Cultured Meat Market

Cultured Meat Market Outlook for (2023 to 2033)

The cultured meat market size, particularly in the poultry product category, has witnessed remarkable growth over the past years. In 2022, the market was valued at US$ 2.1 billion. In 2023, the market has already grown to US$ 2.3 billion, showcasing positive momentum. The forecast for 2033 is even more promising, with an estimated sales revenue of US$ 8.2 billion, reflecting a notable CAGR of 13.5% from 2023 to 2033.

Consumption Analysis of the Cultured Meat Market

• Consumers are increasingly attracted to cultured meat due to its lower environmental footprint, including reduced greenhouse gas emissions and land usage.
• Health-conscious consumers embrace cultured meat as a healthier alternative to conventional meat, with lower saturated fats and the potential for custom nutrition profiles.
• The development of cultured meat with flavors and textures matching traditional meat products is enhancing its appeal among consumers.
• Consumers concerned about animal welfare choose cultured meat as a more humane option.
• Cultured meat aligns with the preferences of individuals following plant-based diets, offering a sustainable source of protein.

Historical Performance and Future Growth of Cultured Meat Market

The cultured meat industry has witnessed significant transformations in recent years, driven by a shifting landscape of consumer preferences, environmental concerns, and advancements in technology. The historic period, from 2018 to 2022, marked a substantial increase in consumer awareness and acceptance of alternative meat sources. This has laid the foundation for further market expansion. This section delves into the cultured meat market's historical performance and future growth prospects, providing valuable insights into its trajectory.

Short-term Analysis of Cultured Meat Market from 2018 to 2022

The period from 2018 to 2022 marked a pivotal stage in the global cultured meat market. The market saw significant growth and reached US$ 2.1 billion by the end of 2022.

During this short-term phase, consumers embraced cultured meat as a viable alternative to traditional meat products. Concerns over the environmental impact of conventional meat production and ethical considerations regarding animal welfare played a crucial role in driving acceptance.

Biotechnology and cellular agriculture advancements allowed for more efficient and cost-effective cultured meat production. This, in turn, led to a broader range of cultured meat products entering the market. Furthermore, regulatory bodies in various countries began to establish frameworks for the approval and sale of cultured meat products. These developments provided assurance to consumers regarding safety and quality.

Nandini Roy Choudhury

Principal Consultant

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Mid-term Analysis of Cultured Meat Market from 2023 to 2028

The mid-term analysis, covering the period from 2023 to 2028, anticipates substantial expansion in the cultured meat market which is estimated to grow from US$ 2.3 billion in 2023 to an impressive US$ 4.28 billion by 2028.

Cultured meat products are expected to gain widespread consumer adoption during this phase. Demand is set to soar as more consumers are becoming aware of the environmental benefits and ethical considerations associated with cultured meat. The availability of cultured meat products is projected to increase significantly. More restaurants, grocery stores, and online food delivery platforms are likely to offer cultured meat options, making it easier for consumers to incorporate these products into their diets.

Growing concerns about sustainability and climate change are anticipated to drive consumers to choose cultured meat over conventional meat. The lower environmental footprint of cultured meat aligns with the preferences of eco-conscious consumers. Moreover, continued investment in research and development, process optimization, and innovations in cultured meat production will improve product quality and affordability, further fueling the meat starter culture market growth.

Long-term Analysis of Cultured Meat Market from 2028 to 2033

The long-term perspective, spanning from 2028 to 2033, offers a promising outlook for the cultured meat market, with an estimated valuation of US$ 8.2 billion by 2033. Cultured meat or lab-grown meat market is anticipated to achieve widespread acceptance as a mainstream food choice. Consumers will view it as a sustainable and ethical alternative to conventional meat, contributing to its substantial market share.

The cultured meat market is expected to capture a significant share of the meat market as more consumers are shifting away from traditional meat sources. This transition is driven by a combination of taste, price, and environmental impact.

Continuous advancements in cellular agriculture and biotechnology will lead to even more efficient and cost-effective production methods. These improvements will help cultured meat maintain its competitiveness in the market. Furthermore, regulatory frameworks are expected to be supportive of cultured meat production, ensuring consistent product quality and safety for consumers.

Key Trends Influencing Cultured Meat Market

• Customized cultured meat products tailored to individual preferences and dietary needs are gaining traction, presenting a niche market opportunity.
• Companies are exploring hybrid meat products that blend cultured meat with plant-based ingredients, catering to diverse consumer tastes and sustainability concerns.
• Research into novel protein sources such as insects and microorganisms, extends the range of cultured meat options, diversifying the market.
• Companies are establishing localized cultured meat production facilities to reduce transportation emissions and meet regional demand efficiently.
• Implementing blockchain technology for supply chain transparency assures consumers of product quality and ethical sourcing.
• Advancements in cellular agriculture techniques enhance cultured meat production efficiency, reducing costs and environmental impacts.
• Collaborations with educational institutions and awareness campaigns are crucial in educating consumers and dispelling misconceptions about cultured meat.

