Global Cultivated Meat Market Size 2024, Forecast To 2033
6 Mar, 2024
The cultivated meat market has undergone rapid growth, increasing from $7.87 billion in 2023 to $9.31 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. This growth during the historical period is attributed to factors such as environmental concerns, considerations of health and nutrition, an influx of investments, consumer acceptance, cost reduction, and culinary innovation. Moving forward into 2028, the market is anticipated to experience rapid growth, reaching $17.18 billion at a CAGR of 16.5%. The projected growth in the forecast period is associated with initiatives focused on scaling up production, market expansion, the establishment of global regulatory frameworks, a competitive market landscape, nutritional tailoring, and effective marketing and branding. Major trends in the forecast period include technological advancements, the introduction of diverse product offerings, increased investment and funding, collaborations and partnerships, and efforts to scale production.
Global Cultivated Meat Market Key Driver
The surge in meat product consumption is poised to drive the cultivated meat market's growth in the coming years. Meat products encompass items utilized as human food, derived wholly or partially from animal carcasses. Cultivated meat presents a sustainable avenue for enhancing meat consumption by augmenting food availability and potentially mitigating world hunger. Cultivated meat, utilizing fewer natural resources compared to conventional meat, circumvents the need for animal growth or butchering as cells perpetually multiply. Moreover, the escalating trend in protein consumption further propels meat product consumption. As per a report by the United States Department of Agriculture in December 2021, the total per capita consumption of red meat and poultry surged from 224.1 pounds in 2020 to a projected 226.9 pounds by 2023. Additionally, the Food and Agriculture Organization forecasts a 15% surge in global meat consumption by 2031, with poultry, pork, beef, and sheep meat availability anticipated to rise by 16%, 17%, 8%, and 16%, respectively. Hence, the escalating meat product consumption is anticipated to propel the cultivated meat market forward, expected to witness substantial growth by 2028.
Get A Free Sample Of The Global Cultivated Meat Market ReportGlobal Cultivated Meat Market Segments
The cultivated meat market covered in this report is segmented –
1) By Type: Red Meat, Poultry, Seafood
2) By Sources: Poultry, Beef, Seafood, Pork, Duck
3) By End-User: Nuggets, Burgers, Meatballs, Sausage, Hot dogs, Other End-Users
By Geography:The regions covered in the cultivated meat market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
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
Major Cultivated Meat Industry Players
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, José Batista Sobrinho, Agronomics Limited, CULT Food Science Corp, Tyson Foods Inc., Cargill Incorporated, Neto Group, BioTech Foods, LabFarm Foods, BioNaturals, Balletic Foods, Cultured Decadence
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Cultivated Meat Market Overview
Cultivated meat, also known as cultured meat, refer to actual meat from animals produced in a lab by directly cultivating animal cells. Cultivated meat is created by harvesting cells from live animals which are grown in a bioreactor by feeding the cells with nutrients. The cultivated meat is used to satisfy the increasing demand for food by the growing human population.
Cultivated Meat Global Market Report 2023 provides data on the global cultivated meat market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The cultivated meat market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.