Cultured Meat Industry Overview
The global cultured meat market size was valued at USD 163.6 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 11.4% from 2022 to 2028.
The market is anticipated to be driven by the growing preference of consumers to adopt a protein-rich diet. Moreover, the increasing reliance on omega-3 fatty acids to accomplish the demand for essential nutrients is expected to contribute to the market growth over the forecast period. The growing preference for pork-based in-vitro meat to fulfill the demand for vitamins and nutrients will fuel the industry growth.
Moreover, the rising concerns regarding food safety in the consumer goods sector are anticipated to boost the growth of the market. In the COVID-19 pandemic, the demand for in-vitro meat slightly increased due to the growing demand for healthy food. In-vitro meat gained immense traction during the COVID-19 era to scale up the healthy diet. The rising concerns among consumers to boost immunity and adopt nutritious ingredients in meals are propelling the market growth.
Gather more insights about the market drivers, restrains and growth of the Global Cultured Meat Market
The rising demand to procure nutritional ingredients in developing countries is expected to open up growth opportunities for the market. Numerous other aspects that are likely to drive the global cultured meat industry comprise improvements in cellular agriculture and the increasing inclination toward animal welfare as well as environmental sustainability. However, stringent government rules and regulations and consumer skepticism toward in-vitro meat are affecting the market growth. At present, key players in the market are focusing on slaughter-free production of meat. Hence, the market is expected to witness significant growth during the forecast period.
Cultured meat is a kind of lab-grown meat manufactured using several practices of tissue engineering approaches in a culture medium. Cultured meat is also known as clean meat, in vitro meat, and synthetic meat. The manufacturing of cultured meat is complete by gathering cells from an animal and growing them in a developed and favorable culture medium. There are vast benefits associated with the consumption and manufacturing of cultured meat including zero animal cruelty, less deforestation, and relatively low usage of antibiotics, water, land, and other resources.
Cultured beef is manufactured through animal muscle cell gathering, followed by nourishing the cells for the formation of muscle tissue. The usage of cultured beef needs 99% less space as compared to present livestock farming techniques. A rise in disposable income and the growing middle-class expenditure, particularly in developing countries, would offer growth opportunities. As per the Food and Agriculture Organization, the world demand is anticipated to surge by more than 66% by 2060, which will boost the need for cultured meat due to its minimum greenhouse gas releases and other environmental effects.
The rising investment by the U.S.-based prominent players, such as Bluenalu, Inc. and Fork Goode, coupled with the increasing demand for ground beef burgers from the U.S. and Canada, will further fuel the industry growth. The major players in the market are procuring cell-cultured seafood with a natural taste of meat. These sea-based in-vitro meat products are highly preferred in the U.S.to maintain health. Some companies such as Mosa Meat and Memphis Meats are involved in the certification procedure.
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- Beef Market - The global beef market size was valued at USD 467.7 billion in 2021 and is expected to progress at a compound annual growth rate (CAGR) of 4.8% from 2022 to 2030. With increasing globalization, the food preferences of consumers around the world have witnessed some significant changes. Consumers are increasing their protein intake, resulting in the rising demand for meat.
- L-carnitine Market - The global L-carnitine market size was valued at USD 185.0 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.1% from 2021 to 2028. The market is witnessing a high growth owing to a rising health-conscious consumer base, increasing number of product launches consisting of L-carnitine, and increasing demand from the animal feed industry.
Cultured Meat Market Segmentation
Grand View Research has segmented the global cultured meat market on the basis of source, end-use, and region:
Cultured Meat Source Outlook (Revenue, USD Million, 2017 - 2028)
- Poultry
- Beef
- Seafood
- Pork
- Duck
Cultured Meat End-use Outlook (Revenue, USD Million, 2017 - 2028)
- Nuggets
- Burgers
- Meatballs
- Sausages
- Hot Dogs
Cultured Meat Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- Europe
- Asia Pacific
- Central South America
- Middle East Africa
Market Share Insights
- September 2021: Nomad Foods Limited, a U.K.-based frozen fish corporation, combined forces with the U.S. seafood cell-cultured business BlueNalu on a project, which is anticipated to lead to the introduction of cell-based products in Europe.
- December 2020: The Singapore Food Agency approved the sale of lab-grown meat products for meat consumers. The U.S.-based company, Eat Just is providing cultured chicken for the meat consumers of Singapore. The growing adoption of in-vitro meat to beat zoonotic diseases will drive the regional market.
Key Companies profiled:
Some prominent players in the global Cultured Meat market include
- Aleph Farms Ltd.
- Avant Meats Company Limited
- Balletic Foods
- Bluenalu, Inc.
- Biofood Systems LTD.
- Finless Foods Inc.
- Fork Goode
- Future Meat Technologies Ltd.
- Higher Steaks
- Integriculture Inc.
- Lab Farm Foods
- Meatable
- Memphis Meats
- Mission Barns
- Mosa Meat
- New Age Meats
- Shiok Meats
- Supermeat
- Wild Type
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