Category-wise Insights

The section below focuses on the dynamics of the cultured meat industry and the dominating segment from each category. These insights shed light on the preferences and trends shaping cultured meat consumption's future. As the industry experiences transformative growth, these key categories and their impact become increasingly crucial for market participants and stakeholders.

Poultry Cultured Meat to Garner a Robust Market Share of 42.1% in 2023

The cultured meat industry is experiencing substantial growth as it pioneers innovative solutions to meet the global demand for meat products. Among the diverse product types in this industry, poultry has asserted itself as the dominant contender, commanding an impressive market share of around 42.1% in 2023.

Consumer acceptance stands out as a primary catalyst for the prominence of poultry in cultured meat. Poultry has long held a revered place in global diets, making it a natural choice for exploration within the cultured meat realm. Consumers readily embrace cultured poultry due to its inherent familiarity and its ability to seamlessly integrate into a wide array of culinary creations. As the industry advances, the continuous enhancement of cultured poultry products' taste, texture, and nutritional profiles ensures alignment with consumer expectations.

Furthermore, the burgeoning interest in sustainability and the environmental consequences of traditional poultry farming have fueled the surge in cultured poultry adoption. Conventional poultry farming is associated with substantial greenhouse gas emissions, land utilization, and water consumption. In sharp contrast, cultured poultry presents a more sustainable alternative, characterized by reduced resource requirements and a diminished carbon footprint.

Cultured Meat's Meteoric Rise in the Food Services Industry

The food services industry looms large as the dominant application type within the cultured meat industry, creating growth opportunities for meat packaging manufacturers. The food services industry commands a substantial share of 49% of the market. Restaurants, catering companies, and food service providers are increasingly incorporating cultured meat products into their offerings to cater to the evolving preferences of their discerning clientele. These establishments have astutely recognized the multifaceted benefits of offering meat alternatives that not only align with eco-conscious values but also cater to health-conscious and ethically-driven consumer choices.

The versatility of cultured meat stands as another compelling factor propelling its dominance in the food services industry. Cultured meat seamlessly integrates into an expansive spectrum of culinary creations, spanning from classic burgers and sandwiches to gourmet entrees. This adaptability empowers chefs and food service professionals to embark on a culinary journey of experimentation, satiating diverse palates and dietary preferences.

From the perspective of potential investors and companies in the market, it is imperative to dissect the cultured meat landscape on a country-specific level. This comprehensive analysis unravels the distinct market dynamics and regional trends that drive the cultured meat industry in key countries. The United States, a hotbed of innovation in poultry production, holds a commanding presence. Germany, renowned for its sustainability and commitment to quality, strongly emphasizes eco-consciousness in its cultured meat offerings. These regional factors underscore the diversified and nuanced landscape of the cultured meat market.

Country-wise Insights

The Rise of Cultured Poultry in the United States

In the United States, the cultured meat market is poised for significant growth, holding a substantial value share of about 24.6% in 2023. The United States has a well-established culture of meat consumption, with a preference for poultry and beef. As cultured poultry gains traction due to its eco-friendliness and ethical appeal, it aligns with the evolving consumer preferences for sustainable food choices.

Moreover, the United States has been at the forefront of technological advancements in cultured meat production. The presence of key industry players, robust research and development initiatives, and favorable regulatory support have contributed to the market's expansion. Consumers in the United States are increasingly open to trying innovative food products, further driving the acceptance of cultured meat.

Sustainability and Quality Standards Drive Cultured Meat Adoption in Germany

Germany holds a value share of 8.4% in the cultured meat market in 2023. The country has a strong tradition of meat consumption, particularly pork and poultry. However, Germany's commitment to sustainability and environmental awareness has led to the growing acceptance of cultured meat.

Germany's food industry is known for its rigorous quality standards and commitment to food safety. This reputation translates into a heightened focus on the safety and quality of cultured meat products, which resonates with German consumers. The presence of innovative startups and research institutions dedicated to cultured meat further fosters its development in the region.

Cultured Seafood Meets Health-Conscious Dining in Japan

Japan holds a value share of 4.1% in the cultured meat market in 2023. The country's cuisine has a rich tradition of incorporating various meat types, including seafood. Cultured seafood, in particular, aligns with Japanese culinary preferences, presenting a significant opportunity. Moreover, Japan's aging population has prompted a growing focus on health and nutrition. Cultured meat's potential to offer healthier and more controlled nutritional profiles is appealing to health-conscious consumers. The country's robust food regulations and emphasis on product safety create a favorable environment for cultured meat market growth.

