Cultured Meat Market, By Type (Red Meat, Poultry and Seafood), By End User (Household and Food Services), By Region – Global Analysis Forecast Till 2030

The Global Cultured Meat Market size was estimated at USD 1.64 Million in 2021 and is expected to hit around USD 2790.1 Million by 2030, projected to grow at a CAGR of 96.1% during the forecast period 2022 to 2030.

Cultured meat, commonly referred to as in vitro meat, is a kind of fake meat that is created using cellular agriculture and tissue engineering techniques. Because meat is a good source of omega-3 fatty acids, vitamin B12, protein, and iron, humans have relied on it to meet their nutritional needs. Muscle cells from the animal are harvested and placed in culture media for growth and proliferation to produce the in vitro meat in a lab setting.

Market Dynamics

Drivers:

The global market for cultured meat is expanding due to the advantages linked with it, such as its low environmental effect, elimination of the need to raise animals, and reduction in public health hazards. One alternative protein source is cultured meat. The focus of consumers is now turning toward adopting a more nutrient-dense diet that emphasises a more sustainable way of living and relies less on animal proteins. Additionally, the main consumer base for alternative proteins is made up of people who are allergic to proteins derived from animals.

Thus, an increase in the population of these people fuels the market for cultured meat. The market for lab-grown meat is also anticipated to increase due to rising environmental consciousness and animal welfare issues.

Restraints:

On the contrary, the scientists are actively working to reduce production costs. The target year for accomplishing this goal has changed from 2020 to 2022 more recently. A lab-grown meat start-up called Future Meat Technologies is attempting to get the cost down to a commercial level. The first cell-based burger was introduced by Mosa Meat in 2013, and it costs about $400,000. It shows that although if production costs are currently high, they could go down in the future if creative cost-cutting techniques can be created to solve this issue.

Key players:

• Aleph farms ltd

• Cubiq foods s.L

• Eat just, inc

• Future meat technologies

• Meatable b.V

• Memphis meats

• Mission barns

• Mosa meat bv

• Redefine meat ltd

• Vow group pty ltd

Market Segmentation:

By Type

• Red Meat

• Poultry

• Seafood

By End User

• Household

• Food Services

By Region

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East & Africa (MEA)

Regional Analysis:

By having the biggest market share for cultured meat in 2021, North America is most likely to dominate the sector. Its highest proportion is anticipated to be driven by an increase in inventions and advances as well as substantial spending on effective R&D. The main reasons why customers are switching from conventional meat to cultured meat products are health concerns about the consumption of meat products, a surge in investor interest in alternative proteins, and the possibility of providing the necessary nutrition in custom-made proteins. Metropolitan areas are anticipated to experience the fastest increase in the US and Canada due to the higher proportion of flexitarians and their willingness and acceptance of meat alternatives.

Scope of the Report:

User

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