Cultured Meat Market Forecast Highlights Increasing Demand for Ethical and Sustainable Protein Sources

Cultured Meat Industry Outlook 2024-2032

Summary:

• What is the forecast for cultured meat?

Cultured meat market size reached USD 209.1 Million in 2023 and is projected to reach USD 582.6 Million by 2032 at a 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 significantly lower environmental footprint.

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

• Food services hold the largest share in the cultured meat industry.

• The rising consumer demand for eco-friendly food manufacturing processes is a primary driver of the cultured meat market.

• Developments in agriculture technologies and investments in research and development (R&D) ventures are reshaping the cultured meat market.

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Industry Trends and Drivers:

• Growing Demand for Sustainable and Ethical Food Production:

The growth of the cultured meat market is primarily driven by the increasing demand for sustainable and ethical food production. As concerns about environmental degradation, deforestation, and greenhouse gas emissions associated with traditional livestock farming rise, consumers are seeking alternatives that have a smaller ecological footprint. Cultured meat, produced through cellular agriculture, offers a solution by significantly reducing land, water, and energy use compared to conventional meat production. Additionally, it minimizes the ethical concerns surrounding animal welfare, as it is created without the need for animal slaughter. This shift in consumer preference toward sustainable, cruelty-free products is propelling market growth, particularly in regions where environmental consciousness is high.

• Technological Advancements in Cellular Agriculture:

Technological advancements in cellular agriculture and biotechnology are contributing substantially to the expansion of the cultured meat market. Innovations in cell culture techniques, bioreactor designs, and tissue engineering have significantly improved the efficiency of producing cultured meat at scale. These advancements are lowering production costs and making cultured meat a more viable commercial product. Moreover, companies are increasingly investing in research and development (R&D) to enhance the texture, taste, and nutritional profile of cultured meat to match, or even surpass, that of traditionally farmed meat. As the technology continues to advance, the cost gap between cultured and conventional meat is expected to narrow, propelling widespread adoption. The ability to produce various types of cultured meat, such as beef, chicken, and seafood, also creates a favorable industry outlook.

• Rising Health and Safety Concerns:

Health and safety concerns related to conventional meat production are significantly influencing the growth of the cultured meat market. Traditional meat farming is often associated with the use of antibiotics and growth hormones, which can lead to the development of antibiotic-resistant bacteria and potential health risks for consumers. Additionally, outbreaks of diseases such as avian flu, swine flu, and mad cow disease have heightened public awareness about the risks linked to meat consumption from conventional sources. Cultured meat, being produced in controlled environments, eliminates the need for antibiotics and reduces the risk of contamination. This appeal of cultured meat as a safer, healthier alternative is encouraging consumers and businesses to explore its potential, facilitating overall market expansion.

Cultured Meat Market Report Segmentation:

Breakup By Source:

• Poultry
• Beef
• Seafood
• Pork
• Duck

Poultry accounts for the majority of shares due to the rising global consumption of chicken and eggs.

Breakup By Application:

• Nuggets
• Burgers
• Meatballs
• Sausages
• Hot Dogs

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

Breakup By End User:

• Household
• Food Services

Food services dominate the market due to the rising number of consumers seeking plant-based and sustainable 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 strong governmental support for food innovation and rising consumer demand for sustainable protein sources, particularly in countries such as Singapore and China.

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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Key questions answered in this report:

• What is the forecast for cultured meat?
Cultured meat market size reached USD 209.1 Million in 2023 and is projected to reach USD 582.6 Million by 2032 at a CAGR of 11.8% during 2024-2032.

• What is the cultivated meat market worth?
Base Year: 2023
Forecast Years: 2024-2032
Historical Years: 2018-2023
Market Size in 2023: USD 209.1 Million
Market Forecast in 2032: USD 582.6 Million
Market Growth Rate (2024-2032): 11.8%

• Is cultured meat real meat?
Cultured meat, also known as lab-grown or cell-based meat, is real meat at the cellular level. It's produced by cultivating animal cells in a controlled environment, without raising whole animals. While it's genetically identical to conventional meat, the production process differs. Nutritionally and biologically, it's considered real meat.

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This release was published on openPR.