The global cultured meat market is estimated to be highly valued in upcoming years. The growth of this market is attributed to the startups that are entering the market, owing to the increasing number of investors, such as Cargill and Tyson Foods. 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.
The poultry segment is projected to account for the largest share in the cultured meat market. This is attributed to the growing popularity of poultry products in various quick-service restaurants (QSRs) has encouraged manufacturers to develop innovative alternative products to meet future demand from meat consumers. The cultured chicken products are expected to have a lower price as compared to other sources and gain wide popularity around the globe.
The nuggets segment accounted for the largest market size in the cultured meat market during the forecast period. The demand for nuggets is increasing significantly as an important processed meat product. Chicken continues to be the most popular meat product among the people in the US and the other North American countries. Nuggets is one of the primary forms, in which chicken meat products are consumed in various countries. Due to the increasing adoption of on-the-go lifestyle and consumption of snacking products, particularly in the US, consumers are looking for options that are convenient to eat anytime.
North America is projected to account for the largest market share during the forecast period. Rise in innovations and developments, and high spending for efficient R&D is expected to be the contributing factors in its largest share. Health concerns about the consumption of meat products, increase in investor interests in alternative proteins, and potentials to provide the required nutrition in tailor-made proteins are the major factors for the consumers to shift from conventional meat to cultured meat products. In the US and Canada, metropolitan areas are expected to lead the growth due to the higher number of flexitarians, with the openness and acceptance of meat substitutes and alternative proteins.
Key players in this market 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), among others
Key Questions Addressed by the Report
· What are the growth opportunities in the cultured meat market?
· What are the major sources of cultured meat?
· What are the key factors affecting market dynamics?
· What are some of the major challenges and restraints that the industry faces?
Which are the key players operating in the market and what initiatives have they undertaken over the past few years?
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Market Dynamics
3.1.1. Increasing Demand for Alternative Protein
3.1.2. Technological Advancements in Cellular Agriculture
3.1.3. Enhanced Food Safety
3.1.4. Investment By Key Industry Giants
3.1.5. Environmental Sustainability
3.1.6. Focus on Animal Welfare
3.1.7. Health Benefits
3.2.1. Stringent Regulatory Environment
3.2.2. High Setup Cost
3.2.3. Skepticism Among Consumer
3.2.4. Increased Demand for Plant-Based Protein
3.3.1. High Per Capita Meat Consumption and Imports in Emerging Southeast Asian Economies
4. Executive Summary
5. Cultured Meat Market, By Source
6. Cultured Meat Market, By End Use
6.5. Hot Dogs
7. Cultured Meat Market, By Region
7.1. North America
7.2.4. Rest of Europe
7.3. Asia Pacific
7.3.4. Rest of Asia Pacific
7.4. Middle East
7.4.3. Rest of ME
7.5. South America
7.5.2. Rest of South America
8. Company Profiles
8.1. Mosa Meat
8.2. Memphis Meats
8.4. Just, Inc.
8.5. Integriculture Inc.
8.6. Aleph Farms Ltd.
8.7. Finless Foods Inc.
8.8. Avant Meats Company Limited
8.9. Balletic Foods
8.10. Bluenalu, Inc.
8.11. Future Meat Technologies Ltd.
8.12. Appleton Meats
8.13. Higher Steaks
8.14. Biofood Systems LTD.
8.15. Fork & Goode
9. Conclusion and Recommendations
10.2. Related Reports