Global Cultured Meat Market Size, Share & Trends Analysis Report, By Source, By End-User, By Region Forecasts, 2024-2032

Global Cultured Meat Market Size, Share & Trends Analysis Report, By Source, By End-User, By Region Forecasts, 2024-2032

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.

The rising rate of meat consumption as the world's population grows, the detrimental effects of meat consumption on the environment, and advancements in alternative protein technologies are some of the major factors driving the rise of the cultured meat business. Companies that raise meat are attempting to enter the market, particularly in the US, through the foodservice channels. The major market participants are prioritising the expansion of their research and development divisions and manufacturing facilities above the large-scale commercialization of cultured meat. Additionally, businesses are concentrating on bringing down the cost of producing cultured meats, which will eventually propel world expansion.

Another emerging technique in the market for alternative proteins is cellular agriculture. The need for meat alternatives and alternative proteins is driving the development of new technologies such as 3D bioprinting and nanofiber manufacturing, which enable the production of meat products that are raised in culture. Growing technological breakthroughs are causing a change in the way people produce food. Businesses and academic institutes are always looking into developed meat. Probably the largest advancement in the animal food products business in recent years has been the application of biotechnology in the production of livestock food products.

The two main strategies used by market innovators are broad manufacturing capacity and alliances and collaborations. The goal of market participants has been to increase their market shares in the worldwide farmed meat sector. Organisations currently focus on developing or third-world countries, as well as economies that are expanding but do not yet have a significant presence in the cattle production industry. For example, three enterprises dedicated to the cultivation of meat were established in 2021 in Brazil, South Africa, and Mexico.

“Poultry segment, by source, to be dominating market from 2023 to 2030.”

In 2023, poultry accounted for almost 39.0 percent of total revenue. The consumption of chicken has increased significantly in North America throughout the last 50 years. The most popular food item in the US is chicken, which is slaughtered annually for eight point five billion meals. Around the world, more than 50 billion birds are raised each year. A lot of new investors place their money on cellular agriculture in the hopes of expanding the poultry category by adding chicken-cultured products. Between 2023 and 2030, the pork market is projected to increase at a compound annual growth rate (CAGR) of 52.6%.

“Burgers segment, by end use, to be dominating market from 2023 to 2030.”

In 2023, burgers accounted for over 41% of total sales. Form meat stubs and consumers' growing interest in sustainable and ethical eating will help the cultivated burger. Investor interest in this industry will increase as a result of some of these businesses and firms experimenting with different aspects of produced meat. In January 2020, Mosa Meat, the world's first manufacturer of cultured meat burgers, announced that it would be partnering with Nutreco, an animal feed firm that specialises in producing nutrient-rich liquids for meat production.

“North America to be largest region in Cultured Meat market.”

North America held a dominant position in the cultured meat industry in 2022, accounting for over 35% of the total share. Significant players in the area are in favour of this growth because there is a growing market for sustainably produced meat and poultry products. A number of American businesses, most notably BluNalu and Fork & Goode, are devoting more and more funds to cell-agriculture technology in the hopes of producing farmed meat on American soil. Additionally, favourable local laws governing chicken products are fostering a climate that is favourable to the FDA and USDA; in March 2019, a consensus was reached about the regulation of food products derived from poultry or livestock that are cell cultured.

Asia-Pacific is expected to outperform all other markets during the projection period, with a projected CAGR of 52.9%. The increased demand for meat among the local populace is contributing to the industry's expansion. In 2021, the FAO also noted rising per capita consumption of beef, particularly in Asia-Pacific nations. Additionally, the industry is expanding because to rising sales of fish raised in labs. Furthermore, encouraging government initiatives in nations like Singapore and China support the expansion of intensive livestock farming. SFA approved Eat Just's sale of chicken derived from cells in Singapore in December 2020.

Cultured Meat Competitive Landscape

The competitive landscape of the Cultured Meat market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of Cultured Meat technology holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.

The Cultured Meat market is highly competitive, with numerous companies vying for market share. Prominent companies in the Cultured Meat Market include:

Aleph Farms, Biftek INC, Avant Meats Company Limited, Mosa Meat, BioFood Systems Ltd, BlueNalu, Inc., WildType, Shiok Meats Pte Ltd, New Age Eats, SuperMeat, Finless Foods, Inc., Meatable, Future Meat Technologies Ltd, Mission Barns, Fork & Good, Inc., UPSIDE Foods, and others.

Recent Developments:

A partnership was formed in September 2023 by HDPC, which is entirely controlled by the Public Investment Fund of Saudi Arabia, and Eat Just Inc., an American business. HPDC will offer advisory services on ""how to acquire the halal certification as well as appropriate operation licence"" in an effort to help the company Eat just. In addition to offering HPDC technical know-how in areas like engineering and product management, this partnership with Eat Just would help Eat Just devise a successful plan for breaking into the halal market, which would enable them to export their goods to both domestic and foreign markets.

In May 2022, Integri-Culture Inc. successfully raised USD 7 million from 12 investors as part of a series A funding effort, which increased the company's available funds. Since their last operation, the firm has seen an increase in funding to roughly US$16.3 million. Integri-Culture Inc. aimed to develop an infrastructure platform for cellular agriculture that is open-access and available to any type of business through this endeavour.

In December 2020, Mosa Meat declared that it had secured more than $10 million in funding from Bell Food Group, a well-known European producer of meat and convenience foods. With this investment, Mosa Meat will be able to increase the amount of cultured meat it produces. By doing this, Mosa Meat will be able to advance its technology, construct a pilot manufacturing facility, and test the finished product on real consumers prior to a full-scale launch.