Cultured Meat and the Quest for Sustainable Aussie Cuisine

Australia, with a value share of 2.4% in the cultured meat market in 2023, exhibits distinctive factors influencing its market dynamics. The country is known for producing high-quality meat, particularly beef and lamb. However, the Australian market is also attuned to environmental concerns and sustainable practices.

Cultured meat's ability to reduce the environmental impact of traditional livestock farming resonates with environmentally conscious consumers in Australia. The country's diverse culinary landscape also provides opportunities for introducing cultured meat in various dishes. Collaborations between startups and local chefs contribute to the market's expansion.

Cultured Meat's Crucial Role in China's Food Security and Sustainability Agenda

China is likely to grab a value share of 13.2% in the cultured meat market in 2023. The country's massive population and increasing urbanization have led to rising meat consumption. However, concerns about food safety, animal welfare, and environmental sustainability are also growing.

Cultured meat aligns with China's goals of achieving food security, reducing environmental impact, and ensuring food safety. The Chinese government's support for technological innovation and sustainable agriculture further propels the cultured meat industry. Additionally, the emergence of local cultured meat startups and collaborations with established food companies contribute to China's significant market share.

Competitive Landscape in the Cultured Meat Industry

The cultured meat market is a fiercely competitive arena, marked by a constellation of pioneering companies vying for dominance. While numerous players have entered this space, a select few stand out as frontrunners, shaping the industry's future.

• Beyond Meat: Renowned for its plant-based meat alternatives, Beyond Meat has ventured into cultured meat, leveraging its expertise in delivering meat-like taste and texture without animal products. Its commitment to sustainability and ethical food choices bolsters its position.
• Impossible Foods: Another heavyweight in the meat substitute industry, Impossible Foods, is expanding into cultured meat production. Its signature product, the Impossible Burger, has already made waves, and the company's dedication to scientific innovation positions it as a key contender.
• Eat Just, Inc.: Formerly known as Hampton Creek, Eat Just is a pioneer in the field of cellular agriculture. It gained recognition for producing the world's first cell-based chicken nuggets. With substantial investments, it remains a frontrunner in cultured meat.
• Memphis Meats: Memphis Meats specializes in producing cultured meat directly from animal cells. Known for its high-quality beef and poultry products, the company has attracted substantial funding and is poised for growth.
• Aleph Farms: Aleph Farms is recognized for its focus on creating cultivated steaks with a genuine meaty texture. Its partnerships with culinary experts and commitment to taste and texture give it a competitive edge.
• Mosa Meat: As one of the earliest pioneers in cultured meat, Mosa Meat has a strong presence in the European market. Its achievement of B Corp certification underscores its commitment to ethical and sustainable practices.
• Cultured Decadence: This startup specializes in creating cell-cultured seafood, tapping into the market's demand for sustainable seafood options.
• BlueNalu: BlueNalu focuses on cultured seafood as well, with an emphasis on innovation in this segment.

These companies not only compete in terms of product quality but also in their ability to scale production, secure regulatory approvals, and win over consumers. The cultured meat market's competitive landscape continues to evolve as these industry leaders strive to revolutionize the way to perceive and consume meat.

Recent Developments in the Cultured Meat Industry

• The Cultivated B (TCB), a German bioengineering company, has unveiled a strategic partnership with denovoMATRIX, a biotech and biomaterials firm, to embark on an ambitious endeavor aimed at economically scaling up meat cultivation for commercial purposes. This collaboration signifies a significant step in advancing the cultured meat industry.
• In a groundbreaking move set to reshape the meat industry, the USA Department of Agriculture has granted approval for the sale of cell-cultured chicken. This milestone decision opens the door for consumers to explore this innovative culinary frontier heralded by the two pioneering startups that secured the initial approvals.
• Cult Food Science Corp., renowned for its investments, development, and commercialization of cellular agriculture technologies and products, is poised for expansion within its pet food division. This expansion is set to introduce three new consumer brands, all of which will feature cultivated ingredients. Collaborating with the company's portfolio firms, this strategic move positions Cult Food Science Corp. as a frontrunner in offering cultured meat options for pets in North America.
• Mosa Meat, headquartered in Maastricht, The Netherlands, proudly announced its achievement of B Corp certification. This notable distinction establishes Mosa Meat as the first cultured meat company worldwide to earn this esteemed recognition, reflecting its commitment to sustainability and responsible business practices.

Key Companies in the Market

• Memphis Meats
• JUST
• Aleph Farms
• Finless Foods
• Cultured Beef
• Future Meat Technologies
• Mosa Meat
• SuperMeat
• BlueNalu
• Meatable
• Cell-based Alchemy

Key Segments of the Cultured Meat Market

By Meat Type:

• Poultry
• Pork
• Beef
• Seafood
• Others

By Application:

• Food Services Industry
• Pet Food Industry
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa