Cultured meat market is anticipated to grow at a considerable CAGR of 17.9% during the forecast period. The major factor driving the demand for cultured meat includes the rising consumption of meat coupled with the increasing demand for nutritional meat. Further, the growing funding for companies producing cultured meat and government initiatives to promote sustainable and nutritional food are some of the factors anticipated to fuel the demand for market growth.  For instance, in June 2022, Israeli food tech SuperMeat received a grant from the Israeli Innovation Authority to establish an open-source screening system to aid the cultivated meat industry. SuperMeat claims its new high throughput screening system for optimizing cultivated meat feed ingredients, which will accelerate the burgeoning cultivated industry towardcommercial viability. The fresh grant funds will support the open high-throughput screening system for cultivated meat feed ingredients, further significantly reducing the costs of expense in cultivated meat production.

Apart from this, in July 2020,a Cambridge-based startup Higher Steaks created the prototype of lab-grown bacon rashers and pork belly, using animal cells. The pork belly is about 50% cultivated meat, the bacon is around 70% of cultivated meat and the rest is plant-based. The company plans to push the product into market within next three to five years.

Segmental Outlook 

The global cultured meat market is segmented based on its source, and end use. Based on source, the market is segmented into poultry, beef, seafood, pork, and duck. Based on the end-use the market is categorized into household, and food services. Among the source segment, the pork sub-segment is anticipated to register significant growth for the forecast period.  while the poultry market is estimated to witness significant growth. 

Among the end-use segment, the food services sub-segment is anticipated to register significant growth in the forecast period. The growth of the food services sub-segment is attributed to the factors such as growing e-commerce,  supermarkets, and growing consumers’ interest in nutritious meat alternatives. For instance, in April 2022, the cultivated-meat company Upside Foods raised $400 million to move from R&D to commercialization. The firm expects chicken grown from animal cells to be its first product. Upside plans to build a production facility capable of making tens of millions of kilograms of cell-grown meat. It will also invest in making its supply chain for amino acids, sugars, and vitamins more robust.

Regional Outlooks

The global Cultured Meat market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America).  The market can be analyzed for a particular region or country level as per the requirement. Among these, the North American regional market is expected to cater to significant growth over the forecast period. However, the Asia-Pacific region is projected to experience prominent growth in the Cultured Meat market.

Global Cultured Meat Market Growth, by Region 2022-2028

The Asia-PacificRegion is ExpectedtoHolda Prominent Share ofthe Global Cultured Meat Market

Among these regions, the Asia-Pacific region is anticipated to account for the significant growthin market share for the forecast period. The growth of the cultured meat market in the region is primarily driven by factors including the presence of a growing economy with a large consumer base and rising disposable income in the region. Further, the growing investment in cultured meat companies is anticipated to fuel the demand for the cultured meat market in the region. For instance, in April 2022, a South Korean startup called CellMEAT, which develops cell-based shrimp, secured $8.1 million in Series A funding to compete with companies that produce alternative seafood. The new round of funding will assistCellMEAT to continue the R&D of its lab-grown shrimp, ramp up pilot production of its prototype shrimp to 10 Kg/ day from 5 Kgand expand its offerings to other cultivated seafood, including crustaceans such as lobsters and crabs.

Market Players Outlook

The major companies serving the global Cultured Meat market include Mosa Meat B.V., Upside Foods, Inc., Just, Inc., Integriculture Inc., Aleph Farms Ltd., Finless Foods Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance,in July 2022, SuperMeat, a food tech company, signed a Memorandum of Understanding (MOU) with Switzerland's based retail supermarket chain and meat manufacturer, Migros, to expedite the production and distribution of cultivated meat at a commercial scale. As part of the partnership, Migros invested in SuperMeat, indicating that the industry sees a strong interest among consumers in alternative proteins.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global Cultured Meat market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.