The latest report by IMARC Group, titled “Cultured Meat Market Report by Source (Poultry, Beef, Seafood, Pork, Duck), Application (Nuggets, Burgers, Meatballs, Sausages, Hot Dogs), End User (Household, Food Services), and Region 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on the cultured meat market forecast.
Cultured Meat Market Overview 2024-2032
The global cultured meat market size reached US$ 209.1 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 582.6 Million by 2032, exhibiting a growth rate (CAGR) of 11.8% during 2024-2032.
Cultured Meat Industry Trends and Drivers:
- Growing environmental concerns:
The global cultured meat market is being propelled by increasing environmental awareness, as traditional meat production is a major contributor to environmental degradation. Conventional livestock farming leads to significant greenhouse gas emissions, deforestation, water scarcity, and soil degradation. As consumers and governments recognize the environmental toll of traditional meat production, cultured meat offers a sustainable alternative. This lab-grown meat requires fewer resources, emits lower levels of carbon dioxide, and reduces the need for large areas of land, which would otherwise be used for animal grazing or feed crop cultivation. Additionally, cultured meat eliminates concerns about deforestation and biodiversity loss, making it an eco-friendlier choice for those seeking to reduce their carbon footprint.
- Rising demand for animal welfare-friendly products:
Another major factor fueling the global cultured meat market is the growing consumer preference for animal welfare-friendly food options. Public awareness regarding the ethical issues surrounding factory farming, such as animal cruelty and inhumane treatment, has increased in recent years. Industrial farming practices often involve overcrowded living conditions, unnatural diets, and the use of antibiotics to manage diseases, all of which raise concerns among ethically conscious consumers. Cultured meat provides an alternative that avoids the need to raise and slaughter animals, making it an attractive choice for individuals who prioritize animal welfare. The process of producing cultured meat involves harvesting cells from animals without causing harm, which is a significant selling point for the ethical consumer. As veganism and vegetarianism gain popularity due to ethical concerns, cultured meat appeals to a broader audience, including those who wish to reduce animal suffering while still enjoying meat-based diets.
- Increasing food security concerns:
The global cultured meat market is also being driven by concerns over food security, particularly as the global population continues to rise. Livestock farming requires large amounts of land, water, and feed, and the increasing scarcity of these resources, exacerbated by climate change, threatens food security in many regions. In contrast, cultured meat can be produced in controlled environments, using fewer natural resources, and without the reliance on favorable weather conditions, making it a more stable and reliable food source. This scalability and resource efficiency make cultured meat an important solution to address potential future food shortages. Governments and international organizations are becoming more interested in alternative protein sources, including cultured meat, to ensure long-term food security.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
- Aleph Farms
- BlueNalu Inc.
- Cubiq Foods S.L.
- Finless Foods Inc.
- Future Meat Technologies
- IntegriCulture Inc.
- Meatable, Mission Barns
- Mosa Meat
- New Age Meats
- Shiok Meats
- Upside Foods.
Cultured Meat Market Report Segmentation:
Breakup By Source:
- Poultry
- Beef
- Seafood
- Pork
- Duck
Poultry dominates the market due to its widespread global consumption, lower production costs, and consumer familiarity with chicken-based products.
Breakup By Application:
- Nuggets
- Burgers
- Meatballs
- Sausages
- Hot Dogs
Based on the application, the market has been divided into nuggets, burgers, meatballs, sausages, and hot dogs.
Breakup By End User:
- Household
- Food Services
Food services hold the maximum number of shares due to high demand from restaurants and catering services for innovative, sustainable protein options.
Breakup By Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific holds the leading position owing to a large market for cultured meat driven by its large population, rising demand for sustainable food sources, and strong investments in food technology.
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