$229 Billion Cultured Meat Market Trends and Forecast Estimates, 2020-2023, 2024, 2035 and 2050 - ResearchAndMarkets.com

The "Cultured Meat Market: Industry Trends and Forecasted Estimates to 2050 - Distribution by Source of Meat, Type of Cultivation Technique, Form of Meat Produced, End Products Offered and Key Geographical Region" report has been added to ResearchAndMarkets.com's offering.

The global cultured meat market size is estimated to be worth USD 0.2 billion in 2024 and is expected to be worth USD 229 billion by 2050, growing at a CAGR of 30.8% during the forecast period, till 2050.

The new research study consists of industry trends, detailed market analysis, cultured meat providers landscape, partnerships and collaborations, funding and investments, patent analysis, market impact analysis, and market forecast and opportunity analysis. The growth in the market size over the next decade is likely to be the result of the anticipated increase in demand for protein alternatives.

One of the key objectives of this market report was to estimate the current market size, opportunity and the future growth potential for the cultured meat companies, over the forecast period.

In recent years, there has been a perpetual rise in the global population. According to recent estimates provided by United Nation's, the world population is projected to reach 9.8 billion by 2050. This demographic trend is accompanied by an increase in demand for food, particularly meat products. Meat is an important source of macronutrients and micronutrients, such as proteins, fats, carbohydrates, and vitamins that provide the ability to build and repair worn-out tissues as well as fulfill the energy requirements of the body.

Given its several perquisites, the demand for meat is increasing extensively, which has led to a three-fold increase in industrial meat production. However, the increased demand for meat cannot be solely met by conventional animal farming methods, necessitating the requirement of alternative approaches. Consequently, cultured meat, also known as cultivated meat, has emerged as a potent protein alternative solution catering to the heightened demand for protein amid the rising population.

The conventional approach of livestock farming employed to meet the global meat demand poses significant challenges, contributing to adverse environmental consequences such as increased greenhouse gas emissions, water scarcity and overburden on the land resources, thereby impeding sustainable resource management. It is worth highlighting that currently, approximately three quarters of agricultural land is estimated to be allocated for animal farming, thus leaving behind only a small portion of land for crop production. Additionally, almost 60% of greenhouse gas emissions from food production are attributed to meat production. Therefore, in order to mitigate these challenges, an increased interest towards cultured meat production has been observed.

The production process involves growing stem cells (isolated from living animals) in a bioreactor with the use of cell culture media. As such, cultured meat is also known as cell based meat or lab grown meat. Cultured meat has emerged as a promising alternative, capitalizing on several benefits associated with its production and consumption over traditional meat, including reduced environmental impact, owing to its minimal land and water requirements.

Moreover, there exists a discernible shift in consumer preferences towards alternative protein sources, driving the increasing acceptance and adoption of cultured meat products. Considering this shift, along with the surging demand for alternative proteins and positive environmental impact of cultured meat production, the global cultured meat market is poised to witness substantial market growth during the forecast period.

Overall artificial meat market, which comprises of cultivated meat as well as plant-based meats is gaining increased research interest; with significant rise in the patent activity in these areas.

Overall Competitive Landscape of Cultured Meat Companies: Majority of the Cultured Meat Providers are Based in North America

The market landscape features the presence of over 105 large, mid-sized and small companies. Over 65% of the companies were established between the period 2018-2021, demonstrating the rising interest of industry stakeholders in the cultured meat domain. Examples of companies established pre-2015 include Charoen Pokphand Foods and Nissin Foods.

Further, it is worth highlighting that 30% of the cultured meat providers are based in North America. Within Europe, the UK emerged as the hub of cultured meat companies. Furthermore, industry stakeholders are actively opting for emerging technologies to address challenges associated with scale-up, aiming to enhance efficiency and sustainability in the production process.

Key Drivers for Cultured Meat Market Growth: Surging Demand for Protein Alternatives

As the world population continues to grow, the demand for meat is also growing, surpassing what conventional method of animal farming can supply. In order to cater to this demand, transitioning to protein alternative like cultured meat is imperative. This shift is not only propelled by increased demand, but also by rise in the concerns over adverse environmental effects associated with traditional method of meat production. Additionally, as an outcome of rising ethical concerns among consumers, cultured meat presents a sustainable solution and a viable alternative that addresses concerns pertaining to both environmental impact and animal welfare. Consequently, the cultured meat industry is primed for significant growth.

Market Trend Analysis: Growing Interest in Cultured Meat Market is Evident from the Rise in Partnership and Collaboration Activity

Several stakeholders have been forging alliances with other industry / non-industry players in cultured meat industry for the development and manufacturing of cultured meat products. It is worth highlighting that, since 2022, more than 280 partnerships have been inked in the industry. Further, stakeholders are actively acquiring other companies specializing in the manufacturing of various cultured meat components, in order to expand their existing capabilities and consolidate their product portfolio. In this context, in May 2022, JBS acquired bio.Tech.Foods. in order to attain access to the company's protein production technology for the product development purposes.

Market Trend Analysis: Upward Trend in Funding and Investments for Cultured Meat

Several stakeholders in the cultured meat domain have raised funds in order to fuel the growth of their operations. It is noteworthy that cultured meat companies have raised a cumulative sum of more than USD 2.4 billion, since 2020. Further, maximum number of funding instances were reported to be seed funding (33%), followed by venture capital funds (32%). It is worth highlighting that, in December 2021, Believer Meats(formerly known as Future Meat Technologies Ltd.) raised USD 347 million in a Series B round, led by ADM, S2G Ventures, and Menora Mivtachim pension and insurance fund, recording the largest investment in cultured meat industry.

Market Trend Analysis: Surge in the Number of Patent Applications Related to Cultured Meat

In the past five years, over 360 patents focused on cultured meat have been granted / filed, indicating the substantial efforts made by researchers in this market. It is worth highlighting that majority of the patents (88%) in this domain were patent applications (not having received approval yet), followed by granted patents (10%). Further, most of the patents have been filed by industry players in this industry.

Cultured Meat Market Size: Poultry and Pork to Hold the Largest Market Share

The global market for cultured meat is currently estimated to be worth $0.2 billion. Owing to the increase in the investments in cultured meat domain, the market growth is expected to increase at a CAGR of 50.2% during the forecast period, till 2050. It is worth highlighting that, in terms of source of meat, poultry and pork is expected to capture majority of the cultured meat market share during the forecast period. This can be attributed to the fact that these sources of meat are exceptionally rich in providing nutritional benefits, accounting for its popularity among consumers.

Regional Analysis: North America and Asia-Pacific as the Hub of Cultured Meat Providers; Europe to be the Fastest Growing Market

Presently, North America and Asia-Pacific capture more than 95% of the overall cultured meat market size. In fact, in recent years, preference of cultured meat in North America has witnessed a tremendous increase owing to the approvals from regulatory authorities such as the US Food and Drug Administration (FDA), attesting to the food safety standards of cultured meat products. It is worth highlighting that, in the coming years, owing to the anticipated increase in the establishment of cultured meat production facilities in Europe and various technological advancements for production of cultured meat products, the market in this region is expected to grow at a higher CAGR as compared to other regions.

Key Players in Cultured Meat Market

Examples of key cultured meat providers (which have also been profiled in this market report; the complete list of companies is available in the full report) include Aleph Farms, Esco Aster, GOOD Meat, Mosa Meat, UPSIDE Foods, Vow, Ants Innovate, Blue Ridge Bantham, BLUU, Finless Foods, Meatiply, MIRAI FOODS, Newform Foods, Ohayo Valley, Steakholder Foods and The Better Butchers. (Full list of 109 companies captured is available in the market landscape analysis of the report). This market report includes an easily searchable excel database of all the cultured meat providers.

For more information about this report visit https://www.researchandmarkets.com/r/2k0pyu

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