The "Global Cultured Meat Market Size, Segments, Outlook, and Revenue Forecast 2022-2030 by Source, End Products, Production Technique, End-User, Distribution Channel, and Major Regions" report has been added to ResearchAndMarkets.com's offering.
Global Cultured Meat Market is expected to record a positive CAGR of ~25% during the forecast period (2022-2030) and is expected to reach nearly US$ 2,000 million by 2030, owing to the increasing number of investments for research and development of cultured meat along with rising inclination towards environmental sustainability and animal welfare.
Growing consumers' preference for nutritional diets along with increasing innovation in cellular techniques to produce cultured meat are anticipated to propel the growth of the Global Cultured Meat Market during the forecast period.
The rising number of investments by big giants like Cargill, Tyson, and others in cultured meat and the increased focus of manufacturers on producing slaughter-free meat to fulfill consumers' demand for animal protein is likely to propel the growth of the Global Cultured Meat Market.
The global Cultured Meat Market faces challenges due to the high production cost and consumer skepticism towards lab-based meat products.
The production cost for cultured meat is comparatively higher than that of conventional meat as cultured meat requires a growth medium to stimulate cell growth, which adds to the cost of the production and may hinder the growth of the market. However, intensive research and development are going on to reduce the cost of production. In addition, cultured meat is a new concept in the market, and skepticism of consumers toward lab-based meat products is also expected to restrict the growth of the market.
The COVID-19 pandemic positively impacted the Cultured Meat Market owing to the increased demand for nutritional products including meat products. Moreover, consumers are shifting towards nutritional diets or protein-rich diets to lead a healthier lifestyle, which is expected to increase the demand for animal products including cultured meat. Lab-based meat gained more attraction among consumers during the pandemic to scale up the healthy diet, which has benefitted the growth of the Global Cultured Meat Market.
Recent Developments Related to Major Players
In June 2022, AVANTMEATS, a Hong Kong-based cultured meat manufacturer, raised US$ 10.8 million in a Series A funding round. Multiple companies invested in Series A funding round but S2G Venture, has invested US$ 5 million in AVANTMEATS. The company aimed to secure investment to support its research and development for its cell-cultured seafood.
In December 2021, Upside Foods, a manufacturer of cultivated meat, seafood, and poultry products, developed a breakthrough cell feed (also called media) that is completely animal component-free (ACF). This new development of media was the crucial step towards making cultivated meat cost-effective, delicious, and scalable along with protecting animal welfare and the environment.
In July 2021, Aleph Farms, a manufacturer of sustainable, cultivated meat products, gained US$ 105 million in funding in a Series B funding round. The funding round was led by DisruptAD, the largest venture platform in the Middle East, and the Growth Fund of L Catterton, a consumer-focused private equity firm. The company aimed to utilize the funds for large-scale global commercialization of cultured beef steaks and to expand the company's product portfolio.
The Global Cultured Meat Market is forecasted to continue exponential growth, primarily driven by the increasing number of investments to support the research and development of cultured meat products. Innovations in cellular agriculture and increasing focus to develop new techniques to produce culture meat that is cost-effective as well as efficient are likely to propel the growth of the market.
Moreover, the rising inclination towards environmental sustainability and animal welfare is anticipated to boost the demand for slaughter-free production of meat. Though the market is competitive with ~100 participants, regional players control the dominant market share.
Key Topics Covered in the Report
- Snapshot of the Global Cultured Meat Market
- Industry Value Chain and Ecosystem Analysis of the Cultured Meat Market
- Market size and Segmentation of the Global Cultured Meat Market
- Historic Growth of the Overall Global Cultured Meat Market and Segments
- Competition Scenario of the Cultured Meat Market and Key Developments of Competitors
- Porter's 5 Forces Analysis of the Global Cultured Meat Industry
- Overview, Product Offerings, and Strategic Developments of Key Competitors
- COVID-19 Impact on the Overall Global Cultured Meat Market
- Future Market Forecast and Growth Rates of the Global Cultured Meat Market and by Segments
- Market Size of Application/End-User Segments with historical CAGR and Future Forecasts
- Analysis of the Cultured Meat Market in Major Regions
- Major Production/Consumption Hubs in the Major Regions
- Major Production/Supply and Consumption/Demand Hubs in Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Cultured Meat Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Region
Major Companies Mentioned in the Report
- Aleph Farms
- BlueNalu, Inc
- Finless Foods Inc
- Future Meat
- Upside Foods
- Eat Just, Inc
- Integri Culture Inc
- Mission Barns
- Fork & Good, Inc
- Joes Future Food
- Ivyfarm technologies
Scope of the Report
By End Products
- Burger Patties
- Hot Dogs & Sausages
By Production Technique
- Scaffold-Based Technique
- Self-Organizing Technique
- Cell Culture Media
- Food Services Industry
- Processed Food
- Pet Food Industry
By Distribution Channel
- Specialty Stores
- Online Retail
- Other Retail Sectors
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, France, Spain, Italy)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Australia)
- LAMEA (Latin America, Middle East, Africa)
For more information about this report visit https://www.researchandmarkets.com/r/mconov