The cultured meat market size was valued at $1.64 million in 2021, and is estimated to reach $2,788.1 million by 2030, registering a CAGR of 95.8% from 2022 to 2030.
Cultured meat or in vitro meat offers a safe and disease-free way forward to meet increasing meat requirement without involving animal sacrifices and at the same time, reducing greenhouse emissions, as compared to conventional meat. Growing population, rising affluence and urbanization across the world is likely to increase the demand for meat. Conventional way of meat production is not feasible enough to cop up with rising demand for animal meat. Furthermore, Conventional meat production systems involving ruminant animals, are responsible for the emission of greenhouse gases (GHG), contributing about 37% of all the methane emission. Meat consumption also contributes to cardiovascular diseases and animal food-borne diseases. These disadvantages of the farming meat are likely to create the demand and interest for cultured meat. Growing concern about the animal welfare and allergic reaction due to consumption of conventional meat is likely to propel the growth of the cultured meat market during the forecast period. There are enormous benefits associated with the consumption and production of the cultured meat such as zero animal cruelty, Less antibiotic resistance, less deforestation, comparatively low usage of water, land and other resources.
However, lack of awareness and high cost of production are considerably expected to hinder the growth of the cultured meat market during the forecast period. Furthermore, availability of the alternative protein further hamper the growth of the global market.
The global cultured meat market is segmented into type, end user, and region. By type, it is categorized into red meat, poultry, and seafood. Depending on end user, it is fragmented into household and food services. Region wise, it is analyzed across North America (U.S. and Rest of North America), Europe (UK, Switzerland, Germany, Italy, Belgium, The Netherlands and Rest of Europe), Asia (Singapore, Japan, China and Rest of Asia), and rest of the world (Israel, UAE and Others).
The major players operating in the market are Aleph Farms Ltd., Cubiq Foods S.L., Future Meat Technologies, Meatable B.V., Memphis Meats , Mission Barns, Mosa Meat BV, Redefine Meat, and Vow Group Pty Ltd.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global cultured meat market, with current and future trends to elucidate the imminent investment pockets in the market.
- The report provides information regarding drivers, restraints, and opportunities with impact analysis.
- A quantitative analysis from 2019 to 2027 is provided to showcase the financial competency of the market.
- Porter’s five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
- Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
- Competitive intelligence highlights business practices followed by leading market players across various regions.
KEY MARKET SEGMENTS
- By Type
- ·Red Meat
- By End User
- ·Food Services
- By Region
- ·North America
? Rest of North America
? The Netherlands
? Rest of Europe
? Rest of Asia
- ·Rest of the world