Cultured meat is an artificial meat which is produced using tissue engineering techniques, that are traditionally used in regenerative medicines. Consumer preferences have shown a rising trend towards a more nutritious diet based on a more sustainable lifestyle and less reliance on animal proteins. Unlike conventional meat production, laboratory-grown meat takes less time and delivers the highest output, so that a single animal may feed the entire community. Thus, consumer preference, over nutrition based diets is anticipated to drive the cultured meat market growth. Additionally, the conventional livestock pipeline necessitates the depletion of energy and bioresources, as well as the deprivation of natural requirements such as feed, mobility, and space. Reproduction necessitates the investment of time and money. In comparison, this cultured meat has the benefit of being grown in bioreactors, which may be set up in a much lesser area, and the harvest can be completed quickly with all conceivable customizable components such as vitamins, proteins, minerals, and add-on nutrients. All these factors, are expected to increase the cultured meat market demand.
The Global Cultured Meat Market was valued at USD 94.5 Mn in 2020 is expected to reach USD 323.7 Mn by 2027, with a growing CAGR of 19.2 % during the forecast period (2020-2027).
Cultured meat is an artificial meat which is produced using tissue engineering techniques, that are traditionally used in regenerative medicines. Consumer preferences have shown a rising trend towards a more nutritious diet based on a more sustainable lifestyle and less reliance on animal proteins. Unlike conventional meat production, laboratory-grown meat takes less time and delivers the highest output, so that a single animal may feed the entire community. Thus, consumer preference, over nutrition based diets is anticipated to drive the cultured meat market growth. Additionally, the conventional livestock pipeline necessitates the depletion of energy and bioresources, as well as the deprivation of natural requirements such as feed, mobility, and space. Reproduction necessitates the investment of time and money. In comparison, this cultured meat has the benefit of being grown in bioreactors, which may be set up in a much lesser area, and the harvest can be completed quickly with all conceivable customizable components such as vitamins, proteins, minerals, and add-on nutrients. All these factors, are expected to increase the cultured meat market demand.
Moreover, those who are allergic to animal proteins constitute majorly towards the cultured meat market. As a result, a growth in the number of such people, serves as a major driver of the global cultured meat market. As red meat is a major source of greenhouse gas emissions, an increase in environmental consciousness is driving up demand for plant-based protein products. As a result, an increase in demand for alternative proteins is expected to encourage a shift in consumer preference from conventional meat to cultured meat. According to the Jeremy Coller Foundation, the USD 1.4 billion meat alternatives sector in the United States increased by 22% in 2017, and over 40% of Americans chose plant-based diets. The increasing demand for allergen free foods by the urban population in developing countries is expected to drive the cultures meat market growth. Increase in the health consciousness of consumers is expected to have positively impacted the cultured meat market. For instance, to follow a healthy lifestyle the consumer focuses on balanced proportions of carbs, proteins, fats. When it comes to the protein intake, clean protein intake with less fat can be achieved through the use of cultured meat. Furthermore, rising concerns for environment, and animal welfare, are expected to positively affect the market growth. Several NGO’s around the globe raise their voice for brutal animal killing and also to limit the production of broiler poultry, especially red meat, As it contributes more towards the production of -greenhouse gases, along with contribution to the climate change. For instance, in July 2021, PETA Asia investigators visited live-animal markets in China, Indonesia, and other countries in Asia-Pacific. Their new video footage depicted a virologist's nightmare, showcasing sick and stressed animals packed closely together in filthy cages. Thus, the support for animal rights by various NGO’s is intended to positively drive the demand for cultured meat market.
The Global Cultured Meat Industry Segmentation:
By Product Type
By End-Use
By Region
The unique insights provided by this report also includes the following:
Based on type, the red meat segment accounted for 90.33% share in the overall cultured meat market, as compared to sea food & poultry.
During the forecast period, cultured red meat is expected to acquire significant momentum in the worldwide cultured meat (lab-grown meat) market. This is mostly due to the popularity of traditional red meat among meat eaters. Red meat is one of the most popular types of meat in the world. Beef, for example, is an excellent source of zinc, which promotes cognitive function, fertility, and reproduction while also helping to maintain appropriate testosterone levels in the blood. Due to restricted red meat production, the supply–demand ratio has risen significantly. Therefore, restricted red meat production is anticipated to increase the demand for cultured meat market. This is due to the numerous benefits connected with red meat eating, the fact that it promotes muscular growth and bulk, offers important vitamins and minerals that promote excellent health and well-being, and helps to improve the immune system. All the factors mentioned above are anticipated to drive the cultured meat market growth.
