Global Cultured Meat Market was valued at US $ 0.2 billion in 2023 and is expected to reach US $ 1.1 billion by 2032 growing at a CAGR of 16.5% during the forecast period 2024–2032. This means clean flesh which is cultivated or developed in a laboratory under control settings and environment. This type of meat is indeed real meat but unlike normal meat which comes from dead animals, this variety is manufactured using tiny animal cells. The main idea driving cultured meat production besides humanization of the meat industry involves creation of a shared natural environment for humans and animals to peacefully exist together.
At the completion of year 2019, some well-known international companies will be competing with others to change the whole world’s meat business. However, some questions related to its nutritional value and safety as food remain unanswered. Lab-made meat comes from stem cells that constitute the basic units of all existing organisms. Stem cells taken from the aftermath of an animal are immersed into fluids which enhance the process of multiplication in the cells. Once these steps have been concluded, the full equipment is fitted in a bioreactor. Used in a laboratory to farm animals.
Our research analyst is forecasting that the overall cultured meat market will be able to increase at an average annual rate of almost 13.11% per year from the time period of 2023 to 2030.
In 2022, it was forecasted that the global cultured meat market would have revenues amounting to about USD221.47million and grow to USD592.69million by 2030.
However, rising worry over mistreatment of animals in meat production will drive the market for cultured meat to significant expansion.
According to an end use segmentation, burgers were expected to account for the largest sales volume in 2022.As regards source segmentation it was poultry which came out on top in 2022.Specifically, North America became the major earner of profits during the year 2022.
The Cultured Meat Trend Analysis
Rising concerns over unethical treatment of animals in the meat industry to drive market growth
The global market for cultured meat is expected to grow as concerns about the unethical treatment of animals slaughtered to meet the needs of the meat industry intensify. Farm animal abuse is now a problem that generates concern among many organizations for animal protection as well as most civilians. Official records show that these animals undergo inhuman activities. In order to reduce total operational costs in an animal farm, they live in too small spaces. In addition, most laying hens live in battery cages that leave little room for moving around.
Moreover, in relation with increased demands in the food industry many animals are castrated or genetically modified just for assurance enough supplies. It is reported that such therapy is also effective on a pet’s mental health aside from providing physical benefits. Several animal welfare organizations both regional and international undertaken campaigns in efforts to create awareness on the living conditions of the animals. These factors are collectively expected to lead to rising cultured meat demand because it doesn’t cause negative impacts on animals. A small amount of stolen stem cells produces a lot of beef cuts.
Segmentation Analysis of the Cultured Meat Market
Source Insights
Poultry was the third player with over approximately 39.0 percent of total revenue in 2022. Over the past fifty years, chicken consumption in North America has really picked up speed. Eight point five billion chickens are slaughtered per annum in America making it the most eaten body part in US. More than 50 billion birds are grown annually around the globe. Many investors who are also starting on the market, put their bets on cellular agriculture, with a view of changing poultry- cultured goods to the poultry category, hence growing it. The pork market is expected to experience an annual growth rate (CAGR) of 52.6% between 2023 and 2030. According to USDA, among American people, it’s also red meat; in fact, pork is one of three most popularly consumed types of meat in the world. To a large extent, the covid 19 pandemic exposed not only the shortcomings of the sector but also the vulnerabilities associated with an animal-based food system, which increasingly gave way to different varieties of pork. To a large extent, the covid 19 pandemic exposed not only the shortcomings of the sector but also the vulnerabilities associated with an animal- based food system, which increasingly gave way to different varieties of pork. Wider range of attempts by the increasing number of new and old companies in the area attempting pork from cultivated pig cells is also making pig facial a bigger deal.
End-use Insights
Burgers contributed almost 41% of the overall revenue in 2022. Cultivated burger, will benefit from form meat stubs and customers’ increasing interest in ethical consumption and sustainability. Some of these companies and firms will experiment on various facets of cultivated meat which will boost investors’ interest in this industry. Mosa Meat which was the first cultured meat burger producer in the world announced its collaboration with Nutreco, an animal feed company that specializes in creating nutrient-rich liquids to make meat, back in January of 2020.
Regional Analysis of the Cultured Meat Market
The cultured meat marketing in 2022 had been led by North America with more than 35% of the entire market share. Major actors in the region support this expansion and because there are increasing demands for sustainable meat and poultry products. Several American companies especially Fork & Goode and BluNalu are increasingly channelling some resources toward cell-agriculture technologies in the hope of manufacturing cultivated meat domestically. Furthermore, positive regional legislations pertaining to cultured chicken products is creating an enabling environment on behalf of FDA and USDA, there was a consensus in March 2019 concerning regulation of poultry or livestock-derived cell-cultured food products
At a projected CAGR of 52.9% Asia-Pacific will lead all other markets over the forecast period. The high demand for meat consumption among residents in this region is also fueling the industry’ growth. FAO also reported growing beef consumption per capita, especially among countries under the Asia-Pacific region in 2021.
In addition, growing lab-cultured fish sales are aiding in market growth. Additionally, favourable governmental programmes in countries such as China and Singapore strengthen growth in the intensive livestock production. Eat Just was given approval to sell cell-based poultry in Singapore by SFA in Dec, 2020.
COVID-19 Impact Analysis on Cultured Meat Market.
The products that will be discussed is cultured meat also known as lab-grown or cell-based meat which is grown using controlled animal cells instead of conventional animal husbandry. Cultured meat is produced without direct connection to any viral infection but it tackles issues on environment, ethics and sustainability of conventionally produced meat.
Top Key Players Covered Ship repairing Market
Key Industry Developments in the Cultured Meat Market
| Report Components | Details |
|---|---|
| Base Year | 2022 |
| Forecast Period | 2023 – 2030 |
| Quantitative Units | Revenue in US $ |
| Drivers | Rising concerns over unethical treatment of animals in the meat industry to drive market growth |
| Segments Covered | By Source: Poultry, Beef, Seafood, Pork, Duck; By End-use: Nuggets, Burgers, Meatballs, Sausages, Hotdogs |
| Countries Covered | U.S. and Canada in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the APAC, Others include Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA), Brazil, Argentina, Mexico, and Rest of South America as part of South America |
| Market Players Covered | Aleph Farms, Avant Meats Company Limited, Biftek INC, Mosa Meat, BlueNalu, Inc., BioFood Systems Ltd, WildType, New Age Eats, Shiok Meats Pte Ltd, SuperMeat, Meatable, Finless Foods, Inc, Fork & Good, Inc., Future Meat Technologies Ltd, UPSIDE Foods, Mission Barns |
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