Global Lab-Grown Meat Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Poultry, Beef, Seafood, Pork, Duck, Plant-based Shrimp), By Application (Nuggets, Sausages, Burgers, Hot Dogs, Meatballs, Others), By End-user (Households, Restaurants And Hotels, Others), And By Geography - Forecasts From 2021 To 2026

The global lab-grown meat market is expected to grow at a compound annual growth rate of 33.75% over the forecast period to reach a market size of US$497.580 million in 2026, from US$116.937 million in 2021. Lab-Grown meat or Cultured Meat is produced by the in Vetro cell cultures of animal cells. Lab-Grown Meat utilizes various bio-engineered and tissue techniques in which animal cells, like cows, ducks, chickens, etc. are gathered and developed in an enhanced medium to produce cultured meat.

Market Trend

Lab-Grown Meat or cultured meat is clean meat that requires no animal slaughter. To promote zero animal cruelty, the lab-grown meat market can earn growth perspectives in the coming years. Besides that, lab-grown meat requires no growth hormones and does not cause any bacterial infection which is expected to positively affect its market in the future. Also, it reduces water and land usage significantly which can drive its market further. Another growth highlight for the lab-grown market can be increased health consciousness among the people which is driving the high protein diet among the people. Since meat contains a rich amount of proteins, the market for lab-grown meat can certainly benefit from that.

Besides providing several advantages, the high cost associated with this developing product is expected to hamper the market growth.

Growth Factors

• Environment-Friendly Meat:

Lately, meat consumption has become a major discussion where environmentalists, animal activists, vegetarians, and vegans stand against animal cruelty and animal slaughtering. According to World Economic Forum, more than 50 billion chickens are slaughtered for food every year and around 1.5 billion pigs are killed to serve the growing appetite for pork, bacon, etc.  Amongst these concerns, lab-grown meat has become a solution as it promotes zero animal slaughter and can be processed in labs using animal cells. Under the process, animal stem cells are fed amino acids and carbohydrates which helps them multiply and develop, and over time this lab-grown meat starts resembling the original meat.

Besides demoting animal cruelty, lab-grown meat does not emit any greenhouse gases, unlike livestock production systems that directly or indirectly involve the release of gases like methane, nitrous oxide, carbon dioxide, etc. This is expected to significantly contribute towards market growth in the future.  Also, less consumption of water, energy, and land associated with lab-grown meat will drive its market in the coming years.

• No Bacterial Infections:

Bacteria that cause infections like salmonella and E. coli live in the intestines of animals and the process of animal slaughtering and meat preparation at times can lead to contamination and increase the chances of bacteria spreading through the feces of these animals. E. coli infections can cause severe vomiting, stomach cramps, and diarrhea. Unlike traditional meat preparation, lab-grown meat does not produce any infection-causing bacteria and makes it perfectly healthy and safe to be consumed. This factor is expected to drive its market in the coming years.

Restraint

• High Cost of Lab-Grown Meat:

Currently, lab-grown meat is available at a very high rate in comparison to traditional meat and this is expected to hinder its market growth in the coming years. This is because the development of lab-grown meat is still in the initial stages and is not that popular in comparison to traditional meat. Although the cost has reduced significantly in comparison to what it was initially, it is still considered high and unaffordable by the general public.

Impact of COVID-19 Pandemic on the Global Lab-Grown Meat Market:

The outburst of the coronavirus pandemic affected the global lab-grown meat market negatively. With the shutting down of operations across the economies, the global supply and demand for lab-grown meat fell short. Also, taking into consideration the price of this meat, people focused on the necessities during the covid which hardly included the consumption of lab-grown meat.

Global Lab-Grown Meat Market Scope:

Segmentation:

• By Type
  • Poultry
  • Beef
  • Seafood
  • Pork
  • Duck
  • Plant-based Shrimp
• By Application
  • Nuggets
  • Sausages
  • Burgers
  • Hot Dogs
  • Meatballs
  • Others
• By End-user
  • Households
  • Restaurants and Hotels
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • México
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • U.K.
    • Germany
    • France
    • Others
  • Middle East and Africa
    •  UAE
    • South Africa
    • Israel
    • Saudi Arabia
    • Others
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • Taiwan
    • South Korea
    • Others

Frequently Asked Questions (FAQs)

Q1. What will be the lab-grown meat market size by 2026?
A1. The global lab-grown meat market is expected to reach a total market size of US$497.580 million in 2026.

Q2. What are the growth prospects for the lab-grown meat market?
A2. The lab-grown meat market is expected to grow at a CAGR of 33.75% during the forecast period.

Q3. What is the size of the global lab-grown meat market?
A3. Lab-Grown Meat Market was valued at US$116.937 million in 2021.

Q4. How is the global lab-grown meat market segmented?
A4. The lab-grown meat market has been segmented by type, application, end-user, and geography.

Q5. What factors are anticipated to drive the lab-grown meat market growth?
A5. To promote zero animal cruelty, the lab-grown meat market can earn growth perspectives in the coming years.