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Cultured Meat Market was valued at USD 665 million in 2023 and is poised to grow at over 137% CAGR from 2024 to 2032.
Meat production has grown exponentially over recent years, attributed to consistent population growth and a steady rise in disposable incomes. According to OECD, the global production of meat comprising pork, poultry, and beef reached an estimated 340 million tons in 2021. The proliferation of industrialized agriculture has put traditional animal husbandry under pressure and also resulted in increased GHG and carbon emissions. These practices, in turn, have bolstered the demand for meat substitutes, such as plant-based alternatives and cell-based meat, creating a favorable growth outlook for the cultured meat market.
Report Attribute | Details |
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Base Year: | 2023 |
Cultured Meat Market Size in 2023: | |
Forecast Period: | 2024 - 2032 |
Forecast Period 2023 - 2032 CAGR: | 137 |
2023 Value Projection: | |
Historical Data for: | 2018 - 2023 |
No of Pages: | 350 |
Tables, Charts & Figures: | 378 |
Segments Covered: | Source, End use and Region |
Growth Drivers: |
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Pitfalls Challenges: |
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Cultured meat facilities involve high set-up costs, which may impact the market dynamics over the next ten years. Additionally, artificial meat labs are subject to stringent regulatory norms and requirements and have to undergo frequent inspections. This makes their operations a bit complicated and may further impede market performance. However, increasing strategic alliances and ample acquisition opportunities market may favor the industry expansion.
The cultured meat market from poultry segment is predicted to reach USD 4.9 billion by 2032, credited to the increasing consumption and subsequent rise in poultry meat imports. According to the US Department of Agriculture (USDA), global poultry imports could reach 17.5 million metric tons by 2031. Besides, the accelerating consumer shift toward animal-friendly food products will drive the cultured meat business through 2032.
Based on the end-user, the cultured meat market share from burgers segment is slated to exhibit over 142% CAGR during the forecast timeline, propelled by the growing consumer inclination toward alternative protein-sourced food products, such as alternative meat burgers. Moreover, the escalating environmental concerns associated with industrial livestock practices may further augment the demand for synthetic meat.
The Europe cultured meat market is projected to witness 175% CAGR and amass USD 5.5 billion by 2032, fueled by the rising health concerns and the increasing uptake of alternative protein products due to their rich nutritional composition. Nonetheless, the growing popularity of several meat alternatives and the rapid inclination toward environmentally sustainable products will further boost clean meat demand in the region.
Leading companies in the cultured meat market include:
Companies operating in this business vertical have been focusing on strengthening their strategic bonds to expand their global reach and gain a competitive edge over their counterparts. For instance, in August 2021, Upside Foods partnered with chef Dominique Crenn. This strategic partnership aimed to serve the company’s cell-based chicken in Atelier Crenn restaurant in San Francisco post-regulatory approval.
The COVID-19 pandemic had a significant impact on global meat production, value chain management, and meat prices resulting in an intense socio-economic crisis worldwide. As a result of panic buying during the initial months of the viral outbreak, meat and meat product costs witnessed a noticeable uptick. In contrast, later on, production and demand for meat fell significantly owing to lockdown restrictions and the declining purchasing power of consumers, resulting in diminished product demand.
Besides, the unprecedented shutdown of in vitro meat labs and facilities due to lockdown situations and labor force shortage further worsened the crisis. The modifications in the legislation of local and international export markets severely disrupted industrial operations, further hampering the industry revenue streams.
Market, By Source
Market, By End-use
The above information has been provided for the following regions and countries:
The market size of cultured meat was worth USD 665 million in 2023 and is slated to exhibit over 137% CAGR from 2024 to 2032, aided by the significant rise in demand and uptake of meat and meat products.
Notable players in the market are Mosa Meat, Upside Foods, Aleph Farms, Finless Foods, Meatable, New Age Meats, HigherSteaks, Biofood Systems, Avant Meats Company Limited, Balletic Foods, Future Meat Technologies, BlueNalu, Eat Just, Biotech Foods, and Cell AG Tech.
The burgers segment is set to expand at mare than 142% CAGR through 2032, attributed to the accelerating consumer shift toward alternative protein-sourced food products.
Europe cultured meat industry is projected to grow at 175% CAGR between 2023 and 2032, backed by the increasing consumption of alternative protein products due to rising health consciousness and growing health concerns.
The poultry segment is anticipated to garner USD 4.9 billion in revenues by 2032 owing to increasing poultry imports and the rising popularity of animal-friendly food products.