The cultured meat market, especially within the poultry segment, has experienced significant growth in recent years. Valued at USD 2.1 billion in 2022, the market has expanded to USD 2.3 billion in 2023, demonstrating strong upward momentum. Looking ahead, the forecast for 2033 is even more optimistic, with projected sales revenue reaching USD 8.2 billion, indicating a robust compound annual growth rate (CAGR) of 13.5% from 2023 to 2033.
The cultured meat industry is undergoing significant expansion, largely fueled by rising awareness of environmental sustainability and the challenges associated with traditional livestock farming. Consumers are increasingly mindful of the environmental consequences of meat production, such as high greenhouse gas emissions, deforestation, and excessive water use. This heightened awareness is driving demand for alternative, eco-friendly protein sources. Cultured meat presents a promising solution, as it uses fewer resources and produces fewer emissions compared to conventional meat production.
Despite the promising potential of the cultured meat industry, it faces several challenges and constraints. A major issue is the high production costs involved in scaling up cultured meat production, which remains a significant barrier for many companies. Additionally, navigating regulatory approvals and gaining consumer acceptance are key obstacles. As a relatively new concept, cultured meat must undergo a lengthy and complex regulatory approval process in different countries. Furthermore, convincing consumers who are accustomed to traditional meat products and ensuring that cultured meat meets their taste and quality expectations are critical for the industry’s growth.
Despite the challenges, the cultured meat industry offers a wealth of opportunities. One of the most promising prospects is addressing the escalating global demand for protein. With the world’s population on the rise, traditional meat production methods may struggle to meet this growing demand. Cultured meat presents a sustainable and scalable solution that could transform the protein industry. Additionally, the increasing number of health-conscious and ethically-driven consumers creates a receptive market for cultured meat products. Companies that provide healthy, eco-friendly, and cruelty-free meat alternatives are well-positioned to gain a competitive advantage.
Key Takeaways from the Cultured Meat Market:
- Poultry cultured meat claims a substantial 42.1% market share in 2023.
- The food services industry dominates with a 49% market share in 2023.
- The United States commands a notable 24.6% value share in 2023.
- Germany secures an 8.4% value share of the cultured meat market in 2023.
- Japan holds a 4.1% value share in the cultured meat market for 2023.
- Australia captures a 2.4% value share in the cultured meat market for 2023.
- China commands a significant 13.2% value share in the cultured meat market for 2023.
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Recent Developments in the Cultured Meat Industry
- The Cultivated B (TCB), a German bioengineering company, has unveiled a strategic partnership with denovoMATRIX, a biotech and biomaterials firm, to embark on an ambitious endeavor aimed at economically scaling up meat cultivation for commercial purposes. This collaboration signifies a significant step in advancing the cultured meat industry.
- In a groundbreaking move set to reshape the meat industry, the USA Department of Agriculture has granted approval for the sale of cell-cultured chicken. This milestone decision opens the door for consumers to explore this innovative culinary frontier heralded by the two pioneering startups that secured the initial approvals.
- Cult Food Science Corp., renowned for its investments, development, and commercialization of cellular agriculture technologies and products, is poised for expansion within its pet food division. This expansion is set to introduce three new consumer brands, all of which will feature cultivated ingredients. Collaborating with the company’s portfolio firms, this strategic move positions Cult Food Science Corp. as a frontrunner in offering cultured meat options for pets in North America.
- Mosa Meat, headquartered in Maastricht, The Netherlands, proudly announced its achievement of B Corp certification. This notable distinction establishes Mosa Meat as the first cultured meat company worldwide to earn this esteemed recognition, reflecting its commitment to sustainability and responsible business practices.
Key Companies in the Market
- Memphis Meats
- JUST
- Aleph Farms
- Finless Foods
- Cultured Beef
- Future Meat Technologies
- Mosa Meat
- SuperMeat
- BlueNalu
- Meatable
- Cell-based Alchemy
Key Segments of the Cultured Meat Market
By Meat Type:
- Poultry
- Pork
- Beef
- Seafood
- Others
By Application:
- Food Services Industry
- Pet Food Industry
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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