According to the latest report by IMARC Group, titled “Cultured Meat Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global cultured meat market size reached US$ 184.4 Million in 2022. Cultured meat, also known as lab-grown meat, is produced in laboratories by cultivating animal cells without slaughtering any animal. It relies on tissue engineering techniques that allow scientists to grow real meat from a small sample of animal cells while eliminating the need for animal husbandry. It is a sustainable method that requires less water and land, reduces greenhouse gas (GHG) emissions, and resource depletion. Besides this, it assists in reducing the environmental impact as compared to conventional meat production.
Global Cultured Meat Market Trends:
At present, the rising adoption of cultured meat due to specific nutritional requirements among individuals represents one of the major factors impelling the growth of the market. In line with this, the growing demand for safer alternatives that reduce the risk of contaminations and foodborne illnesses are providing a positive market outlook. Additionally, the increasing awareness among consumers about the environmental and ethical implications of conventional meat production is offering lucrative growth opportunities to industry investors. Apart from this, the rising focus on improving the scalability and viability of the cultured meat production process among scientists is supporting the growth of the market. In addition, the growing adoption of cultured meat due to the rising demand for sustainable and animal-friendly alternatives among individuals across the globe is positively influencing the market. Furthermore, technological advancements in biotechnology and tissue engineering that assist in more efficient and cost-effective production of cultured meat are supporting the growth of the market. Looking forward, the market value is projected to reach US$ 388.0 Million by 2028, expanding at a CAGR of 13.4% during 2023-2028.
- Based on the source, the market has been divided into poultry, beef, seafood, pork, and duck. Presently, poultry holds the largest market share.
- On the basis of the application, the market has been classified into nuggets, burgers, meatballs, sausages, and hot dogs.
- Based on the end user, food services exhibit a clear dominance in the market, followed by the household.
- Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being 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, and Upside Foods.
|Base Year of the Analysis
||Source, Application, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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 and Upside Foods.
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