DUBLIN, March 29, 2024 /PRNewswire/ — The “Cultured Meat Market – A Global and Regional Analysis, 2024-2033” report has been added to ResearchAndMarkets.com’s offering.
The cultured meat market, which is expected to be valued at $1,154.8 million in 2024, is anticipated to undergo substantial expansion, reaching an estimated $3,810.6 million by 2033, supported by a robust CAGR of 14.19% from 2024 to 2033
Cultivated meat is anticipated to offer various advantages compared to traditional animal agriculture due to its more efficient production process. Preliminary life cycle assessments suggest that cultivated meat requires significantly fewer resources and has the potential to mitigate pollution and eutrophication associated with agriculture.
According to a study, cultivated meat produced with renewable energy could decrease greenhouse gas emissions by up to 92% and reduce land use by up to 90% compared to conventional beef production. Moreover, the commercial production of cultivated meat is expected to be antibiotic-free, potentially resulting in fewer foodborne illnesses due to a reduced risk of exposure to enteric pathogens.
The cultured meat market represents a groundbreaking shift in the food industry by introducing a novel method of meat production. Cultured meat, also known as lab-grown or cell-based meat, is created by cultivating animal cells in a controlled environment, eliminating the need for traditional livestock farming. This innovation aims to address sustainability, ethical, and environmental concerns associated with conventional meat production. As consumer awareness of these issues grows, the market is witnessing increased interest and investments. Although still in its early stages, the cultured meat market holds significant potential to reshape the future of sustainable and ethical protein consumption.
Cultured meat production significantly reduces the environmental footprint associated with traditional agriculture, mitigating issues such as deforestation, land use, and greenhouse gas emissions. By eliminating the need for large-scale animal farming, cultured meat addresses ethical concerns related to animal welfare, reducing the reliance on industrialized animal slaughter. The controlled environment of cultured meat production requires fewer resources such as land, water, and feed, contributing to greater resource efficiency compared to conventional meat production.
The cultured meat sector drives innovation in biotechnology and food science, fostering advancements in cell culture techniques, bioengineering, and tissue engineering, with potential spillover effects into other scientific domains. The emergence of cultured meat necessitates the development of regulatory frameworks. Governments and regulatory bodies are navigating uncharted territory to ensure safety, labeling, and compliance standards.
North America has been playing a key role in driving innovation and regulatory progress in the global cultured meat market. A crucial moment occurred in 2022 when the Food and Drug Administration (FDA) gave the green light for GOOD Meat and UPSIDE Foods to sell cell-cultivated chicken commercially. In June 2023, the United States Department of Agriculture (USDA) issued landmark grants of inspection, marking the first regulatory approval for companies to produce and label their products as “cell-cultivated chicken” in the U.S. With over 94 companies involved in the global cultured meat market, around 40 operating in the U.S., showcased a strong commitment to industry growth backed by significant investments of approximately $14 billion from 2010 to 2022.
Despite challenges such as scaling production and achieving taste parity with traditional meat, North America’s proactive approach is evident in ongoing research funding, with the National Science Foundation (NSF) and USDA National Institute of Food and Agriculture (NIFA) collectively providing around $17 million in grants for cell-cultivated meat projects over the past decade. This strategic approach, along with successful market introductions and a progressive regulatory framework, cements North America’s position as a trailblazer, shaping the cultured meat industry globally.
The key players operating in the cultured meat market include Mosa Meat, UPSIDE Foods, Aleph Farms, Mission Barns, Air Protein, BlueNalu, Meatable, SuperMeat, GOOD Meat, Finless Foods, CUBIQ FOODS, Believer Meats, Redefine Meat Ltd., Vow Group Pty Ltd, and Shiok Meats Pte Ltd, among others. These companies are focusing on strategic partnerships, collaborations, and product launches to enhance their product offerings and expand their market presence.
Food Service and Fast Food Chains to Dominate the Cultured Meat Market (by Distribution Channel)
The food service and fast food chains segment is expected to undergo a transformative shift, with companies such as Believer Meats and UPSIDE Foods at the forefront of cultured meat innovation. Believer Meats, based in Israel, secured $347 million in its Series B round in 2021, leveraging non-genetically modified organism (GMO) technology to achieve higher-density cell cultures efficiently. Meanwhile, UPSIDE Foods, having received FDA approval for its cultivated chicken, is scaling up operations with a pilot facility in the U.S. and plans for a commercial-scale facility, embodying a significant paradigm shift in sustainable and ethical protein production.
In December 2022, Believer Meats announced a $123.35 million investment in North Carolina, establishing a cutting-edge facility with proprietary bioreactors for high-density cell production. With a mission to make its products globally preferred through affordability, approachability, and availability, Believer Meats is strategically entering the food service sector first, emphasizing taste, competitive pricing, and convenience to drive widespread adoption of cultured meat.
Poultry to Dominate the Cultured Meat Market (by Product Type)
The poultry segment is expected to witness a significant shift toward prominence, and companies such as Eat Just and Future Meat are at the forefront of this transformation. Eat Just has made notable strides with its chicken product, available in Singapore, consisting of over 70% cultured cells and minimal addition of plant protein for structural integrity. This exemplifies a successful fusion of advanced cellular agriculture techniques with plant-based elements, contributing to both sustainability and consumer acceptance.
Similarly, Future Meat in Israel has adopted a strategic approach, utilizing a combination of cultivated fat and plant protein in its cultured poultry products. These innovative methods showcase a commitment to creating environment-friendly and health-conscious alternatives and positioning poultry-based cultured meats as a dominating force in the future market landscape.
The success stories of Eat Just and Future Meat underscore a broader industry trend where companies are leveraging technological advancements to craft cultured poultry products that align with consumer preferences for both taste and sustainability. As these pioneers continue to refine their methodologies and expand their product offerings, the trajectory of the cultured meat market, especially in the poultry segment, appears poised for sustained growth and eventual market dominance.
Market Dynamics Overview
Market Drivers
- Increase in Demand for Alternative Protein
- Increase in Awareness Related to Animal Cruelty in Meat and Dairy Industry
- Increase in Investment and Funding of Lab-Grown Meat
Market Challenges
- High Production Cost
- Skepticism among Consumers
Market Opportunities
- High Per Capita Meat Consumption and Imports in Countries
- Growth in Approval Rates for Commercial Sales and Increase in New Product Launch
Markets Trends: Current and Future Impact Assessment
- Emergence of Cultured Meat
- Rise in Adoption of Vegan Lifestyle
- Emphasis on Environmental Sustainability
Supply Chain Overview
- Value Chain Analysis
- Market Map
Research and Development Review
- Patent Filing Trend (by Company, Country)
Regulatory Landscape
Key Market Players and Competition Synopsis
- Mosa Meat
- UPSIDE Foods
- Aleph Farms
- Mission Barns
- Air Protein
- BlueNalu
- Meatable
- SuperMeat
- GOOD Meat
- Finless Foods
- CUBIQ FOODS
- Believer Meats
- Redefine Meat Ltd.
- Vow Group Pty Ltd
- Shiok Meats Pte Ltd
For more information about this report visit https://www.researchandmarkets.com/r/kpqdzt
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