The Global Cultured Meat Market to grow from USD 176.49 million in 2022 to USD 465.38 million by 2030, at a CAGR of 12.88%.

PUNE, MAHARASHTRA, INDIA , December 8, 2023 /EINPresswire.com/ -- The "Cultured Meat Market by Source (Beef, Chicken, Duck), Usage (Burgers, Hot Dogs, Meatballs), End User - Global Forecast 2023-2030" report has been added to 360iResearch.com's offering.

The Global Cultured Meat Market to grow from USD 176.49 million in 2022 to USD 465.38 million by 2030, at a CAGR of 12.88%.

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The cultured meat industry is a sector of the global food market that focuses on the production of animal-derived products through scientific and cell-culturing processes. Also known as lab-grown, synthesized, or in-vitro meat, these products offer an alternative to traditional meat product sources, especially in the context of sustainability and environmental conservation. Uniquely, cultured meat has the potential to significantly reduce environmental impacts associated with conventional livestock farming, paving the way for a more sustainable future in food production. The cultured meat market has several influencing growth factors, which include rising demand for alternative proteins globally and increasing emphasis on animal welfare and environmental awareness. Ongoing developments in the field of cellular agriculture support this upward growth of the market. However, the cultured meat market faces challenges and limitations, such as the high set-up costs of cultured meat production. Additionally, the market faces regulatory hurdles globally, as considerable variation exists in legal frameworks governing engineered food products. Public perception and acceptance of cultured meat as a viable alternative to conventionally sourced products also present a significant challenge, requiring extensive education and marketing efforts. On the other hand, potential opportunities within the cultured market are vast owing to increasing new product launches with diversity in meat types and growing government support for promoting environmental sustainability in meat production. As the market evolves, technological innovations in scaling production and reducing costs represent promising opportunities for companies.

End User: Growing usage of cultured meat in households as sustainable alternative to conventional meat
The growth potential of cultured meat within the hotel and restaurant sector is substantial. In a more health-conscious and sustainability-driven society, diners' preference for alternative proteins is rising. Manufacturers of cultured meat are revolutionizing the food industry with their innovative lab-grown meat products, offering a sustainable and ethical option to traditional meat sourcing. Cultured meat in households represents a rapidly growing market as consumers turn to eco-friendly and humane alternatives to conventional meat. The growing need for cultured meat in households centers around environmental consciousness, dietary restrictions, and ethical concerns. An increasing interest in home cooking and the adoption of plant-based diets are also contributors to the rise in this market; for hotels and restaurants, serving cultured meat positions them as innovative, eco-conscious, and receptive to the evolving dietary preferences of customers. An opportunity for premium pricing exists based on cultured meat's novelty and sustainable positioning. For households, cultured meat presents an ethical and sustainable alternative to conventional meat, catering to health-conscious consumers and those following specific dietary restrictions.

Source: Rising demand for cultured chicken among consumers
Laboratory-grown or cultured beef is proof of scientific advancements in creating slaughter-free meat. The primary consumers of cultured beef seek to lower their environmental impact and uphold animal rights without compromising their eating experience. Given the massive global consumption of chicken, producing lab-grown chicken meat has been a notable development in cultured meat technology. Consumers prefer it for its supposed lesser environmental impact and as a probable solution to antibiotic and bacterial issues in conventional poultry farming. Cultured duck meat is gaining traction, especially in areas where duck meat is a principal part of traditional cuisine. Deciding to choose it often stems from ethical reasons and health concerns. Cultured pork caters to a vast consumer base, especially in areas where religious customs dismiss conventional pork consumption. Beyond ethical and environmental reasons, it’s a new way to satisfy culinary preferences without attached restrictions. With the increasing concerns about overfishing and ocean health, lab-grown seafood has emerged as a viable alternative. Consumers prefer it as a sustainable solution to meet the growing demand for seafood. While each type has its unique consumer preference, cultured chicken and beef lead in demand due to their sizable share in global meat consumption.

