The latest report by IMARC Group, titled “Cultured Meat Market Report by Source (Poultry, Beef, Seafood, Pork, Duck), Application (Nuggets, Burgers, Meatballs, Sausages, Hot Dogs), End User (Household, Food Services), and Region 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on the market. The global cultured meat market size reached US$ 209.1 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 582.6 Million by 2032, exhibiting a growth rate (CAGR) of 11.8% during 2024-2032.
Factors Affecting the Growth of the Global Cultured Meat Industry:
- Increasing Concerns for Animal Welfare:
Animal welfare concerns are another significant factor driving the growth of the cultured meat market. The traditional meat industry involves the rearing and slaughtering of billions of animals annually, raising ethical issues regarding the treatment and living conditions of livestock. Many consumers are increasingly disturbed by the cruelty involved in conventional meat production and are seeking alternatives that do not involve animal suffering. Cultured meat, produced from animal cells without the need for raising and killing animals, offers a solution that aligns with the values of animal welfare advocates. This ethical advantage makes cultured meat an attractive option for vegetarians, vegans, and flexitarians who seek to minimize their impact on animal life.
- Rising Focus on Environment Sustainability:
Another primary driver for the cultured meat market is the increasing awareness and concern about environmental sustainability. Traditional livestock farming is a significant contributor to greenhouse gas emissions, deforestation, and water usage. It is estimated that livestock farming accounts for about 14.5% of global greenhouse gas emissions. Cultured meat, also known as lab-grown meat, presents a promising solution to these environmental challenges. It requires significantly less land and water and produces fewer greenhouse gases compared to conventional meat production. For instance, producing cultured meat could reduce land use by over 95% and water use by about 78-82%. As consumers and policymakers become more environmentally conscious, the demand for sustainable alternatives to conventional meat is growing. This shift in consumer preferences and regulatory pressures to reduce environmental impact are key factors driving the expansion and investment in the cultured meat market.
- Food Security and Health:
Food security and health considerations are also driving the cultured meat market. As the global population continues to grow, projected to reach nearly 10 billion by 2050, the demand for protein-rich foods is increasing. Traditional meat production may not be able to meet this demand sustainably due to its resource-intensive nature. Cultured meat offers a scalable solution that can help address food security challenges by providing a consistent and reliable source of protein without the limitations of conventional livestock farming. Furthermore, cultured meat can be engineered to be healthier than traditional meat by controlling fat content and eliminating the risk of zoonotic diseases, which are often transmitted from animals to humans. This aspect is particularly relevant in the wake of the COVID-19 pandemic, which has heightened awareness of the health risks associated with animal farming.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
- 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
- Upside Foods.
Cultured Meat Market Report Segmentation:
By Source:
- Poultry
- Beef
- Seafood
- Pork
- Duck
Poultry holds the largest market share the rising consumption of chicken and eggs.
By Application:
- Nuggets
- Burgers
- Meatballs
- Sausages
- Hot Dogs
Based on the application, the market has been divided nuggets, burgers, meatballs, sausages, and hot dogs.
By End User:
- Household
- Food Services
Food services hold the largest market share as they are increasingly looking to incorporate cultured meat as a rising number of consumers are seeking plant-based and sustainable options.
Regional Insights:
- 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
Asia Pacific’s dominance in the cultured meat market is attributed to the rising disposable incomes and rapidly growing population, particularly in urban areas.
Global Cultured Meat Market Trends:
A critical trend shaping the cultured meat market is the progress in regulatory approvals and increasing government support. Regulatory frameworks are evolving to accommodate the unique aspects of cultured meat production, with some countries already granting approvals for its sale and consumption. Besides, consumer acceptance and market penetration are also key trends in the cultured meat industry. While initial skepticism and cultural barriers exist, public perception is gradually shifting in favor of lab-grown meat due to its potential benefits. Marketing efforts, education campaigns, and high-profile endorsements are playing a vital role in changing consumer attitudes. Companies are focusing on transparency about the production process and emphasizing the environmental, ethical, and health advantages of cultured meat.
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