Press release
Evolving Market Trends In The Cultured Meat Industry: Product Innovations Transforming The Cultured Meat Market
Cultured Meat Market
What Is the Current Cultured Meat Market Size and Its Estimated Growth Rate?
In recent times, the cultured meat market has seen a swift expansion. The market, which is expected to spike from $0.23 billion in 2024 to $0.28 billion in 2025, boasts a 19.9% compound annual growth rate (CAGR). Factors such as sustainable food production, animal welfare consciousness, efficient resource utilization, increasing demand for protein alternatives, and inflow of investments and funding have contributed significantly to its growth in the previous period.
The market size for cultured meat is anticipated to experience swift expansion in the coming years, reaching $0.54 billion by 2029 with a compound annual growth rate (CAGR) of 18.3%. This forecasted growth can be attributed to strategies aimed at reducing costs, the global population increase, diversification in product offerings, and inclusion in culinary practices. Key trends anticipated during the forecast period include technological innovations, investment inflows, a variety of cultured meat products, and considerations around the environment and ethics.
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How Are Emerging Segments Shaping the Cultured Meat Market Landscape?
The cultured meat market covered in this report is segmented -
1) By Type: Poultry, Beef, Seafood, Pork, Duck
2) By Application: Nuggets, Sausages, Burgers, Hot Dogs, Meatballs, Other Applications
3) By Distribution Channel: Hyper markets, Food And Drink Specialty Stores, Convenience Stores, Online Retail, Other Distribution Channels
4) By End-User: Household, Food Services
Subsegments:
1) By Poultry: Chicken, Turkey, Other Poultry
2) By Beef: Ground Beef, Steak, Other Beef Cuts
3) By Seafood: Fish, Shellfish, Other Seafood
4) By Pork: Bacon, Sausage, Pork Chops, Other Pork Cuts
5) By Duck: Duck Breast, Duck Leg, Other Duck Cuts
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Which Growth Factors Are Influencing Cultured Meat Market Expansion?
Globally, the cultured meat market is experiencing growth due to a rise in meat consumption. Cultured meat, being less contaminated than animal meat, is seen as a healthier alternative. The need for protein and elevated disposable income are causing a surge in meat consumption around the world. For example, the Australian Bureau of Statistics reported that red meat production rose by 3.6% from March to June 2024. Chicken meat production during the same period climbed significantly by 5.4% to total 374,602 tonnes. Moreover, there was a 2.8% increase in beef production in the quarter of June 2024, reaching a sum of 626,781 tonnes.
Who Are the Dominant Players Across Different Cultured Meat Market Segments?
Major companies operating in the cultured meat market include Shiok Meats Pte. Ltd., Because Animals Inc., Lab Farm Foods Ltd., Biofood Systems Inc., Mosa Meat BV, Higher Steaks Cultivated Meat Ltd., UPSIDE Foods Inc., Eat Just Inc., Mission Barns Food Inc., Memphis Meats Inc., Mirai Foods Co. Ltd., Aleph Farms Ltd., Vow Foods Pty. Ltd., BioTech Foods Ltd., Meatable Pte. Ltd., Future Meat Technologies Ltd., Hoxton Farms Inc., Modern Meadow Inc., Bond Pet Foods Inc., Redefine Meat Ltd., MeaTech 3D Ltd., Finless Foods Inc., SuperMeat Ltd., Integriculture Inc., Cubiq Foods Inc., Cell Farm Food Tech Ltd., Avant Meats Company Inc., Cultured Decadence LLC
What Cultured Meat Market Trends Are Gaining Traction Across Different Segments?
The cultured meat market is seeing significant advancements from leading businesses, with the introduction of innovative products like cultivated fish balls to stay competitive. The term cultivated fish balls generally points towards fish balls created through cellular agriculture or cultured meat technology. As an example, Umami Bioworks, a Singapore-based enterprise specializing in cultivated seafood, unleashed the cultivated fish ball laksa in August 2022. These fish balls are crafted from cultivated fish cells with the addition of plant proteins to improve texture and taste. The company's goal is centered on crafting sustainable substitutes for endangered fish species using a distinctive, non-GMO method to generate fish muscle, fat, and connective tissue from a single stem cell. This production process results in seafood that is devoid of mercury, antibiotics, microplastics, and additional ocean pollutants, offering consumers a healthier and more sustainable option.
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Which Geographic Regions Are Expected to Dominate the Cultured Meat Market in the Coming Years?
North America was the largest region in the cultured meat market in 2024. The regions covered in the cultured meat market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Cultured Meat Market?
2. What is the CAGR expected in the Cultured Meat Market?
3. What Are the Key Innovations Transforming the Cultured Meat Industry?
4. Which Region Is Leading the Cultured Meat Market?
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