Various other factors that are expected to drive the global cultured meat industry include innovations in cellular agriculture and the rising inclination toward animal welfare and environmental sustainability. Rising consumption of meat coupled with increasing demand for nutritional meat is expected to support the market growth during the forecast period. This growing trend of protein consumption is expected to present several opportunities for various meat processors and food companies to invest in alternative meat protein such as cultured meat to fulfill consumer demand.
Northrook, IL -- (SBWIRE) -- 12/01/2019 -- According to MarketsandMarkets, the global cultured meat market is estimated to be valued at USD 214 million in 2025 and is projected to reach USD 593 million by 2032, recording a CAGR of 15.7% from 2025 to 2032 in the normal scenario. Factors such as the rising consumption of meat coupled with increasing demand for nutritional meat is projected to drive the growth of the cultured meat industry during the forecast period.
By source, the poultry segment is accounted for the largest share in 2021
The poultry segment accounted for a significant share in the global cultured meat market, based on the source, in 2021 due to the high preference of chicken products in the nugget form in popular food chains such as KFC. The cultured chicken products are expected to have a lower price as compared to other sources and gain wide popularity around the globe. Moreover, the rising demand for chicken meat, owing to the rapidly growing urbanized population in developing countries, is expected to support the cultured meat market globally.
Leading players profiled in this report include:
- Memphis Meats (US)
- MosaMeat (Netherlands)
- SuperMeat (Israel)
- Just, Inc (US)
- Integriculture (Japan)
- Aleph Farms Ltd (Israel)
- Finless Foods Inc. (US)
- Avant Meats Company Limited (China)
- Balletic Foods (US)
- Future Meat Technologies Ltd (Israel)
- Appleton Meats (Canada)
- Higher Steaks (UK)
- Biofood Systems LTD (Israel)
- Fork & Goode (US)
- Meatable (Netherlands)
- Mission Barns (US)
- Bluenalu, Inc. (US)
- New Age Meats (US)
- Shiok Meats (Singapore)
- Seafuture Sustainable Biotech (Canada)
- Wild Type (US)
- Lab farm Foods (US)
- Cubiq Foods (Spain)
- Kiran Meats (US)
- Cell Farm FOOD Tech/Granjua Celular S.A (Argentina)
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By end-use, the nugget segment in the cultured meat market is projected to grow at the highest CAGR during the forecast period
Based on end-use, the cultured meat market is segmented into nuggets, burgers, meatballs, sausage, hot dogs, and others. Most of the restaurants and hotels serve chicken products in the form of nuggets, due to the increasing convenience of eating meat and its low cost, as compared to the other chicken products. This leads to the growing use of cultured meat in the nuggets segment. The rising trends of consuming on-the-go food products also make nuggets, a preferred choice for consumers. Key fast food retailers such as KFC and the supermarkets are also offering chicken nuggets, as consumers prefer spending on ready-to-eat food products instead of cooking.
North America is projected to be the fastest-growing cultured meat market, due to the high investment by various companies for the production of cultured meat
The cultured meat market in North America is driven majorly by the high economy, rise in innovations and developments, and high spending for efficient R&D related to the cultured meat. In the US and Canada, metropolitan areas are expected to lead the growth due to the higher number of flexitarians, with the openness toward and acceptance of meat substitutes and alternative proteins. The presence of key players such as JUST, Inc. and Memphis Meat, along with product innovations, is expected to drive the cultured meat market. Moreover, high consumer acceptance for cultured meat in the country is also supporting the demand for cultured meat.
The global cultured meat market is segmented region-wise, with a detailed analysis of each region. These regions include North America, Europe, Asia Pacific, South America, and the Middle East & Africa.