The Cultured Meat Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Cultured Meat Global Market Report 2024, The cultured meat market size has grown rapidly in recent years. It will grow from $0.19 billion in 2023 to $0.23 billion in 2024 at a compound annual growth rate (CAGR) of 19.9%. The growth in the historic period can be attributed to sustainable food production, animal welfare concerns, resource efficiency, demand for protein alternatives, investments and funding.
The cultured meat market size is expected to see rapid growth in the next few years. It will grow to $0.46 billion in 2028 at a compound annual growth rate (CAGR) of 18.8%. The growth in the forecast period can be attributed to cost reduction strategies, global population growth, diversification of product offerings, and culinary integration. Major trends in the forecast period include technological advancements, investment and funding, diversity of cultured meat products, environmental and ethical considerations.
The increasing consumption of meat across the globe is contributing to the growth of the cultured meat market. Cultured meat is consumed as a healthy alternative to animal meat as it is less contaminated than animal meat. Around the world, people are eating more meat than before due to the increasing need for protein consumption and an increase in disposable income. According to the Organization for Economic Co-operation and Development – Food and Agriculture Organization (OECD-FAO) Agriculture outlook 2020-2029, the growth in global meat consumption is projected to increase by 12% between 2020 to 2029. Moreover, according to The World Counts report, global meat consumption is expected to reach between 460 and 570 million tons by 2050. Thus, increasing consumption of meat and meat products drives the market for cultured meat.
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The cultured meat market covered in this report is segmented –
1) By Type: Poultry, Beef, Seafood, Pork, Duck
2) By Application: Nuggets, Sausages, Burgers, Hot Dogs, Meatballs, Other Applications
3) By Distribution Channel: Hypermarkets, Food And Drink Specialty Stores, Convenience Stores, Online Retail, Other Distribution Channels
4) By End-User: Household, Food Services
Major companies operating in the cultured meat market are forming partnerships to develop new products and strengthen their positions in the market. Strategic partnerships in the cultured meat market facilitate accelerated innovation, enhanced distribution networks, and shared expertise, fostering the development and commercialization of sustainable and scalable cultivated meat products. For instance, in March 2021, Aleph Farms, an Israel-based cellular agriculture company, partnered with BRF S.A., a Brazil-based food processing company, to introduce lab-grown meat products in Brazil. Under this collaboration, Aleph Farms and BRF will co-develop and produce cultivated meat using Aleph’s patented BioFarm production platforms, aiming to distribute cultivated beef products in Brazil. This partnership reflects Aleph Farms’ strategy to integrate into existing ecosystems and accelerate the scale-up of cultivated meat, leveraging BRF’s expertise and infrastructure in one of the world’s largest beef-producing markets. The collaboration aligns with BRF’s 2030 Vision initiative to reduce environmental impact, emphasizing its commitment to innovation and sustainability in the food industry.
The cultured meat market report table of contents includes:
- Executive Summary
- Cultured Meat Market Characteristics
- Cultured Meat Market Trends And Strategies
- Cultured Meat Market – Macro Economic Scenario
- Global Cultured Meat Market Size and Growth
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- Global Cultured Meat Market Competitive Benchmarking
- Global Cultured Meat Market Competitive Dashboard
- Key Mergers And Acquisitions In Cultured Meat Market
- Cultured Meat Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Emergy Inc.
- Shiok Meats Pte. Ltd
- Because Animals Inc
- Lab Farm Foods Ltd.
- Biofood Systems Inc.
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