Major players in the cultivated meat market are Aleph Farms Ltd., MosaMeat BV, SuperMeat Just Inc, Integriculture Inc., Finless Foods Inc., Avant Meats Company Limited, Higher Steaks, Biofood Systems LTD., Fork & Goode Inc., Mission Barns, Bluenalu Inc., Shiok Meats Pte Ltd., Memphis Meats, Appleton Meats, and Seafuture Sustainable Biotech.
The global cultivated meat market is expected to grow from $6.63 billion in 2022 to $7.87 billion in 2023 at a compound annual growth rate (CAGR) of 18.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cultivated meat market is expected to reach $14.77 billion in 2027 at a CAGR of 17%.
The cultivated meat market consists of sales of organ meats and cultivated animal meat .Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Cultivated meat, also known cultured meat, refer to actual meat from animals produced in a lab by directly cultivating animal cells.Cultivated meat is created by harvesting cells from live animals which is grown in a bioreactor by feeding the cells with nutrients.
The cultivated meat are used to satisfy the increasing demand for food by the growing human population.
North America was the largest region in the cultivated meat market in 2022. The regions covered in cultivated meat report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of cultivated meat are red meat, poultry, and seafood.Red meat is any meat derived from non-bird animals and is so named because it is red when uncooked.
It contains a lot of protein, iron, B vitamins, and minerals including zinc and phosphorus. The sources are poultry, beef, seafood, pork, and duck, that are used in a nuggets, burgers, meatballs, sausage, hot dogs, and others.
Increasing consumption of meat products is expected to propel the growth of the cultivated meat market going forward.Meat products are products that can be used as human food and are created entirely or partially from the meat or other parts of an animal’s carcass.
Cultivated meat has the potential to enhance meat consumption in a sustainable fashion by increasing the availability of food and potentially reducing world hunger.Cultivated meat uses fewer natural resources than conventional meat and does not require growing or butchering animals because supplied cells grow eternally.
Additionally, the rising trend of protein consumption has favored the increased consumption of meat products. For Instance, in December 2021, according to a report published by the United States Department of Agriculture, a US-based organization for farming, forestry, rural economic development, and food, total per capita consumption of red meat and poultry was 224.1 pounds in 2020 and is projected to increase to 226.9 pounds by 2023. Furthermore, according to the Food and Agriculture Organization (FAO), an Italy-based organization dedicated to improving nutrition and food security, global meat consumption is expected to increase by 15% by 2031 due to population growth, and protein availability from poultry, pork, beef, and sheep meat is expected to increase by 16%, 17%, 8%, and 16%, respectively, by 2031. Therefore, the increasing consumption of meat products will drive the cultivated meat market.
Technological advancements are a key trend gaining popularity in the cultivated meat market.Major companies operating in the cultivated meat market are involved in developing new and improved technology to sustain their position in the market.
For instance, in July 2022, Meatable BV, a Netherlands-based biotechnology business, announced its innovative pork sausages product.The company has been developing and perfecting its approach to produce grown meat utilizing opti-oxTM technology without ever requiring FBS (fetal bovine serum).
A single-cell sample obtained harmlessly from an animal is required to make actual meat with the same structure, texture, glossiness, and particular pork flavour. The product even produces the typical sizzle in the pan, just like traditional sausages, and grows in just a few weeks, with research estimating that cultured meat might reduce the environmental impact of the meat industry by up to 92%.
In April 2023, Archer-Daniels-Midland Company, a US-based food processing and commodities trading firm partnered with Believer Meats to explore new avenues for the development and marketing of cultured meat products.This cooperation will aid in the exploration of new ingredients and solutions to fuel the development of interesting goods to continue adding valued partners to satisfy expanding demand driven by persistent themes of food security and sustainability.
Believer Meats is an Israel-based biotechnology company that makes cultured meat from chicken cells.
The countries covered in the cultivated meat market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The cultivated meat market research report is one of a series of new reports that provides cultivated meat market statistics, including cultivated meat industry global market size, regional shares, competitors with a cultivated meat market share, detailed cultivated meat market segments, market trends and opportunities, and any further data you may need to thrive in the cultivated meat industry. This cultivated meat market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.