Global Cultured Meat Markets, 2023-2028 and Forecasts to 2034 with Mosa Meat, UPSIDE FOODS, JUST, Inc, Integriculture, and BioCraft Dominating

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Feb 21, 2024, 13:30 ET

DUBLIN, Feb. 21, 2024 /PRNewswire/ -- The "Cultured Meat Market by Source (Poultry, Beef, Seafood, Pork, Duck), End Use (Nuggets, Burgers, Meatballs, Sausages, Hot Dogs), and Region (North America, Europe, Asia Pacific, South America, Middle East & Africa) - Global Forecast to 2034" report has been added to ResearchAndMarkets.com's offering.

The cultured meat market projected to reach USD 0.2 billion in 2023 and USD 1.1 billion by 2034, at a CAGR of 16.5% from 2028 to 2034

The report provides comprehensive insights into market dynamics, encompassing drivers, limitations, challenges, and opportunities that influence the growth of the cultured meat market. Additionally, it offers a thorough analysis of key industry players, their business profiles, solutions, services, strategies, contracts, partnerships, agreements, new product launches, mergers, acquisitions, and recent developments in the cultured meat market. The report also includes a competitive analysis of emerging startups within the cultured meat market ecosystem.

The market for next five years since 2023 is projected to grow at 16.1%. Growing ethical concerns surrounding the treatment and slaughter of animals in conventional agriculture have become a driving force behind the quest for alternative food sources. Consumers are increasingly concerned by the inhumane conditions, overcrowding, use of antibiotics, and the often stressful lives of animals raised for food.

This awareness has led to a surge in demand for cruelty-free and more compassionate choices in the realm of food production. Cultured meat, also known as lab-grown or clean meat, presents a compelling solution as it offers the prospect of satisfying the world's appetite for meat while bypassing the need to raise and slaughter animals. This innovative approach resonates with consumers who seek products that align with their ethical values, creating a significant shift in the food industry and driving the advancement of alternative protein sources.

Prominent companies include Mosa Meat (Netherlands), UPSIDE FOODS (US), JUST, Inc. (US), and Integriculture Inc. (Japan), and BioCraft, Inc (US), among others.

Poultry in the by source segment is expected to be one of the fastest growing sub-segments in the market.

The poultry segment is positioned for the swiftest growth in the cultured meat market, primarily due to the substantial reduction in antibiotics and disease risk. In traditional poultry farming, the overuse of antibiotics to promote growth and combat diseases has raised concerns about antibiotic resistance and the transmission of these resistant strains to humans.

Cultured poultry, in contrast, can be produced in a controlled, sterile environment, significantly reducing the need for antibiotics. The absence of crowded and stressful conditions in poultry farms also mitigates the risk of diseases spreading among animals. This not only addresses pressing public health concerns but also appeals to consumers seeking safer, antibiotic-free meat options. As health and safety become paramount in food choices, the poultry segment in the cultured meat market is poised for rapid growth, driven by these critical factors.

The US is projected to have the largest share during the forecast period.

US is a global leader in technological innovation and research, which provides a strong foundation for advancing the cultured meat industry. The country boasts a robust biotechnology and cellular agriculture sector, supported by world-renowned research institutions and startups dedicated to developing cultured meat. Furthermore, the US has a sizable and diverse consumer base, including health-conscious individuals, environmentally-aware consumers, and those seeking ethical and sustainable food choices. This broad market appeal positions the U.S. as a prime location for cultured meat adoption.

The government's supportive stance and regulatory frameworks for alternative protein sources, along with substantial investment from both public and private sectors, are propelling the industry forward. Additionally, the US has a history of embracing food innovations, making it a fertile ground for cultured meat to gain traction. All of these factors collectively establish US as a dominant player in the cultured meat market, projected to hold the largest market share.

Premium Insights

Growing Health Concerns Related to Traditional Meat and Shortfall in Supply of Meat Products to Drive the Market Growth in Normal Scenario
North America Projected to Dominate the Market by 2034
Nuggets Segment to Dominate Market During Forecast Period
Poultry Segment Projected to Dominate Market by 2028
Canada Projected to be Fastest-Growing Country-Level Market for Cultured Meat in Normal Scenario

Market Dynamics

Macroeconomic Indicators
Cultured Meat to Be Resilient and Sustainable Protein Source
Crucial Role of Investment Trends in Cultured Meat Innovation

Drivers

Increasing Demand for Alternative Protein
Technological Advancements in Cellular Agriculture
Enhanced Food Safety
Investments by Key Industry Giants
Environmental Sustainability
Focus on Animal Welfare
Health Benefits Offered by Cultured Meat

Restraints

Stringent Regulatory Environment
High Setup Cost

Opportunities

High Per Capita Meat Consumption and Imports in Emerging Southeast Asian Economies

Challenges

Skepticism Among Consumers
Increased Demand for Plant-based Protein

Company Profiles

Major Players

Mosa Meat
Upside Foods
Eat Just, Inc.
Integriculture Inc.
Mewery
Biocraft, Inc.
Finless Foods, Inc.
Avant Meats
Bluenalu
Fork & Good
Mission Barns
Cubiq Foods
Ivy Farm Technologies Limited
Meatable

Startups/SMEs/Other Players

Biotech Foods
O Meat
Biobq
Pearlita Foods
Wildbio
Gourmey
Peace of Meat
Wild Type
Labfarm
Shiok Meats Pte Ltd.
Clearmeat
Eat Just, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/x8gzgy

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