Usage: Increasing adoption of cultured meat in hot dogs
The most prolific cultured meat products, plant-based and lab-grown cultured burgers, are revolutionizing the fast food and home cooking markets. These products cater to environmentally conscious customers who enjoy the rich flavors of traditional burgers but opt for options that reduce greenhouse gas emissions and land use. Hot Dogs, a staple of American barbecues, are witnessing an innovative transformation with the introduction of cultured meat as it significantly reduces antibiotics and harmful bacteria compared to traditional ones, promising safer and healthier alternatives for consumers. Meatballs made from cultured meat are another major consideration for manufacturers and consumers with fewer antibiotics and considerably lower carbon footprints. The nugget segment of cultured meat products, a particular favorite among children, is receiving attention from major manufacturers, evidencing a significant shift in consumer preferences. Sausages are another food product currently undergoing a potential transformation through cultured meat as it offers better taste and nutritional value than real ones, without the significant environmental and health downsides that the conventional meat industry.

Regional Insights:
The cultured meat industry in the United States has witnessed a significant shift, marked by a surge in consumer interest and investment. Manufacturers from the U.S. have been leading in novel research and securing critical patents. Canada's regulatory framework, headed by the Canadian Food Inspection Agency (CFIA) and Health Canada, provides a conducive environment for cultured meat companies. The regulatory bodies ensure that lab-grown meat products capitulate with the Food and Drugs Act and meet the requisite safety and quality parameters. The European Union has demonstrated a strong commitment to embracing sustainable and innovative food technologies, with cultured meat being considered a pioneer among them. In France, regulatory frameworks are being sculpted to steer the evolution of cultured meat. Paris, in particular, has emerged as a hub for alternative protein startups. The combination of favorable government policies and pioneering vendors has contributed to France's prominent position in the discourse on cultured meat. In the Middle East and Africa, cultured meat technology is yet to make substantial inroads. However, with ongoing initiatives aimed at improving food security and sustainability, the MEA region presents an untapped potential for growth and innovation in this sector. Additionally, consumers in the MEA region are showing an increasing openness to incorporating cultured meat products into their diets due to animal welfare and food security concerns. In APAC, India presents a unique scenario with a significant proportion of the population being vegetarian. However, with an intensified focus on protein inclusivity and environmental sustainability, cultured meat has gained traction amongst Indian consumers. Furthermore, in China, the government's drive towards food security and sustainability bolsters the emerging market for lab-grown meat. However, consumer acceptance of artificial meat remains a crucial challenge. Japan's demographic challenges with an aging population have accelerated the demand for healthier, sustainable food options. With a sophisticated technological infrastructure and strong government support, Japan has strengthened its cultured meat market position.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Cultured Meat Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Cultured Meat Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Cultured Meat Market, highlighting leading vendors and their innovative profiles. These include Aleph Farms, Avant Meats Company Limited, Believer Meats, BioFood Systems Ltd., BlueNalu, Inc., Bond Pet Foods, Inc., ClearMeat, CUBIQ FOODS S.L., CULT Food Science Corp, Eat Just Inc., Finless Foods, Inc., Future Meat Technologies Ltd., Heuros, Integri Culture Inc., JBS S.A., Meatable B.V., MeaTech 3D Ltd., Mosa Meat, New Age Eats, Orbillion Bio, Shiok Meats Pte Ltd, Steakholder Foods, Supermeat The Essence of Meat Ltd., Upside Foods, Inc., and WildType.

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Market Segmentation & Coverage:

This research report categorizes the Cultured Meat Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Source, market is studied across Beef, Chicken, Duck, Pork, and Seafood. The Chicken is projected to witness significant market share during forecast period.

Based on Usage, market is studied across Burgers, Hot Dogs, Meatballs, Nuggets, and Sausages. The Burgers is projected to witness significant market share during forecast period.

Based on End User, market is studied across Hotels & Restaurants and Households. The Households is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 38.74% in 2022, followed by Europe, Middle East & Africa.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Cultured Meat Market, by Source
7. Cultured Meat Market, by Usage
8. Cultured Meat Market, by End User
9. Americas Cultured Meat Market
10. Asia-Pacific Cultured Meat Market
11. Europe, Middle East & Africa Cultured Meat Market
12. Competitive Landscape
13. Competitive Portfolio
14. Appendix

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Cultured Meat Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Cultured Meat Market?
3. What is the competitive strategic window for opportunities in the Cultured Meat Market?
4. What are the technology trends and regulatory frameworks in the Cultured Meat Market?
5. What is the market share of the leading vendors in the Cultured Meat Market?
6. What modes and strategic moves are considered suitable for entering the Cultured Meat Market?

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Mr. Ketan Rohom
360iResearch
+1 530-264-8485
ketan@360iresearch.com

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