The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The cultivated meat market has experienced remarkable growth in recent years and is set to expand even further in the coming decade. This growth is driven by various factors ranging from environmental concerns to technological advancements.

Recent Growth Trends

• Market Size Increase: The market size grew from $7.87 billion in 2023 to $9.31 billion in 2024, with a compound annual growth rate (CAGR) of 18.4%.
• Environmental Concerns: Increased awareness about the environmental impact of conventional meat production has boosted demand for sustainable alternatives.
• Health and Nutrition: Consumers are increasingly seeking healthier and more nutritious food options.
• Investment Influx: Significant investments have flowed into the cultivated meat sector, accelerating research and development.
• Consumer Acceptance: Growing acceptance of lab-grown meat among consumers is aiding market growth.
• Cost Reduction: Technological advancements have reduced production costs, making cultivated meat more accessible.
• Culinary Innovation: New and exciting meat products are attracting a broader consumer base.

Future Market Projections

• Continued Growth: The market is expected to grow to $17.18 billion by 2028, at a CAGR of 16.5%.
• Scale-Up Initiatives: Efforts to scale up production processes are essential to meet increasing demand.
• Market Expansion: Expanding into new geographical markets will drive further growth.
• Global Regulatory Frameworks: The establishment of regulatory frameworks worldwide will support market stability and growth.
• Competitive Landscape: An increasingly competitive market will drive innovation and efficiency.
• Nutritional Tailoring: Customizing nutritional profiles of cultivated meat products will cater to specific dietary needs.
• Marketing and Branding: Effective marketing strategies and strong branding will enhance consumer awareness and acceptance.

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Major Trends in the Forecast Period

• Technological Advancements: Innovations in production technology will enhance efficiency and product quality.
• Diverse Product Offerings: A wider range of meat products will cater to diverse consumer preferences.
• Investment and Funding: Continued investment will drive growth and development in the industry.
• Collaborations and Partnerships: Strategic partnerships will foster innovation and market expansion.
• Scaling Production: Increasing production capacity will be crucial to meet growing demand.

Driving Factors: Sustainability and Rising Protein Trends

• Sustainability: Cultivated meat uses fewer natural resources and reduces the need for animal farming, addressing environmental concerns.
• Rising Protein Consumption: The global trend towards higher protein intake supports the increased consumption of meat products.
• Population Growth: As the global population grows, the demand for sustainable food sources like cultivated meat will rise.
• Per Capita Meat Consumption: According to the USDA, per capita consumption of red meat and poultry in the U.S. was 224.1 pounds in 2020 and is projected to increase to 226.9 pounds by 2023.
• Global Meat Consumption: The FAO projects a 15% increase in global meat consumption by 2031.

Major Players in the Market

• Key Companies: Aleph Farms Ltd., MosaMeat BV, SuperMeat Just Inc., Integriculture Inc., Finless Foods Inc., Avant Meats Company Limited, and more.
• Collaborations: For instance, in April 2023, Archer-Daniels-Midland Company partnered with Believer Meats to develop and market cultured meat products.

Technological Innovations

• Sustainable Technology: Companies are developing new technologies to produce meat without traditional animal farming.
• Example: Meatable BV’s opti-ox technology produces pork sausages without using fetal bovine serum, reducing environmental impact by up to 92%.

Strategic Partnerships

• ADM and Believer Meats: Their partnership aims to explore new ingredients and solutions for cultured meat products, focusing on food security and sustainability.

Market Segmentation

• By Type: Red Meat, Poultry, Seafood
• By Sources: Poultry, Beef, Seafood, Pork, Duck
• By End-User: Nuggets, Burgers, Meatballs, Sausage, Hot dogs, Other End-Users

Regional Insights

• North America: This region was the largest market for cultivated meat in 2023, driven by strong consumer demand and technological advancements.

The cultivated meat market is poised for significant growth, driven by sustainability efforts, technological advancements, and increasing consumer demand for healthier and more ethical food options. With major players and strategic partnerships paving the way, the future of cultivated meat looks promising.

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The Cultivated Meat Global Market Report 2024  provides an overview of the cultivated meat market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The cultivated meat market forecast analyzes cultivated meat market size, cultivated meat market share, leading competitor and their market positions.

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