Market Research Future (MRFR) has published a Half cooked research report on the “Global Cultured Meat Market” that contains information from 2018 to 2032. The Cultured Meat market is estimated to register a CAGR of 51.90% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Cultured Meat market— Aleph Farms, Avant Meats Company Limited, Biftek INC, Mosa Meat, BlueNalu, Inc., BioFood Systems Ltd, WildType, New Age Eats, Shiok Meats Pte Ltd, SuperMeat, Meatable, Finless Foods, Inc., Fork & Good, Inc., Future Meat Technologies Ltd, UPSIDE Foods, and Mission Barns.
Cultured Meat Market Highlights
The global Cultured Meat market is accounted to register a CAGR of 51.90% during the forecast period and is estimated to reach USD 9.47 Billion by 2032.
The term "cultured meat market" describes the process of producing meat products using cell culture technology as opposed to the usual method of animal slaughter. It addresses ethical and environmental problems by providing a humane, sustainable substitute for conventional meat production. As technology develops and consumer demand for sustainable food options rises, the market is expanding quickly.
Segment Analysis
The global cultured meat market has been segmented based source, and end use.
On the basis of Source, the market is segmented into poultry, beef, seafood, pork, and duck. Poultry segment accounted for the largest revenue share in 2022. Chicken consumption has surged across North America during the past 50 years.
Based on end use, the global Cultured Meat market has been segmented into nuggets, burgers, meatballs, sausage, hot dogs, and others (pet food, and foie gras). Burgers segment dominated the global Cultured Meat market in 2022. The market for cultured burgers is anticipated to grow as a result of escalating customer desire for moral and environmentally friendly beef alternatives.
Regional Analysis
The global Cultured Meat market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Cultured Meat market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Cultured Meat market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Cultured Meat market comprises of Middle East, Africa, and Latin America.
The North America Cultured Meat Market dominated this market in 2022 (45.80%). The increase is being aided by both the growing customer demand for meat and poultry products produced responsibly and by the existence of significant businesses in the region. Several American companies, like Fork & Goode and BlueNalu, are steadily investing in cell-agriculture technologies to produce cultured meats in the region.
Moreover, in 2022, Europe's market for cultured meat held a sizable market share. The expansion of the regional market is being fueled by the rise in investments in seafood made in laboratories. Additionally, favourable government initiatives in countries like the UK and France are promoting the growth of the cultured meat industry.
Additionally, from 2023 to 2032, the Asia Pacific Cultured Meat Market is anticipated to experience significant expansion. Due to factors including regionally rising disposable income and steady meat consumption, the industry is growing. According to the Food and Agricultural Organisation (FAO), the Asia Pacific region's per capita beef consumption grew in 2021.
Furthermore, the rest of the world's Cultured Meat market is divided into the Middle East, Africa, and Latin America. A sustainable and moral substitute for conventional meat production is offered by the cultured meat industry, which produces meat products using cell culture technology. Due to technical breakthroughs and rising customer demand for sustainable and animal-free food options, it is expanding quickly.
Key Findings of the Study
- The global Cultured Meat market is expected to reach USD 9.47 Billion by 2032, at a CAGR of 51.90% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to the market is expanding as a result of elements like regionally rising disposable income and consistent meat consumption.
- Based on end use, the burgers segment was attributed to holding the largest market in 2022.
- Aleph Farms, Avant Meats Company Limited, Biftek INC, Mosa Meat, BlueNalu, Inc., BioFood Systems Ltd, WildType, New Age Eats, Shiok Meats Pte Ltd, SuperMeat, Meatable, Finless Foods, Inc., Fork & Good, Inc., Future Meat Technologies Ltd, UPSIDE Foods, and Mission Barns.
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Companies Covered | 15 |
Pages | 128 |
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