meatballs
Hot Dogs & Sausages

By Production Technique

Scaffold-Based Technique
Self-Organizing Technique
Cell Culture Media

By End-Users

Households
Food Services Industry
Processed Food
Pet Food Industry

By Distribution Channel

Direct
Wholesalers
Hypermarkets/Supermarkets
Specialty Stores
Online Retail
Other Retail Sectors

By Geography

North America (USA, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy)
Asia-Pacific (China, Japan, South Korea, India, Indonesia, Australia)
LAMEA (Latin America, Middle East, Africa)

Key Players

Aleph Farms
AVANTMEATS
BlueNalu, Inc.
Finless Foods Inc.
Future Meat
Upside Foods
Meatable
Eat Just, Inc.
MosaMeat
Integri Culture Inc.

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