Press release
Segmentation, Major Trends, and Competitive Overview of the Cultured Meat Market
Cultured Meat
Projected Expansion and Market Size of Cultured Meat by 2029
The cultured meat industry is set for remarkable growth, with its market size anticipated to reach $0.54 billion by 2029. This expansion reflects a compound annual growth rate (CAGR) of 18.3%, signaling strong momentum throughout the forecast period. Several factors contribute to this growth, including effective cost reduction strategies, the rising global population, an increasing variety of product offerings, and the integration of cultured meat into everyday culinary practices. Key trends driving the market also include technological innovations, enhanced investment and funding opportunities, a broadened range of cultured meat products, and heightened awareness of environmental and ethical concerns.
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Top Companies Leading the Cultured Meat Market Today
The cultured meat market features numerous prominent companies shaping the industry's future. These 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., and Cultured Decadence LLC.
A notable development occurred in January 2022 when US-based food tech company UPSIDE Foods acquired Cultured Decadence for an undisclosed sum. This strategic move expanded UPSIDE Foods' portfolio of cultivated meat and seafood products by incorporating Cultured Decadence's proprietary cell culture and tissue engineering technology. Cultured Decadence specializes in cellular aquaculture focused on crustacean products, and this acquisition strengthens UPSIDE Foods' commitment to innovation and sustainability within the cultivated meat sector.
Emerging Trends That Are Shaping the Cultured Meat Industry
Leading companies in the cultured meat area are innovating by introducing novel products to capture market share. One standout trend is the development of cultivated fish balls, which are created using cellular agriculture techniques. For example, in August 2022, Singapore's Umami Bioworks launched cultivated fish ball laksa, featuring fish balls made from cultured fish cells combined with plant proteins to improve texture and flavor.
Umami Bioworks is dedicated to offering sustainable alternatives to endangered fish species by employing a proprietary, non-GMO process that produces fish muscle, fat, and connective tissue from a single stem cell. Their cultivation method results in seafood free from contaminants such as mercury, antibiotics, and microplastics, offering consumers a healthier and more environmentally friendly seafood option.
View the full cultured meat market report:
https://www.thebusinessresearchcompany.com/report/cultured-meat-global-market-report
Breakdown and Segmentation of the Cultured Meat Market
This report segments the cultured meat market across several important categories:
1) By Type: Poultry, Beef, Seafood, Pork, and Duck
2) By Application: Nuggets, Sausages, Burgers, Hot Dogs, Meatballs, and Other Applications
3) By Distribution Channel: Hypermarkets, Food and Drink Specialty Stores, Convenience Stores, Online Retail, and Other Distribution Channels
4) By End-User: Household and Food Services
Further subsegments under each type include:
- Poultry: Chicken, Turkey, and Other Poultry varieties
- Beef: Ground Beef, Steak, and Other Beef Cuts
- Seafood: Fish, Shellfish, and Other Seafood types
- Pork: Bacon, Sausage, Pork Chops, and Other Pork Cuts
- Duck: Duck Breast, Duck Leg, and Other Duck Cuts
This detailed segmentation helps clarify the diverse opportunities and specific market niches within the cultured meat industry.
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