Cultured Meat Market

Product Overview

Cultured Meat Market to surpass USD 2005.3 billion by 2031 from USD 166.3 billion in 2021 at a CAGR of 28.4% in the coming years, i.e., 2021-31.

Cultured meat, also known as cultivated meat, vitro meat, and lab-grown meat. It is a better alternative to conventional animal meat. Cultured meat is animal meat that is produced by cultivating animal cells directly. The manufacturing process begins with culturing muscle cells from animals and then the cells are nourished with an oxygen-rich cell culture medium and other growth factors, in a similar way it happens inside an animal’s body. The necessity to raise animals for food is deducted by this method.

Market Highlights

Global Cultured Meat Market is expected to project a notable CAGR of 28.4% in 2031.

Cultured meat has numerous advantages over conventional meat, includes environment kindliness, free from cardiovascular diseases and animal food-borne diseases, and increases the global cultured meat market growth. Cultured meat is taken as an alternative protein product. Consumer’s focus is shifting toward a nutritional diet based on a greater sustainable lifestyle and lesser overreliance on animal proteins, the industry is expected to grow at a steady rate.

Global Cultured Meat Market: Segments

Poultry segment to grow with the highest CAGR during 2021-31

Global Cultured Meat Market is classified based on Source into Poultry, Beef, Seafood, Pork, and Duck. The Poultry in the Source segment held the largest share. The cultured chicken products are expected to have a lesser price as compared to other sources and are widely gaining popularity around the globe. many restaurants, fast food chains, and packaged food companies the rising popularity of poultry products encourage manufacturers to generate alternative products to fulfill demand from meat consumers.

Nuggets segment to grow with the highest CAGR during 2021-31

Based on end-use, the global Cultured Meat Market is fragmented into Nuggets, Burgers, Meatballs, Sausages, Hot Dogs. Nuggets are one of the primary forms, in which most restaurants and hotels serve chicken products. Chicken remains the most popular meat product among people in different countries. The rising adoption of on-the-go food products fuels the increasing use of cultured meat in the nuggets segment. Consumers prefer ready-to-eat food products instead of cooking.

Market Dynamics

Drivers

Growing concerns for animal welfare

One of the market's primary drivers is a growing concern for animal welfare. The rising concern about animal cruelty in meat production built a favorable impact on consumer mindset toward consuming meat products. Furthermore, fulfilling daily protein requirements with the advancement of technology is likely to propel the growth of the cultured meat market during the forecast period.

Rising need for food security and sustainable diets

The Cultured Meat Market is also growing as a result of increased consumer and industry awareness of health concerns. As the general public becomes more aware of food security, there will be greater demand for cultured meat. Increased meat consumption and demand for a nutritional diet are also considerable factors to use the animal-based meat alternative products. Production of cultured meat in the lab gives disinfected environment. It is free from any bacterial growth or diseases that spread with the consumption of cultured meat.

Restraint

High costs associated with the market

Overcapacity may be the most significant constraint for this industry. The production of cultured meat with current technology is very expensive. The high capital investment cost is a major challenge restraining the growth of the cultured meat market.

Global Cultured Meat Market: Key Players

• Memphis Meats

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• BlueNalu, Inc.
• Eat Just, Inc.
• Cellular Agriculture Ltd
• IntegriCulture Inc.
• Avant Meat Company Limited
• Mosa Meat
• Cubiq Foods
• Shiok Meats
• Mutable
• Future Meat Technologies
• SuperMeat
• Mission Barns, Inc.
• Higher Steaks
• New Age Meats 
• Other Prominent Players

Global Cultured Meat Market: Regions

Global Cultured Meat Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America has dominated the industry in recent years with a significant share due to an increase in innovations and developments, and high spending for streamlined research and development work is expected to be the contributing factor to its largest share. The market in Europe is expected to account for the second-highest share and is expected to grow the fastest during the forecast period.

Impact of Covid-19 on Cultured Meat Market

The food and beverage industry is strongly affected by the global pandemic of COVID-19 disease which hit the sales of major food and beverage products. The research and development work has been stopped, due to the shutdown of various plants and factories which further affects the production of cultured meat.

Global Cultured Meat Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• the Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

The global Cultured Meat Market report also contains an analysis on:

Cultured Meat Market Segments:

• By Source 
  • Poultry
  • Beef
  • Seafood
  • Pork
  • Duck
• By End Use 
  • Nuggets
  • Burgers
  • Meatballs
  • Sausages
  • Hot Dogs
• Cultured Meat Market Dynamics
• Cultured Meat Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Cultured Meat Market Report Scope and Segmentation

Frequently Asked Questions (FAQ):