Global Cultured Meat Market By Source (Poultry, Seafood, and Red Meat), By End Use (Nuggets, Burgers, Meatballs, Sausages, Hotdogs, and Other End-Uses), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

In 2022, the global Cultured Meat Market was valued at USD 182 million. Between 2023 and 2032, this market is estimated to register the highest CAGR of 23.2%. It is expected to reach USD 1388 million by 2032.

The rising technical developments in substitute proteins are driving the evolution towards ecological food systems globally. The meat alternatives and substitute proteins are achieving global consideration with the rising requirement to overcome meat shortage against the environmental impact and rising population.

The growing awareness of ecological sustainability and growing focus on securing meat supply are amongst the factors accountable for the growth of the cultured meat market globally.

Key Takeaways

1. Market Growth Projection: The global Cultured Meat Market, valued at USD 182 million in 2022, is projected to experience the highest Compound Annual Growth Rate (CAGR) of 23.2% between 2023 and 2032, reaching an estimated value of USD 1,388 million by 2032.
2. Driving Factors for Cultured Meat Growth: Environmental Awareness Growing concerns about environmental impact and animal exploitation due to traditional meat production are driving consumers towards sustainable and eco-friendly food options, including cultured meat. Investments in technical advancements and research in cultured meat are expected to propel market growth, making cultured meat more accessible and affordable.
3. Challenges and Restraints: Limited Availability Cultured meat is not yet produced on a large scale and is primarily available in restaurants and specialty stores, posing a challenge for market expansion. The high costs associated with cultured meat production and strict regulations in various countries are limiting market growth. Consumers may perceive traditional slaughtered meat as superior to lab-grown alternatives, impacting their willingness to try cultured meat.
4. Source Analysis: Poultry Dominance Poultry accounted for over 39% of the market share in 2022, with chicken consumption on the rise, particularly in North America. Red Meat Growth Red meat, particularly pork, is expected to register the fastest-growing CAGR, driven by increased investments and experiments with cultivated meat produced from pig cells.
5. End-Use Segmentation: Burgers Lead The burgers segment held the largest market share at 43%, driven by rising consumer preference for ethical and sustainable meat alternatives, such as cultured meat burgers. Nuggets Popularity Nuggets are a favored choice due to their convenience, and the increasing trend of consuming ready-to-eat food products has led to the growing use of cultured meat in the nugget segment.
6. Opportunities: Growing Urbanization and Income The growth of urbanization and rising per capita income are significant drivers of increased meat consumption. Cultured meat is seen as a sustainable alternative that requires fewer resources and has a lower environmental impact.
7. Trends: Technological Advancements Rapid population growth has spurred the need for technological advancements in the cultured meat industry, leading to a greater variety of cultured meat products on the market.
8. Regional Analysis: North America accounted for over 38% of the global cultured meat market in 2022, with strong demand for eco-friendly meat and significant investments in cell-agriculture technology. The Asia Pacific region is expected to experience the fastest-growing CAGR, supported by rising disposable income, steady meat consumption, and government initiatives.
9. Key Market Players: Prominent companies in the cultured meat industry include Aleph Farms, SuperMeat, Fork & Good Inc., Mosa Meat, BioFood Systems Ltd, Tyson Foods Inc., and more.

Drivers

Consumers’ Increasing Awareness of the Environment and Animal Exploitation to Fuel the Market Growth

The rising concern about animal exploitation due to meat production has a major impact on how consumers think about meat consumption. As consumers’ awareness of environmentally defendable increases due to the upsurge in demand for meat, it will become a significant factor in encouraging the global cultured meats market during the forecast period.

The trend of investments in numerous industries due to the expansion of technical culture is anticipated to be another driving factor to encourage the growth of this market during the forecast period. The first lab-grown hamburgers were costly, but shortly the researchers developed cheap artificial meat that tasted good. It is expected to generate significant growth in this market during the forecast period.

Cultured meat is considered a solution to the problems of industrial farming. This form of meat can eliminate various ecological problems and develop animals’ welfare. This is a key factor that is expected to propel the market during the forecast period as consumers’ preferences turn to ecologically pleasant products that promise animal welfare.

Improved meat demand and consumption of nutritious meat are expected to support market growth during the forecast period. Artificial poultry is a main factor that will propel the market growth.

Restraints

Consumers Notice that Slaughtered Meat is Better than the Meat Developed in the Laboratory

The global cultured meat market is not yet produced on a large scale and is primarily available in restaurants and specialty stores. This will be the key challenge for manufacturers to focus on the growth of the global cultured meat market during the forecast period.

High investment costs are also the most significant challenge to restraining the development of the global cultured meat market. There are many strict rules and regulations on cultured meat production in all countries. Cultured meat is a very fresh concept, and most people are unaware of it.

In addition, consumers notice that the meat slaughtered is better than the meat developed in the laboratory. This can also be the restraining why consumers fear trying cultured meat instead of traditional or slaughtered meat, which is available in the market.

Source Analysis

Increased Investments in Cellular Agriculture Technologies to Propel the Poultry Segment Growth

Based on the source, poultry dominated the market share by over 39% in 2022. Chicken consumption has grown in North America during the forecast period. It is the most consumed meat in the US, with over 6 billion chickens slaughtered for food every year.

