What Is the Size of Global Cultured Meat Industry?
Global Cultured Meat market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F. Global Cultured Meat market is largely driven by the increasing number of investments for research and development of cultured meat along with rising inclination towards environmental sustainability and animal welfare
The rising number of investments by big giants like Cargill, Tyson, and others in cultured meat and the increased focus of manufacturers on producing slaughter-free meat to fulfill consumers’ demand for animal protein is likely to propel the growth of the Global Cultured Meat Market. The global Cultured Meat Market faces challenges due to the high production cost and consumer skepticism towards lab-based meat products.
The production cost for cultured meat is comparatively higher than that of conventional meat as cultured meat requires a growth medium to stimulate cell growth, which adds to the cost of the production and may hinder the growth of the market. However, intensive research and development are going on to reduce the cost of production.
The COVID-19 pandemic positively impacted the Cultured Meat Market owing to the increased demand for nutritional products including meat products. Moreover, consumers are shifting towards nutritional diets or protein-rich diets to lead a healthier lifestyle, which is expected to increase the demand for animal products including cultured meat.
Global Cultured Meat Market By Source
The Global Cultured Meat market is segmented by Source into Poultry, Beef, Seafood, Pork, Duck. The poultry segment held the largest share of the Global Cultured Meat Market by type in 2021, owing to the growing demand for poultry products in quick-service restaurants and the food service industry. The easy availability of cultured poultry products at affordable prices along with the rising popularity of poultry products among consumers has encouraged manufacturers to develop innovative cultured poultry products to meet consumers’ demand, which is expected to fuel the demand for the segment in the Global Cultured Meat Market.
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Global Cultured Meat Market By End Products
The Global Cultured Meat Market is segmented by End Products into Nuggets Burger Patties, Meatballs, Hot Dogs & Sausages. The nuggets segment accounted for the largest share of the Global Cultured Meat Market in 2021, attributed to rising demand for on-the-go food products like nuggets and increasing consumption of snacking food products. The increasing consumption of meat products in the form of nuggets, especially chicken nuggets in various countries, is anticipated to aid the growth of the segment in the Global Cultured Meat Market.
Global Cultured Meat Market By Geography
The Global Cultured Meat market is segmented by geography into North America, Europe, Asia- pacific and LAMEA. North America region accounted for the largest share of the Global Cultured Meat Market in 2021, owing to the high spending on research and development for innovative cultured meat products.
The growing consumption of meat and meat products among North American consumers along with rising awareness regarding the benefits of cultured meat over conventional meat among consumers, is expected to augment the growth of the region in the Cultured Meat Market.
Global Cultured Meat Market By Distribution Channel
The Global Cultured Meat market is segmented by Distribution Channel into Direct, Wholesalers, Hypermarkets/Supermarkets, Specialty Stores, Online Retail, Other Retail Sectors. Supermarkets/hypermarket segment accounted for the largest share of the Global Cultured Meat Market in 2021, due to the wide availability of different brands in one place, a large consumer base, and the capacity to hold multiple users simultaneously.
The availability of a wide range of Cultured Meat end products of different brands in supermarkets or hypermarkets coupled with increasing demand for nutritional meat including cultured meat products among consumers are anticipated to propel the growth of the segment in the market.
By End Products
- Burger Patties
- Hot Dogs & Sausages
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By Production Technique
- Scaffold-Based Technique
- Self-Organizing Technique
- Cell Culture Media
- Food Services Industry
- Processed Food
- Pet Food Industry
By Distribution Channel
- Specialty Stores
- Online Retail
- Other Retail Sectors
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, France, Spain, Italy)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Australia)
- LAMEA (Latin America, Middle East, Africa)
- Aleph Farms
- BlueNalu, Inc.
- Finless Foods Inc.
- Future Meat
- Upside Foods
- Eat Just, Inc.
- Integri Culture Inc.
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