Cultured Meat Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Cultured Meat Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global cultured meat market size reached US$ 184.4 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 388.0 Million by 2028, exhibiting a growth rate (CAGR) of 13.4% during 2023-2028.

Cultured meat, also known as cultivated meat, is created in laboratories from a few animal cells without slaughtering any animal. It eliminates the need of farming and raising animals for food and prevents E. coli bacteria and other contaminants from entering the human body, which may be present in the conventional meat processing plant. Its production requires less land, uses less water, and produces less pollution compared to traditional meat production, which releases methane (CH4), carbon dioxide (CO2), nitrous oxide (N2O), and other greenhouse gases.

Cultured Meat Market Trends:

The growing awareness among the masses about the benefits of cultured meat like low environmental impact, eliminating the need to raise animals, and decreasing public health risks, represents one of the key factors driving the market. Moreover, there is a rise in the adoption of nutritional diets among the masses. This, along with the escalating demand for cultured meat among consumers allergic to animal-based proteins, is propelling the growth of the market. In addition, increasing concerns about animal welfare as animals around the world are illegally used for entertainment, food, medicine, and scientific advancement are positively influencing the market. Besides this, key market players are extensively investing in research and development (R&D) activities to introduce 3D printed cultured meat for creating precise digitally printed structures. They are also focusing on promoting the benefits of 3D printed cultured meat technology, such as preserving the texture, taste, and nutritional properties of animal meat products. Other growth-inducing factors are high per capita meat consumption and imports, increased demand for quick-service restaurants (QSRs), rising consumption of meat and meat products, and the rapid improvements in online food delivery services.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global cultured meat market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on source, application and end user.

Breakup by Source:

Poultry
Beef
Seafood
Pork
Duck

Breakup by Application:

Nuggets
Burgers
Meatballs
Sausages
Hot Dogs

Breakup by End User:

Household
Food Services

Breakup by Region:

North America

United States
Canada

Asia-Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Aleph Farms, BlueNalu Inc., Cubiq Foods S.L., Finless Foods Inc., Future Meat Technologies, IntegriCulture Inc., Meatable, Mission Barns, Mosa Meat, New Age Meats, Shiok Meats and Upside Foods.

Key Questions Answered in This Report:

What was the size of the global cultured meat market in 2022?

What is the expected growth rate of the global cultured meat market during 2023-2028?

What are the key factors driving the global cultured meat market?

What has been the impact of COVID-19 on the global cultured meat market?

What is the breakup of the global cultured meat market based on the source?

What is the breakup of the global cultured meat market based on end user?

What are the key regions in the global cultured meat market?

Who are the key players/companies in the global cultured meat market?