Globally, more than 70 billion chickens are raised every year. The rise in the number of market entrants and startups investing in cellular agriculture technologies to develop a poultry-cultivated product is propelling the growth of the poultry segment.

Red meat is expected to register the fastest-growing CAGR during the forecast period. Pork is categorized as red meat by the United States Department of Agriculture (USDA), the most popular meat consumed globally.

The demand for a replacement for pork products was mainly fueled during the COVID-19 pandemic, which also featured the risks related to the whole meat industry and the weaknesses in food supply chains centered on animals. The development of the pork segments is also recognized by the rising startups and well-known companies in the sector for experimenting with cultivated meat produced from pig cells.

End-Use Analysis

Availability of Sustainable Meat Alternatives to Increase Demand for Cultured Meat Burgers

Based on end-use, the burgers segment conquered the market by 43% of the share. The cultured burgers segment is anticipated to increase demand for rising consumer preference for ethical and sustainable meat alternatives.

Cultured meat burgers can decrease the ecological impact on the meat industry. Various key players and startups are investigating cultivated meats, which is also anticipated to support the growth of the segment. For instance, in 2020, Mosa Meat, the manufacturer of the first introduced cultured meat hamburgers, later declared a joint firm with an animal nutrition company by Nutreco, which will deliver a nutrient-filled liquid to produce meat.

Most hotels and restaurants serve chicken products in the form of nuggets, due to the growing accessibility of eating meat and its low cost, as compared to the other chicken products. This leads to the increasing use of cultured meat in the nugget segment. The increasing trend of consuming ready-to-eat food products makes nuggets a favored choice by consumers. Significant fast food retailers such as supermarkets and KFC are similarly offering chicken nuggets, such as consumers’ desire to spend on ready-to-eat food products instead of cooking.

Key Market Segments

Based on Source

• Poultry
• Seafood
• Red Meat

Based on End-Use

• Nuggets
• Burgers
• Meatballs
• Sausages
• Hotdogs
• Other End-Uses

Opportunity

Growing Per Capita Income and Urbanization to Create Lucrative Opportunities

The growth of urbanization, followed by per capita income, is one of the most significant drivers of total meat consumption throughout the globe. The rising consumption of meat, nearly twice the quantity in developing nations, can have serious severe effects on the world’s climate.

Therefore, cultured meat is gaining popularity as a substitute for traditional meat. It requires less land, less energy, and less water than the traditional way, and it is also helping to adapt population growth while dropping food-based environmental impacts, including climate change.

Trends

Technological Advancements Helping to Create Varieties

The rapidly rising population has resulted in an upsurging requirement for technological advancements to satisfy the global protein demand during the forecast period. New technological advancements are helping to find various alternatives for meat. This is helping to increase the variety of cultured meat available in the market.

Regional Analysis

North America conquered the global cultured meat market with a share of over 38% in 2022. Improved demand for ecological meat and poultry products, united with the existence of significant players in the region, is supporting the growth. Multiple US-based industries, such as BlueNalu and Fork & Goode, are increasingly investing in cell-agriculture technology to harvest cultivated meat in the region.

Asia Pacific is anticipated to observe the fastest-growing CAGR during the forecast period. Factors such as rising disposable income and steady meat consumption in the region support the growth of the market. In 2021, according to the Food and Agricultural Organization (FAO), the Asia Pacific region observed a rise in beef consumption. In addition, the increase in investments in lab-grown seafood is propelling market growth. Encouraging government initiatives in countries like China and Singapore support the cultivated meat industry growth.

Key Regions and Countries Covered in this Report:

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe

• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

The market is considered by the existence of numerous emerging companies and startups. Companies have been executing numerous strategies such as the expansion of production facilities, merger & acquisition, new product launches, and investing in research and developments to gain a competitive advantage.

Market Key Players:

Listed below are some of the most prominent cultured meat industry players:

• Aleph Farms
• SuperMeat
• Fork & Good, Inc.
• Mosa Meat
• BioFood Systems Ltd
• Appleton Meats
• Tyson Foods Inc.
• RedFine Meat Ltd.
• Cubiq Foods
• Biftek INC
• Other Key Players

Recent Developments

• In March 2022, SuperMeat, which is an Israel-based food tech company whose cultured chicken has been defined as ‘identical from the animal form’ by a food expert, declared a strategic association with Ajinomoto, a Japanese food behemoth. Both companies intend to collaborate in order to improve and accelerate the development of farmed meat products. As part of the cooperation agreement, Ajinomoto will invest in SuperMeat, marking the company’s first venture into cellular agriculture.
• In June 2021, Tilray, Inc., which is a leading global cultured meat lifestyle and consumer packaged goods company, announced the launch of Symbios, a new medical brand in Canada that will complement the company’s existing medical brand portfolio. This new brand was created to provide a wider range of formats and unique cannabinoid ratios at a cheaper price point while also providing medical patients with a full range of goods for their health and wellness regimen, including flowers, oils, and pre-rolls.

Report Scope