Growing concerns for animal welfare is anticipated to drive the Global Cultured Meat market growth.
The Global Cultured Meat Market was valued at USD 94.5 Mn in 2020, and is expected to reach USD 323.7 Mn by 2027, with a growing CAGR of 19.2% during the forecast period.
Rising meat consumption, increased demand for alternative proteins by food processors, a focus on environmental sustainability, and technical developments in cellular agriculture are likely to fuel the cultured meat market. Globally, the growing demand and supply imbalance for meat has prompted a focus on alternate meat sources. Increased investment in the worldwide cultured meat industry has come from the market's strong growth potential and expectation of high profit realisation. Thus, increased investments in research is anticipated to drive the cultured meat market growth. Much of the most advanced work in the ï¬eld is conducted within start-up companies. Another case in point is Upside Foods, a start-up based in the United States that has exhibited cultured commodities such as duck, meatballs, beef fajitas, and others. “Just” (previously Hampton Creek), a vegan mayonnaise company, launched cultured meat product in 2018, and since then published promotional video footage of cultured chicken nuggets. The emergence of new startups is anticipated to drive the cultured meat market growth. For instance, Mark Post's Maastricht group, developed the world's first cultured burger from primary bovine skeletal muscle cells and links. These factors are expected to drive the cultured meat market growth during the forecast period. Additionally, for several years, the Israeli company ‘Super Meats' has been working in collaboration with the Hebrew University of Jerusalem, and recent news reports indicate that three Israeli cultured meat manufacturers namely Meat the Future, SuperMeat, and Future Meat Technologies, are assigned & expected to close a USD 300 million trade deal signed between the two countries China and Israel. Thus, new deals, to grow businesses is poised to drive the cultured meat market growth.
However, Small-scale cultured meat products of edible quality should be conceivable in the near future, and in some ways are now possible. These are likely to be versions of cultured meat products seeking visceral equivalent to slaughters that may not be achieved if animal meat output is not decreased as cultured meat production rises. This factor, may negatively impact the cultured meat market growth.
Global Cultured meat Market by Region Outlook (Revenue, USD Million, 2021-2027)
In terms of geography, the Asia Pacific accounted for the largest market share during the forecast period. Developed countries such as Japan, Singapore are more focused on increasing the production for cultured meats. According to Livekindly, 2021, Mitsubishi is on the verge of introducing lab-grown meat to Japan which is into a partnership with Israel’s Aleph Farms. For instance, Yuki Hanyu, the Shojinmeat Project's director, tells Livekindly, the non-profit, community-led effort attempts to debunk the myths surrounding lab-grown beef in Japan. Currently, cell-based meat does not require clearance in Japan since no ‘novelty' is assumed,”. The Ministry of Health, Labour, and welfare in Japan has regulatory obstacles in place for marketing anything regarded as a "new food," which excludes cellular agriculture as long as it is produced in accordance with existing standards. The government is generally supporting this new industry and anything that increases Japan’s food self-sufficiency rate. Through governmental support for cultured meat production, the market is anticipated to increase on a positive note. Additionally, in 2020, Singapore approved lab grown meat as an emerging alternative worldwide. The SFA-approved product is, cultured chicken manufactured by East Just in the United States. The firm has stated that the product would be produced in collaboration with local partners under the new brand GOOD Meat.
The Global Cultured Meat Industry Segmentation:
Global Cultured meat Market by Type (Revenue, USD Million, 2021-2027)
Global Cultured meat Market by End-user (Revenue, USD Million, 2021-2027)
Key Findings:
Company Profiles and Competitive Intelligence
The key players operating in the market are:
Recent News:
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