Moreover, Poultry is regarded as one of the most cost-effective sources of protein, and as a result, poultry goods such as eggs and meat are continuously high in demand. Cultured poultry also includes chicken, duck, turkey gease, rock Cornish hens, guinea fowl, pheasant, and squab. Poultry meat is the most popular meat form as compared to other meat forms, and it has been gaining significant traction in the global meat industry. This has majorly attributed due to the increase in global population and rise in purchasing power. The demand for poultry is expected to drive the cultured meat market growth in the near future. For instance, according to the World Bank, the world's population is projected to reach 11.2 billion in 2100.
Based on the End-Use, the household services segment is expanding at a CAGR of 20.57% during the forecast period 2020-27
By end use, the cultured meat (lab-grown meat) market is bifurcated into household and food service. Food Services dominated the market in the year 2020 with a market share of 17.12%. The growth in fast food and ready-to-eat food product consumption is projected to enhance demand for cultured meat through the food services industry. Additionally, the growing urban population is expected to have a positive influence on the expansion of the cultured meat industry, since metropolitan individuals are more inclined to sample cultured meat than rural people, owing to higher disposable money and a hectic lifestyle. Moreover, the increase in the number of food delivery applications has resulted in an increase in the number of restaurants and hotels worldwide, which encourages the expansion of the food service business. The food service industry is expected to dominate the market in the years ahead, due to growing urbanisation, a rise in disposable income, and an increase in the habit of dining out.
Based on regions, the market for cultured meat in Asia-Pacific accounted for the largest share in 2020, followed by North America.
Based on regions, the global cultured meat (lab--grown meat) market has been segmented as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Developed nations such as Japan and Singapore are concentrating their efforts on boosting production of lab-grown meats. According to Livekindly, Mitsubishi is on the verge of delivering lab-grown beef to Japan in 2021, thanks to a collaboration with Israel's Aleph Farms. According to a Blue Horizon Corp. compilation research, the lab-grown meat business would be worth $140 billion by 2030. For example, Yuki Hanyu, the director of the Shojinmeat Project, tells “Livekindly”, the non-profit, community-led initiative seeks to dispel the misunderstandings about lab-grown beef in Japan.
Europe is also expected to significantly contribute towards the cultured meat market growth. Most of the European population suffers from cardiac illnesses, so thereby the use of cultured meat may reduce the risk of cardiac diseases, as saturated fatty acids in cultured meat products will be replaced with omega-3 fatty acids, Competition in the European cultured meat industry is fierce, since the market includes some of the most well-known cultured meat firms, including Biftek, Cubiq Foods, Higher Steaks, Meatable, and Mosa Meats.In the previous two years, these firms have raised a total of $30 million in financing. The presence of these prominent competitors in the area provides a profitable growth potential for the market throughout the projection period.
The market for cultured meat in North America is fiercely competitive. The industry has seen a growth in the number of companies joining the market in order to meet the anticipated demand for cultured meat meals. Upside Foods (Formerly Memphis Meats) and Mission Barns are two of the most important brands in the region. Meatballs, sandwiches, patties, pizza, burgers, sausages, and soups made from meat substitutes are becoming increasingly popular on the market.
Driversy
Restraints
Opportunitiese of Cultured Meats for wind blade composites
The impact of COVID-19 has greatly affected the market of the cultured meat industry. The momentum dropped globally, and regained pace as they were used in manufacturing industries which falls under the essential category.
The report also provides in-depth analysis of key trends in Cultured Meat market
| Sr. No. | Trends | Impact |
| 1 | High prices of cultured meat at the introduction stage is unfavorable to increase the demand, which hampers the growth of the market | Negative |
| 2 | Food businesses are heavily investing in start-ups associated with cultured meat and alternative meat | Positive |
The report also provides in-depth analysis of recent news developments and investments
The key players operating in the market are:
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.
Research Methodology
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