Cultured Meat Market

Cellular Agriculture combines biotechnology and food sciences to generate animal products such as eggs, dairy, and meat from animal cells rather than animals. Meat produced from cells extracted from living and healthy animals and grown in a controlled environment is referred to as cultured meat, cultivated meat, or lab-grown meat. 

The world population is expected to exceed 10 billion by 2050, tripling current meat consumption. Feeding this population with conventional meat is not environmentally sustainable because increased meat production necessitates more water and green land, as well as more greenhouse gas emissions. Cultured meat offers a sustainable solution for our future meat consumption owing to the benefits associated with it, such as no need to kill animals, low environmental impact, and usage of fewer resources as compared to conventional meat. 

Despite the fact that plant-based meat alternatives have been on the EU and US markets for a few years, cultured meat products are only available in Singapore following the historic regulatory approval of Eat Just's cultivated chicken. By the end of 2023, other regions are anticipated to follow suit

According to Biotech Forecasts, the global cultured meat market is estimated to reach USD 3.4 Billion by 2030, with an annual growth rate of 44.08% from 2022 to 2030.

The following factors are propelling market expansion: (1) Surging Investment in Cultured Meat: Venture capital investment increased year over year in the market. Cultured meat startups, for example, raised a record USD 1.3 billion in 2021, with Future Meat Technologies raising a massive USD 367 million. Furthermore, in April 2022, Upside Foods raised the industry's largest investment of $400 million. 

(2) Growing Support From Government: Governments across the globe are adopting a range of policies to support the cultured meat sector. For instance, the USDA awarded Tufts University a USD 10 million grant in 2021 to establish the National Institute for Cellular Agriculture. Furthermore, Mosa Meat and its partner Nutreco secured €2 million in funding from the React-EU program in 2021 to develop low-cost cell growth media. 

Other factors that fuel the market expansion include increased environmental concerns about conventional meat, rising concerns about animal welfare, and rising public awareness. However, the high cost associated with the process, as well as ethical and societal considerations, may stifle market expansion. 

The report also presents a detailed quantitative analysis of the current market trends and future estimations from 2022 to 2030. The forecasts cover 5 Technique Types, 4 Meat Types, 2 End Users, 4 Regions, and 17 Countries.

The report comes with an associated file covering quantitative data from all numeric forecasts presented in the report.

The report has the following key findings:

• The global cultured meat market accounted for $121.50 million in 2021 and is estimated to reach $3,250 million by 2030, registering a CAGR of 44.08% from 2022 to 2030.

• By Technique Type Cell Cultured Media segment has accounted for the highest market share in 2021, however, the 3D Bioprinting segment is expected to grow with the highest CAGR during the forecast period.

• Poultry was the largest contributor among the Meat type segments.

• Among the End User type, the Food Services segment is expected to continue its dominance throughout the forecast period.

• North America dominated the global cultured meat market in 2021 and is projected to continue its dominance in the future.

• In the Asia Pacific region, China, Japan, and Singapore are expected to grow at the highest CAGR during the forecast period. 

• In the LAMEA region, Israel dominates by the No. of companies registered and volume of investment. 

The report covers the following topics: 

• Market Drivers, Restraints, and Opportunities

• Key Developments in Cultured Meat Market

• Industry Investment Analysis

• Environmental Impact Analysis

• Porter's Five Forces Analysis

• 25 Company Profiles, and Key Strategies

• Market analysis and forecast from 2022 to 2030