PUBLISHER: The Business Research Company | PRODUCT CODE: 1414150
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414150
“Cultivated Meat Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cultivated meat market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cultivated meat? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The cultivated meat market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Cultivated meat, also referred to as cultured meat, represents genuine meat sourced from animals but produced in a laboratory setting by directly cultivating animal cells. The process involves harvesting cells from live animals, which are then cultured and grown in a bioreactor, where they are nourished with essential nutrients. This innovative approach to meat production addresses the escalating demand for food driven by the expanding global population.
Cultivated meat comes in various types, with red meat, poultry, and seafood being the primary categories. Red meat, named for its color when uncooked, encompasses meat derived from non-bird animals. Rich in protein, iron, B vitamins, and minerals such as zinc and phosphorus, red meat finds application in various forms, including poultry, beef, seafood, pork, and duck. These meat sources are utilized in the production of items such as nuggets, burgers, meatballs, sausage, hot dogs, and other meat-based products.
The cultivated meat market research report is one of a series of new reports from The Business Research Company that provides cultivated meat market statistics, including cultivated meat industry global market size, regional shares, competitors with a cultivated meat market share, detailed cultivated meat market segments, market trends and opportunities, and any further data you may need to thrive in the cultivated meat industry. This cultivated meat market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The cultivated meat market size has grown rapidly in recent years. It will grow from $7.87 billion in 2023 to $9.31 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. The expansion observed during the historic period can be ascribed to several factors, including heightened environmental concerns, a growing emphasis on health and nutrition, increased investment influx, positive consumer acceptance, efforts towards cost reduction, and culinary innovation.
The cultivated meat market size is expected to see rapid growth in the next few years. It will grow to $17.18 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The anticipated growth in the forecast period can be attributed to various factors, including scale-up initiatives, market expansion efforts, the influence of global regulatory frameworks, the competitive landscape of the market, nutritional tailoring of products, and strategic marketing and branding. Key trends expected during this period encompass technological advancements, a diverse range of product offerings, increased investment and funding activities, collaborative efforts through partnerships, and the scaling of production capacities.
The anticipated rise in meat product consumption is poised to drive the growth trajectory of the cultivated meat market in the coming years. Defined as products suitable for human consumption, derived wholly or partially from animal carcasses, meat products are integral to diets worldwide. Cultivated meat, with its sustainable production model, holds promise in augmenting meat availability while potentially addressing global hunger challenges. This innovative approach to meat production conserves natural resources and negates the need for animal husbandry or slaughter, given the perpetual growth of supplied cells. Further accentuating this trend is the growing preference for protein-rich diets. A case in point is the data from the United States Department of Agriculture (USDA) in December 2021, indicating that per capita consumption of red meat and poultry is set to rise from 224.1 pounds in 2020 to an estimated 226.9 pounds by 2023. Moreover, projections from the Food and Agriculture Organization (FAO) highlight a 15% surge in global meat consumption by 2031, driven by population growth, with respective increases in protein availability from poultry, pork, beef, and sheep meat.
The global challenge of ensuring food security, characterized by barriers to consistent access to nutritious food, has spurred interest in alternative protein sources such as cultivated meat. As the world grapples with increasing population pressures, the cultivation of meat offers a more sustainable, efficient protein production method compared to traditional livestock farming, thus bolstering food security efforts. A notable observation from the U.S. Department of Agriculture (USDA) in October 2023 reveals that 87.2% (115.8 million) of U.S. households maintained food security in 2022, marking a decline from the 89.8% (118.5 million) reported in 2021, while 7.7% (10.2 million) faced challenges with low food security. Given the escalating food security concerns globally, the cultivated meat market is poised for significant growth in the foreseeable future.
Technological advancements emerge as a prominent trend gaining traction in the cultivated meat market, with major companies actively engaged in developing and implementing new and improved technologies to secure their positions. An illustrative example is Meatable BV, a Netherlands-based biotechnology firm, which announced its innovative pork sausages product in July 2022. Meatable BV has been perfecting its approach to producing cultivated meat using opti-ox technology, eliminating the need for fetal bovine serum (FBS). This groundbreaking method involves harmlessly obtaining a single-cell sample from an animal to create actual meat with the same structure, texture, glossiness, and distinctive pork flavor. The product mimics the typical sizzle in the pan, akin to traditional sausages, and reaches maturity in just a few weeks. Research estimates suggest that cultured meat may reduce the environmental impact of the meat industry by up to 92%.
Major players in the cultivated meat market are also making strategic investments in industrial-scale facilities to gain a competitive edge and expand their customer base. Noteworthy is Future Meat Technologies, an Israeli-based company specializing in advanced technology for cultured meat production, which inaugurated the world's first industrial-scale cultured meat facility in June 2021. With a daily production capacity of 500 kilograms, equivalent to 5,000 hamburgers, the facility represents a significant advancement in scalable cell-based meat production. It produces cultured chicken, pork, and lamb without animal serum or genetic modification (non-GMO), with beef production in the pipeline. Utilizing a distinctive platform, the facility achieves rapid production cycles, approximately 20 times faster than conventional animal agriculture. It also features proprietary media rejuvenation technology at scale, enabling production densities ten times higher than the industrial standard.
In April 2023, Archer-Daniels-Midland Company, a US-based food processing and commodities trading firm, forged a partnership with Believer Meats to explore new opportunities for the development and marketing of cultured meat products. This collaboration aims to leverage innovative ingredients and solutions to fuel the creation of intriguing products, addressing the growing demand fueled by persistent themes of food security and sustainability. Believer Meats, an Israel-based biotechnology company, specializes in producing cultured meat from chicken cells.
Major companies operating in the cultivated meat market report are Aleph Farms Ltd., MosaMeat BV, SuperMeat Just Inc., Integriculture Inc., Finless Foods Inc., Avant Meats Company Limited, UncommonBio, Biofood Systems LTD., Fork & Goode Inc., Mission Barns, Bluenalu Inc., Shiok Meats Pte Ltd., UPSIDE Foods, Clear Meat, Cubiq Foods, Gourmey, Eat Just Inc., Future Meat Technologies, Meatable B.V, Jose Batista Sobrinho, Agronomics Limited, CULT Food Science Corp, Tyson Foods Inc., Cargill Incorporated, Neto Group, BioTech Foods, LabFarm Foods, BioNaturals, Balletic Foods, Cultured Decadence
North America was the largest region in the cultivated meat market in 2023. The regions covered in the cultivated meat market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the cultivated meat market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The cultivated meat market consists of sales of organ meats and cultivated animal meat. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.