Global Cultured Meat Market Size, Share, Opportunities, And Trends By Source (Beef, Duck, Pork, Poultry), By End-User (Burgers, Hot Dogs, Meatballs, Nuggets, Sausages, Others), And By Geography - Forecasts From 2023 To 2028
- Published : Mar 2023
- Report Code : KSI061614533
- Pages : 140
A kind of fake meat, cultured meat is made using cellular agriculture and tissue engineering techniques. As meat is the primary source of several nutrients, including the B-complex vitamins (thiamin, riboflavin, niacin, vitamin B6, and vitamin B12), humans have historically relied on it to satisfy their nutritional needs. Cultured meat is actual meat that has the same nutrients as regular meat or occasionally even more, but unlike traditional meat, it doesn't involve killing an animal. Scientists employ animal stem cells, sometimes referred to as "building block cells," to produce lab-grown meat.
An international movement towards sustainable food systems is being sparked by the expanding technical developments in the field of alternative proteins. As the world's population and environmental impact continue to rise, there is an increasing need to find meat alternatives and other proteins. One of the reasons for the global expansion of the cultured meat business is the growing focus on guaranteeing the meat supply and environmental sustainability.
In wealthy nations like the U.S., more public investment in cellular agriculture will open up prospects for the demand for farm-raised beef to rise. The licensing and commercialization of cultivated meat will be significantly impacted by the backing of regulatory agencies and governments in some countries to encourage investment and money into the industry of cultured meat. The outlook of the meat business and the method meat is produced are expected to undergo significant change as a result of several factors, including money raised by influential players, rising meat demand, the introduction of novel products, and environmental protection awareness.
Increased nutritious meat consumption to upsurge the market.
Throughout the forecast period, market growth is anticipated to be driven by rising meat consumption and rising demand for nutrient-dense meat. Consumers are refocusing on eating a diet that is more nutrient-dense, supports a more environmentally friendly way of life, and relies less on animal protein.
Several meat processors and food businesses are anticipated to have the option to transition to alternative animal proteins as a result of increased protein intake. Meat is cultured to satisfy customer demand. Nonetheless, obtaining enough protein each day and maintaining the flavor of meat products are crucial considerations when adopting animal-based meat replacements. This offers the cultured meat industry good possibilities.
Research and development in the cultured meat market to influence the growth of the market.
The potential benefit for in vitro research is primarily supported by advancements in cell culture. The market expansion in the cultured meat industry is being fueled by an enormous increase in R&D spending over the past several years. The development of cultured meat from animal cells using new methods is expected to accelerate market expansion. Another factor that is anticipated to speed up the expansion of the global cultured meat market is the increased manufacture of various processed meat products made from meat cultivated in vitro from muscle tissue. One of the key market drivers is the rise in the number of people who have allergies to proteins derived from animals. Additionally, it is projected that rising environmental and animal welfare consciousness would promote market expansion.
North America is projected to be the prominent market shareholder in the cultured meat market globally and is anticipated to continue throughout the forecast period.
The market for cultured meat is expected to be dominated by North America. The rise is being supported by rising consumer demand for ethically produced meat and poultry products as well as the presence of important firms in the area. To produce cultured meats in the area, several US businesses, like Fork & Goode and BlueNalu, are progressively investing in cell-agriculture technology.
The demand for items made from cultured poultry is also being fueled by the region's supportive government rules for cultured meat. The manufacturing of chicken and meat products created from cultured cells of poultry and cattle will be regulated by the Food and Drug Administration (FDA) and the U.S. Department of Agriculture (USDA).
The fastest CAGR is anticipated in Asia Pacific. The market is expanding as a result of elements including regionally increased disposable income and constant meat consumption. The Food and Agriculture Organization (FAO) reports that the Asia Pacific area had an increase in beef consumption per person.
Market Key Developments
- In January 2022, A food technology business specializing in cultured meat, Memphis Meats or Upside Foods, received funding from Tyson Foods. With the proper financing, Upside Foods is expected to hasten the expansion of its products.
- In December 2021, Future Meat, a startup Israeli business that produces cultured meat, secured US$ 347 million in funding. ADM and Manta Ray Ventures co-led the funding. Getting US certification for its cell-based chicken while also aiming to develop a sizable manufacturing plant there was the main concern.
- In September 2021, To open the door for the distribution of cell-based goods in Europe, BlueNalu, an American seafood cell culture firm, and Nomad Foods, a UK frozen fish company, collaborated on a project.
- By Source
- By End-User
- Hot dogs
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. GLOBAL CULTURED MEAT MARKET, BY SOURCE
6. GLOBAL CULTURED MEAT MARKET, BY END-USER
6.3. HOT DOGS
7. GLOBAL CULTURED MEAT MARKET, BY GEOGRAPHY
7.2. North America
7.2.1. United States
7.3. South America
7.4.1. United Kingdom
7.5. The Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.4. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. Aleph Farms
9.2. Finless Foods Inc
9.3. Future Meat Technologies Ltd
9.4. Just, Inc.
9.5. Integriculture Inc
9.6. UPSIDE Foods
9.7. Mosa Meat
9.8. Wild Earth Inc.
9.9. Modern Meadow
Future Meat Technologies Ltd
Memphis Meats, Inc
Wild Earth Inc.
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