Global Cultured Meat Market is expected to record a positive CAGR of ~25% during the forecast period (2022-2030): Ken Research

What Is the Size of Global Cultured Meat Industry?

Global Cultured Meat market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F. Global Cultured Meat market is largely driven by the increasing number of investments for research and development of cultured meat along with rising inclination towards environmental sustainability and animal welfare

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.

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.

Global Cultured Meat Market By Source

The Global Cultured Meat market is segmented by Source into Poultry, Beef, Seafood, Pork, Duck.  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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Global Cultured Meat Market By End Products

The Global Cultured Meat Market is segmented by End Products into Nuggets Burger Patties, Meatballs, Hot Dogs & Sausages. 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.

Global Cultured Meat Market By Geography

The Global Cultured Meat market is segmented by geography into North America, Europe, Asia- pacific and LAMEA. 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.

Global Cultured Meat Market By Distribution Channel

The Global Cultured Meat market is segmented by Distribution Channel into Direct, Wholesalers, Hypermarkets/Supermarkets, Specialty Stores, Online Retail, Other Retail Sectors. 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 Source

Poultry
Beef
Seafood
Pork
Duck

By End Products

Nuggets
Burger Patties
Meatballs
Hot Dogs & Sausages

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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.

For more insights on the market intelligence, refer to below link:-

https://www.kenresearch.com/business-research/global-cultured-meat-market-outlook-2030/

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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.