Global Cultured Meat Market Report and Forecast 2024-2032

Global Cultured Meat Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global cultured meat market size was approximately USD 2.79 billion in 2023. Aided by advancements in biotechnology and cellular agriculture techniques, the market is assessed to grow at a CAGR of 45.5% between 2024 and 2032, reaching a value of nearly USD 81.66 billion by 2032.

Cultured meat, also known as lab-grown, cell-based, or cultivated meat, is an innovative food product created by cultivating animal cells in a controlled environment to produce muscle tissue that mimics conventional meat. This process offers a sustainable and ethical alternative to traditional livestock farming, aiming to address environmental, animal welfare, and food security concerns.

The global cultured meat market is experiencing dynamic growth, propelled by several transformative trends that are reshaping the future of food production and consumption. One of the most prominent trends is the increasing consumer demand for sustainable and ethical food sources. As awareness about the environmental impact of traditional livestock farming grows, more consumers are seeking alternatives that reduce carbon footprints, conserve water, and minimise land use. Cultured meat, produced through cellular agriculture, addresses these concerns by offering a sustainable solution that does not require the extensive resources associated with conventional meat production.

Another significant cultured meat market trend is the advancement in biotechnology and cellular agriculture techniques, which are driving the efficiency and scalability of cultured meat production. Innovations in cell culture media, bioreactors, and scaffolding materials are enhancing the viability and affordability of cultured meat. Researchers and companies are making significant strides in improving the taste, texture, and nutritional profile of cultured meat, making it more appealing to mainstream consumers. These technological advancements are critical in reducing production costs, which is essential for making cultured meat competitive with traditional meat products.

The regulatory landscape is also evolving, playing a crucial role in the global cultured meat market expansion. Regulatory bodies in various countries are beginning to establish frameworks to ensure the safety and labelling of cultured meat products. For instance, Singapore became the first country to approve the sale of cultured meat, setting a precedent for other nations to follow. This regulatory progress is essential for building consumer trust and facilitating market entry for cultured meat products on a global scale.

Investment and funding in the global cultured meat market are at an all-time high, reflecting growing confidence in the potential of this technology to revolutionise the food industry. Venture capitalists, private equity firms, and even traditional meat companies are investing heavily in cultured meat startups. This influx of capital is accelerating research and development efforts, enabling companies to bring products to market faster and expand production capabilities. Strategic partnerships between biotech firms, food manufacturers, and distributors are also emerging, fostering collaboration and innovation within the market.

Consumer perception and acceptance of the product are also fuelling the cultured meat market expansion, driven by effective marketing and education efforts. Companies are focusing on transparent communication about the benefits of cultured meat, including its environmental sustainability, animal welfare, and potential health advantages. Tastings and product demonstrations are helping to familiarise consumers with cultured meat, dispelling myths and misconceptions. As consumer awareness and acceptance grow, the market for cultured meat is expected to expand significantly.

The impact of cultured meat on traditional meat industries is another critical cultured meat market trend. Conventional meat producers are increasingly recognising the potential of cultured meat and are exploring ways to integrate it into their product portfolios. Some traditional meat companies are investing in or partnering with cultured meat startups to diversify their offerings and stay competitive in a rapidly changing market. This convergence of traditional and cultured meat sectors is expected to drive innovation and expand the overall meat market.

The role of cultured meat in addressing food security is also gaining attention. As the global population continues to grow, ensuring a stable and sustainable food supply is becoming increasingly challenging. Cultured meat offers a promising solution by providing a reliable source of protein that is less susceptible to the fluctuations and vulnerabilities of traditional livestock farming. This potential to contribute to global food security is driving interest and investment from governments and international organisations.

Market segmentation within the cultured meat sector is becoming more defined, with companies targeting specific consumer segments and product categories. For example, some startups are focusing on premium products such as cultured beef steaks, while others are developing ground meat products for burgers and sausages. This diversification is helping to cater to a broad range of consumer preferences and dietary needs, enhancing the global cultured meat market development.

The integration of cultured meat into existing food systems is another emerging trend. Companies are exploring ways to incorporate cultured meat into processed foods, ready-to-eat meals, and restaurant menus. This approach not only broadens the market reach of cultured meat but also makes it more accessible to consumers who may be hesitant to try new products. Collaborations with food service providers and retailers are playing a crucial role in this integration, ensuring that cultured meat products are widely available.

Challenges remain in the cultured meat market, particularly related to scaling production and reducing costs. Achieving commercial-scale production that is economically viable requires significant technological advancements and infrastructure investment. However, the ongoing research and development efforts, coupled with strong financial backing, are expected to overcome these challenges over time.

Market Segmentation

The global cultured meat market can be divided based on source, application, end-use, and region.

Market Breakup by Source

• Poultry
• Pork
• Beef
• Seafood
• Duck

Market Breakup by Mode of Application

• Nuggets
• Burgers
• Meatballs
• Sausages
• Hot Dogs
• Others

Market Breakup by End-Use

• Household
• Foodservices
• Pet Industry

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global cultured meat market. Some of the major players explored in the report by Expert Market Research are as follows:

• BlueNalu, Inc.
• Supermeat The Essence of Meat Ltd.
• Shiok Meats Pte Ltd.
• Finless Foods, Inc.
• Upside Foods, Inc.
• Mission Barns
• Vow Group Pty Ltd.
• Aleph Farms Ltd.
• Eat Just, Inc. (GOOD Meat)
• Meatable B.V.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.