Cultured Meat Market size worth over USD 225 billion in 2050 | Roots Analysis
The cultured meat market is anticipated to be worth USD 0.2 billion in 2024 and this value is likely to reach over USD 225 billion by 2050.
Cultured meat is an upcoming segment of the protein alternatives market that has garnered significant attention of food biotechnology companies, and academic / research institutions across the globe. Cultured meat production is believed to be a more efficient and effective way of catering to the growing population’s food requirements. Thus, owing to the distinct characteristics and benefits, the method of cultured meat production is likely to play a pivotal role in overcoming several challenges related to the continuous increase in the demand for meat.
Moreover, with the increasing investment in the industry, more startups have arisen with an aim of developing innovative technologies in order to support the scale up of cultured meat production process. This is accompanied by the efforts to lower the cost of production such that the cultured meat products become affordable for the consumers. Therefore, driven by the overall population growth, ongoing advancements and substantial investments, the cultured meat market is anticipated to witness steady growth in the foreseen future.
The cultured meat market size to reach over USD 225 billion by 2050, expanding at a CAGR of 30.8% according to a new report by Roots Analysis.
Key Report Takeaways
§ Considering the perpetual increase in the demand for meat, owing to the population growth and changing dietary preferences, the meat industry is expected to pursue cultured meat as a sustainable protein alternative
§ Several investors, having realized the opportunity within this domain, have invested close to USD 2.4 billion across various funding rounds in the past four years
§ More than 375 patents have been filed / granted related to cultured meat by industry and non-industry players to protect intellectual property generated within this field
§ The opportunity is expected to be well distributed across different forms of meat, end products and geographical regions
Competitive Landscape of Cultured Meat Market
The cultured meat market landscape features the presence of more than 105 cultured meat providers. Over 35% of the cultured meat providers were established in 2023, demonstrating increasing activity and developments in the cultured meat industry. It is worth highlighting that 31% of the cultured meat providers are based in North America. Within Europe, the UK emerged as the hub of cultured meat providers. Notably, 57% of the companies offer filets / steaks as the cultured meat end products. Examples of firms established during the period 2018-2021, include (in reverse chronological order of their year of establishment, no selection criteria) Clever Carnivore (2021), GOOD Meat (2021), BLUU (2020), CellX (2020), Ivy Farm Technologies (2019), MIRAI FOODS (2019), Avant (2018) and Shiok Meats (2018).
Protein Expression Market Regional Outlook
Based on the key geographical regions, the cultured meat market can be segmented into six major regions, including North America, Europe, Asia Pacific, Middle East and North Africa, Latin America and Rest of the World. Led by the Singapore, Asia-Pacific is anticipated to capture the majority share of the cultured meat market in 2024 and this trend is likely to remain unchanged during the forecast period. Further, the demand for cultured meat is growing at a faster rate in Europe, acting as an impetus for the growth of the cultured meat market in this region.
Market Players
Examples of key companies engaged in cultured meat market (which have also been profiled in this market report; the complete list of companies is available in the full report) include:
§ Aleph Farms
§ Ants Innovate
§ Blue Ridge Bantam
§ BLUU
§ Esco Aster
§ Finless Foods
§ GOOD Meat
§ Meatiply
§ MIRAI FOODS
§ Mosa Meat
§ Newform Foods
§ Ohayo Valley
§ Steakholder Foods
§ The Better Butchers
§ UPSIDE Foods
§ Vow
It is interesting to note that in April 2024, Netherlands based food technology company Meatable conducted Europe’s first ever pre-approval tasting for their cultivated pork sausages, marking it as a key milestone for the company.
Market Segments
Based on the research, Roots Analysis has segmented the Cultured Meat Market into Source of Meat, Type of Cultivation Technique, Form of Meat Produced, End Products Offered, Application, End Users and Key Geographical Regions.
by Source of Meat
§ Poultry
§ Beef
§ Pork
§ Seafood
§ Others
by Type of Cultivation Technique
§ Scaffold-based Technique
§ Tissue-based Technique
§ Suspension-based Technique
§ Others
by Form of Meat Produced
§ Minced Meat
§ Whole-cut Meat
by End Products Offered
§ Filets / Steaks
§ Burger Patties
§ Nuggets
§ Sausages
§ Meatballs
by Application
Human Food Industry
Pet Food Industry
by End Users
Restaurants
Retailers
E-commerce
by Key Geographical Regions
§ North America
§ Europe
§ Asia-Pacific
§ Middle East and North Africa
§ Latin America
§ Rest of the World
About Roots Analysis
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