Global Cultured Meat Markets, 2023-2028 and Forecasts to 2034 with Mosa Meat, UPSIDE FOODS, JUST, Inc, Integriculture, and BioCraft Dominating
DUBLIN, Feb. 21, 2024 /PRNewswire/ -- The "Cultured Meat Market by Source (Poultry, Beef, Seafood, Pork, Duck), End Use (Nuggets, Burgers, Meatballs, Sausages, Hot Dogs), and Region (North America, Europe, Asia Pacific, South America, Middle East & Africa) - Global Forecast to 2034" report has been added to ResearchAndMarkets.com's offering.
The cultured meat market projected to reach USD 0.2 billion in 2023 and USD 1.1 billion by 2034, at a CAGR of 16.5% from 2028 to 2034
The report provides comprehensive insights into market dynamics, encompassing drivers, limitations, challenges, and opportunities that influence the growth of the cultured meat market. Additionally, it offers a thorough analysis of key industry players, their business profiles, solutions, services, strategies, contracts, partnerships, agreements, new product launches, mergers, acquisitions, and recent developments in the cultured meat market. The report also includes a competitive analysis of emerging startups within the cultured meat market ecosystem.
The market for next five years since 2023 is projected to grow at 16.1%. Growing ethical concerns surrounding the treatment and slaughter of animals in conventional agriculture have become a driving force behind the quest for alternative food sources. Consumers are increasingly concerned by the inhumane conditions, overcrowding, use of antibiotics, and the often stressful lives of animals raised for food.
This awareness has led to a surge in demand for cruelty-free and more compassionate choices in the realm of food production. Cultured meat, also known as lab-grown or clean meat, presents a compelling solution as it offers the prospect of satisfying the world's appetite for meat while bypassing the need to raise and slaughter animals. This innovative approach resonates with consumers who seek products that align with their ethical values, creating a significant shift in the food industry and driving the advancement of alternative protein sources.
Prominent companies include Mosa Meat (Netherlands), UPSIDE FOODS (US), JUST, Inc. (US), and Integriculture Inc. (Japan), and BioCraft, Inc (US), among others.
Poultry in the by source segment is expected to be one of the fastest growing sub-segments in the market.
The poultry segment is positioned for the swiftest growth in the cultured meat market, primarily due to the substantial reduction in antibiotics and disease risk. In traditional poultry farming, the overuse of antibiotics to promote growth and combat diseases has raised concerns about antibiotic resistance and the transmission of these resistant strains to humans.
Cultured poultry, in contrast, can be produced in a controlled, sterile environment, significantly reducing the need for antibiotics. The absence of crowded and stressful conditions in poultry farms also mitigates the risk of diseases spreading among animals. This not only addresses pressing public health concerns but also appeals to consumers seeking safer, antibiotic-free meat options. As health and safety become paramount in food choices, the poultry segment in the cultured meat market is poised for rapid growth, driven by these critical factors.
The US is projected to have the largest share during the forecast period.
US is a global leader in technological innovation and research, which provides a strong foundation for advancing the cultured meat industry. The country boasts a robust biotechnology and cellular agriculture sector, supported by world-renowned research institutions and startups dedicated to developing cultured meat. Furthermore, the US has a sizable and diverse consumer base, including health-conscious individuals, environmentally-aware consumers, and those seeking ethical and sustainable food choices. This broad market appeal positions the U.S. as a prime location for cultured meat adoption.
The government's supportive stance and regulatory frameworks for alternative protein sources, along with substantial investment from both public and private sectors, are propelling the industry forward. Additionally, the US has a history of embracing food innovations, making it a fertile ground for cultured meat to gain traction. All of these factors collectively establish US as a dominant player in the cultured meat market, projected to hold the largest market share.
Premium Insights
- Growing Health Concerns Related to Traditional Meat and Shortfall in Supply of Meat Products to Drive the Market Growth in Normal Scenario
- North America Projected to Dominate the Market by 2034
- Nuggets Segment to Dominate Market During Forecast Period
- Poultry Segment Projected to Dominate Market by 2028
- Canada Projected to be Fastest-Growing Country-Level Market for Cultured Meat in Normal Scenario
Market Dynamics
- Macroeconomic Indicators
- Cultured Meat to Be Resilient and Sustainable Protein Source
- Crucial Role of Investment Trends in Cultured Meat Innovation
Drivers
- Increasing Demand for Alternative Protein
- Technological Advancements in Cellular Agriculture
- Enhanced Food Safety
- Investments by Key Industry Giants
- Environmental Sustainability
- Focus on Animal Welfare
- Health Benefits Offered by Cultured Meat
Restraints
- Stringent Regulatory Environment
- High Setup Cost
Opportunities
- High Per Capita Meat Consumption and Imports in Emerging Southeast Asian Economies
Challenges
- Skepticism Among Consumers
- Increased Demand for Plant-based Protein
Company Profiles
Major Players
- Mosa Meat
- Upside Foods
- Eat Just, Inc.
- Integriculture Inc.
- Mewery
- Biocraft, Inc.
- Finless Foods, Inc.
- Avant Meats
- Bluenalu
- Fork & Good
- Mission Barns
- Cubiq Foods
- Ivy Farm Technologies Limited
- Meatable
Startups/SMEs/Other Players
- Biotech Foods
- O Meat
- Biobq
- Pearlita Foods
- Wildbio
- Gourmey
- Peace of Meat
- Wild Type
- Labfarm
- Shiok Meats Pte Ltd.
- Clearmeat
- Eat Just, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/x8gzgy
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