Cultured Meat Market Share a Global Perspective on Growth and Development 2024 – 2031
Kings Research™ presents this information in its report titled, “Cultured Meat Market Share, Size & Industry Analysis, By Source (Poultry, Beef, Pork, Seafood, Others), By End-Use (Nuggets, Burgers, Meatballs & Sausages, Others) and Regional Analysis, 2024-2031"
Cultured Meat Market Share was forecast to be USD 3.5 million in 2023. It is expected to increase at a compound annual growth rate (CAGR) of 97.89% from 2024 to 2031, reaching USD 811.4 million.
Market Overview
Cultured meat, also known as lab-grown or cell-based meat, represents a groundbreaking innovation in the food industry, offering a sustainable alternative to traditional meat production. Derived from animal cells, cultured meat is produced in controlled environments, eliminating the need for livestock farming, which has significant environmental and ethical implications. The increasing awareness of these benefits is driving consumer demand and encouraging investments in this nascent industry.
Browse Full Report Details @ https://www.kingsresearch.com/cultured-meat-market-715
List of Key Companies in Cultured Meat Market
- Aleph Farms
- Believer Meats
- BlueNalu
- Eat Just, Inc.
- Finless Foods, Inc.
- Meatable
- Mosa Meat
- SuperMeat
- UPSIDE Foods
- Wildtype
Key Market Drivers
Several factors are propelling the growth of the cultured meat market. Rising concerns about environmental sustainability and animal welfare are at the forefront. Traditional meat production is associated with high greenhouse gas emissions, deforestation, and excessive water use, prompting consumers and companies to seek more sustainable options. Cultured meat offers a solution by drastically reducing the environmental footprint of meat production.
Additionally, advancements in biotechnology and cellular agriculture are making it possible to produce cultured meat at scale. These technological innovations are enhancing the taste, texture, and nutritional profile of cultured meat, making it increasingly indistinguishable from conventional meat. As a result, consumer acceptance is growing, further fueling market expansion.
Market Segmentation
The global cultured meat market is segmented by source, end-use, and region.
- By Source: The market is categorized into poultry, beef, pork, seafood, and others. Poultry leads the market, with a valuation of USD 1.3 million in 2023, driven by consumer demand for healthier and more sustainable protein sources.
- By End-Use: The market is divided into nuggets, burgers, meatballs & sausages, and others. Nuggets dominate the segment, holding the largest revenue share of 37.89% in 2023, owing to their familiarity and wide consumer appeal.
Regional Insights
Regionally, North America holds a dominant share of 54.29% in 2023, with a valuation of USD 1.9 million. This leadership is attributed to a strong consumer base with increasing awareness of and demand for cultured meat products. The region's favorable regulatory environment and supportive government initiatives further bolster market growth.
In contrast, the Asia-Pacific region is poised for the most rapid growth, with a projected CAGR of 97.89% during the forecast period. This growth is driven by the expanding middle-class population, increasing purchasing power, and significant technological advancements. The region's supportive government policies and investments in infrastructure are also key contributors to market expansion.
Competitive Landscapes:
The cultured meat market is moderately consolidated, with key players such as Aleph Farms, Believer Meats, BlueNalu, Eat Just, Inc., and others leading the charge. These companies are actively engaged in partnerships, mergers and acquisitions, and product innovations to expand their market presence.
Notable developments include Meatable's recent inauguration of a 3300-square-meter facility at the Bio Science Park in Leiden, Netherlands. This expansion is part of the company's strategy to enhance its cultivated pork production, supported by a $35M Series B funding. Similarly, BlueNalu has entered into strategic partnerships with major seafood industry leaders in the Asia-Pacific region to support the launch of cell-cultured seafood.
Future Outlook:
The cultured meat market is set for rapid growth as technological advancements continue to drive down production costs and improve product quality. As consumer acceptance increases and regulatory frameworks evolve, the market is expected to witness widespread adoption. The potential for cultured meat to address global challenges such as food security, environmental sustainability, and animal welfare makes it a critical area of focus for the future of food.
Contact Us:
Kings Research
Website: https://www.kingsresearch.com
E-mail: [email protected]
Phone: (+1) 888 328 2189
Comments
0 comment