Global Artificial Meat Market - 2023-2030

Global Artificial Meat Market - 2023-2030

The Global Artificial Meat Market reached US$ 150.4 million in 2022 and is expected to reach US$ 435 million by 2030 growing with a CAGR of 14.2% during the forecast period 2023-2030.

Artificial meat is created by taking a small sample of animal cells, such as muscle cells, and then growing these cells in a culture medium under controlled conditions to produce meat that is virtually identical to conventionally produced meat. The process of creating artificial meat typically involves isolating muscle cells from an animal, such as a cow or chicken, and then placing them in a nutrient-rich culture medium that contains the necessary nutrients for the cells to grow and divide. Over time, these cells multiply and begin to form muscle tissue, which can be harvested and processed into meat products.

Scaffold-based meat production is a meat alternative method that involves using scaffolds or frameworks to support the growth of cells, mimicking the structure of traditional meat products. Bioreactors play a crucial role in the production of artificial meat, providing a controlled environment for cell cultures to grow and replicate, leading to the production of sustainable and lab-grown meat. Tissue engineering techniques are utilized in the production of artificial meat, allowing for the cultivation and assembly of cells into functional meat products without the need for traditional animal farming. Clean meat is a form of artificial meat produced by culturing animal cells, offering a sustainable and cruelty-free alternative to traditional meat production.

Market Dynamics

The Rising Concern of Consumers Towards Animal Welfare is Driving the Artificial Meat Industry

Many consumers are concerned about the welfare of animals in traditional meat production systems, which involve raising and slaughtering animals for food. The process of producing artificial meat involves taking a small sample of animal cells and using them to grow meat in a lab, without the need to raise and slaughter animals. This process reduces the amount of animal suffering involved in meat production, making it an attractive option for those who are concerned about animal welfare.

In addition to reducing animal suffering, the artificial meat market also offers the potential to improve the living conditions of animals. Because artificial meat does not require animals to be raised for food, farmers can focus on improving the living conditions of animals used for other purposes, such as milk or wool production. The artificial meat market also offers the potential for more humane treatment of animals in the meat industry. By reducing the demand for conventionally produced meat, the market could encourage farmers and producers to adopt more humane practices, such as better living conditions and reduced use of antibiotics and hormones.

Developing Innovative New Food Products Shows a Remarkable Opportunity for Artificial Meat Market Growth

The development of new food products is a significant opportunity for the artificial meat market. As consumers become more aware of the environmental and ethical implications of traditional meat production, they are increasingly seeking out alternatives, including plant-based and lab-grown meat products. Consumers are becoming more conscious of the impact of their food choices on the environment and animal welfare, there is a growing demand for sustainable and ethical food options.

Artificial meat, which can be produced without the environmental and animal welfare issues associated with traditional meat production, is well-positioned to meet this demand. An increase in product launches by major key players helps to boost segment growth over the forecast period. For instance, on July 20, 2022, Meatable, a cultivated meat company, launched lab-grown synthetic sausages in the market.

High Cost of the Artificial Meat Hampers Market Growth

The high cost of cultured meat is indeed a significant restraint that hampers market growth. The production process of cultured meat involves complex and resource-intensive techniques, which currently contribute to its high cost compared to conventionally produced meat. The development of artificial meat requires substantial investment in research and development activities. Scientists and researchers need to conduct extensive studies and experiments to optimize cell culture techniques, develop suitable growth media, and enhance the scalability of the production process.

Artificial meat is made by using cells from animals that are grown in in a laboratory. This process required a growth medium to stimulate cell growth. This step required lot of investment that limit the amount of artificial meat production and making the product too expensive for average consumers. More than $280,000 was spent on the first burger created from animal cells in culture. A liter of growth media may cost $400. Costs can soon mount because one kilogram of cultured beef may require up to 600 liters of growth media.

COVID-19 Impact

The pandemic has caused disruptions in manufacturing and supply chains across various industries, including the artificial meat sector. Restrictions on movement, labor shortages, and logistical challenges have affected the production and distribution of artificial meat products. Economic downturns and uncertainties during the pandemic have impacted consumer purchasing power. Artificial meat products, often priced higher than conventional meat, may face challenges in terms of affordability and consumer willingness to spend on premium products.

The pandemic has caused delays in market entry and investment activities in the artificial meat sector. Start-ups and companies looking to enter the market or expand their operations may face challenges due to financial constraints, limited investor interest, or difficulties in conducting business activities.

Segment Analysis

The Poultry Segment is Expected to Hold the Largest Market Share Due to the increase in the Government Approvals

The global artificial meat market by source has been segmented by duck, beef, poultry, seafood, and pork.

Poultry refers to meat produced through cellular agriculture techniques in a laboratory setting. It involves the cultivation of animal cells, typically obtained from a biopsy of live animals, which are then cultured and multiplied to create meat products. Poultry has gained attention as a potential solution to address the environmental and ethical concerns associated with conventional poultry production.

Poultry has the potential to significantly reduce the environmental impact of traditional poultry farming. Poultry eliminates the need for raising and slaughtering animals for meat production. An increase in government approvals for artificial poultry meat helps to boost segment growth over the forecast period. For instance, on March 22, 2023, GOOD Meat, a California-based cultivated meat company received approval from the U.S. Food and Drug Administration for lab-grown chicken.

Geographical Analysis

Increase in the Government Initiatives and Approvals of Artificial Meat Helps to Boost Regional Growth

North America has a strong tradition of environmentalism and sustainability, and people are becoming increasingly aware of the negative impact that traditional meat production can have on the environment. Artificial meat, which has a lower carbon footprint and uses fewer resources, may be seen as a more sustainable alternative. There is growing concern about the health risks associated with consuming large amounts of meat, particularly processed meat.

On November 18, 2022, the US Food And Drug Administration (FDA) approved the consumption and sales of lab-grown meat. Also, on March 21 2023, GOOD Meat, a meat company received no questions certifications from the U.S. Food and Drug Administration. More than two years after its historic certification and introduction in Singapore, this completes a necessary step in introducing GOOD Meat to restaurants and retail in the United States. The increase in government approvals for artificial meat helps to boost regional growth over the forecast period.

Competitive Landscape

The major global players include Meatable, Just Inc., Aleph Farms, Mosa Meat, Finless Foods, Memphis Meats, SuperMeat, Mirai Foods, BlueNalu, and Orbillion Bio Inc.

Why Purchase the Report?
• To visualize the global artificial meat market segmentation based on source, application, and distribution channel and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of artificial meat market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global artificial meat market report would provide approximately 61 tables, 63 figures, and 200 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies