Cultured Meat Market size to exceed $12.7bn by 2030
Published Date: October 20, 2021 Authors: Kunal Ahuja, Sarita Bayas
Cultured Meat market size is anticipated to surpass USD 12.7 billion by 2030, according to a new research report by Global Market Insights Inc.
The rise in protein intake by consumers across the globe has led manufacturers to develop various meat alternatives. Although, significant population across the globe are moving toward plant-based diets; a major chunk of the population is still dependent on meat for food. Thus, rise in meat consumption, waste from slaughterhouses, and harmful emissions from the production of traditional meat will adversely impact the environment. Cultured meat is one of the preferred alternatives among these consumers, thereby supporting the market expansion.
Increasing consumer demand for farm-free fast food will stimulate market growth from sausages end-use segment
Global cultured meat market from sausages end-use segment is projected to register around 210% CAGR over the forecast period. The increasing consumer demand for farm-free fast food, such as sausages, along with the flavor of traditional meat will boost the cultured meat usage in sausages. Cultured meat, such as duck and pork meat, can be used for food processing to make sausages. The increasing development in food processing applications along with the consumer demand for guilt-free sausages will favor the cultured meat market acceptance across the globe.
Also, the sausages made from cultured meat are free from connective tissues, bone fragments, vascular tissues, or cartilages and provide the same taste as conventional meat. With the booming sausage sales and a strong demand for sausages, it is challenging to meet the rapidly rising demand through conventional meat owing to its high environment cost. Preferences toward cultured meat from animal cells without killing the animals and the hope of reducing waste, improving health, and eliminating animal suffering will boost the cultured meat acceptance and demand in the coming years.
Browse key industry insights spread across 270 pages with 356 market data tables and 39 figures & charts from the report, “Cultured Meat Market Statistics By Source (Beef, Poultry, Seafood, Pork, Duck), End-Use (Burgers, Nuggets, Meatballs, Sausages), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2030” in detail along with the table of contents:
Growing population and the economic development are rapidly increasing the demand for cultured meat from pork sourced
The cultured meat market from pork source segment is anticipated to witness a lucrative CAGR of around 220% from 2021 and 2030. The increasing consumer demand for healthy, ethical, better, and clean meat will drive the demand for cultured pork over the coming years. Pork meat produced from farming animals is unsustainable as it is inflicting pressure on resources, such as land and water, and increasing greenhouse emissions; therefore, cultured pork meat can be a sustainable option.
Eliminating the need to breed, raise, and slaughter will favor the cultured pork meat market size. The growing population and the economic development are rapidly increasing the demand for pork meat, resulting in a huge environmental expense. Therefore, a shift toward cultured pork to reduce the environmental impact is essential. Also, the emerging industries and efficient production of pork meat can be reduced by producing & consuming cultured pork. These factors are anticipated to boost the demand for cultured pork across the globe in the given timeline, creating opportunities for business expansion.
Asia Pacific market is gaining traction owing to Increasing investments by startups & laboratories in cell-based technology
Asia Pacific cultured meat market is poised to record more than 285% CAGR between 2021 and 2030. Economic development, globalization, and urbanization have led to more effluents with the change in the eating habits of the middle-class population. These factors are increasing the shift of the Asian population from vegetarianism to diets containing high amount of meat and dairy food products; therefore, to meet this increasing meat demand through a sustainable way, cultured meat will play an essential role and boost the acceptance among consumers. Increasing investments by startups & laboratories in cell-based technology will support product availability and demand in the Asia pacific region.
Cultured meat has a number of advantages, with the exception of cost, which manufacturers are attempting to address. Singapore is the only country in Asia Pacific to have approved the use of cultured chicken flesh in meals. This will encourage other countries in the region to develop as alternative meat producers as well. Additionally, an increase in demand for meat-processed food products, concerns about pathogen contamination risks in slaughterhouses, and the demand for clean meat are some of the factors expected to drive consumer acceptance and demand for cultured meat in the Asia Pacific region during the assessment period.
Rising consumer consciousness and reliance towards lab-grown meat has boost the industry demand across the globe. Key manufacturers across the global culture meat market are keenly engaged in several activities which includes research & development and partnership. Some of the key players operating in the market are Memphis Meats, Aleph Farms, BlueNalu, Future Meat Technologies, Meatable, Higher Streaks and others.