Selbyville, Delaware,, March 20, 2023 (GLOBE NEWSWIRE) --
The cultured meat market valuation is anticipated to reach USD 20 billion by 2032, as reported in a research study by Global Market Insights Inc.
The study claims that the increasing popularity of cruelty-free alternatives to animal-based meat products will enhance the adoption rate of clean meat. According to a survey conducted and commissioned by OpinionWay and the Goof Food Institute (GFI) on 4096 participants from Germany, France, Italy, and Spain, over 60% of the residents from all four nations think that substitutes for conventional animal agriculture need to be introduced.
An increasing number of companies focusing on capitalizing on this trend and manufacturing products that can indeed compete with traditional meat on taste and price to provide sustainable options will aid the expansion of the cultured meat market worldwide. For instance, in May 2021, Memphis Meats rebranded itself as Upside Foods and introduced its first consumer product, cultured chicken.
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The cultured meat market size from seafood segment will cross USD 6.5 billion by 2032, due to its rich nutritional composition and delicious taste. In addition, an increased emphasis on advancing aquaculture sustainability and reducing fishing pressure on oceans will boost the demand for cultivated seafood.
The cultured meat market share from the nuggets segment is projected to witness over 137% CAGR between 2023 and 2032 and exceed USD 6.2 billion by 2032, attributed to the increasing consumption of processed food products, including chicken nuggets, among the youth. Besides, the ongoing replacement of traditional meat and meat products with eco-friendly and cruelty-free alternatives will positively fuel the industry dynamics.
The APAC cultured meat market is estimated to be worth over USD 6 billion by 2032. The flourishing global trade, accelerating urbanization, and the positive economic outlook across several regional economies, including China, India, and Japan, will fuel the regional landscape. Over and above, the rapid consumer shift from vegetarianism towards diets containing high amounts of meat and dairy food products will influence synthetic meat sales in the region.
Prominent participants operating across the cultured meat market include Mosa Meat, Upside Foods, Aleph Farms, Finless Foods, Meatable, New Age Meats, HigherSteaks, Biofood Systems, Avant Meats Company Limited, Balletic Foods, Future Meat Technologies, BlueNalu, Eat Just, Biotech Foods, and Cell AG Tech.
These companies have been raising several investments to scale their products and expand their portfolio to gain access to a broader consumer base. For instance, in March 2021, Meatable raised a series A funding of USD 47 million led by investors such as Section 32, DSM Venturing, Dr. Rick Klausner, and Dr. Jeffrey Leiden. Through the capital, the company aims to expand its product portfolio with beef. With the funding round, the company's total funding reached USD 60 million.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Cultured meat market 360 º synopsis, 2018 – 2032
2.1.1 Business trends
2.1.2 Source trends
2.1.3 End-Use trends
2.1.4 Regional trends
Chapter 3 Cultured Meat Market Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2018 – 2032
3.2.1 COVID-19 impact on industry landscape
3.3 Industry ecosystem analysis
3.3.1 Raw material suppliers
3.3.2 Manufacturers
3.3.3 Distribution chain analysis
3.3.3.1 Technology Providers
3.3.3.2 Distributors
3.3.4 Vendor matrix
3.3.5 Impact of COVID-19 on the industry value chain
3.4 Raw Material Analysis
3.4.1 Cell lines of living animals
3.4.2 Cell media components
3.4.3 Glucose
3.5 Regulatory Landscape
3.5.1 North America
3.5.1.1 U.S.
3.5.1.2 Canada
3.5.2 Europe
3.5.3 Asia Pacific
3.5.3.1 Singapore
3.5.3.2 China
3.5.3.3 Australia and New Zealand
3.5.3.4 India
3.6 Industry impact forces
3.6.1 Growth Drivers
3.6.1.1 North America
3.6.1.1.1 Growing demand for the alternatives of animal-based products
3.6.1.1.2 Rapid evolution of online food delivery is uplifting the demand for cultured meat
3.6.1.2 Europe
3.6.1.2.1 Enhanced food safety and health benefits
3.6.1.2.2 Focus on animal welfare
3.6.1.3 Asia Pacific
3.6.1.3.1 High per capita meat consumption and imports in the emerging Southeast Asian economies
3.6.1.3.2 High demand for quick-service restaurants is driving the demand for cultured poultry meat products
3.6.1.3.3 Rising meat and meat products consumption
3.6.2 Industry pitfalls & Challenges
3.6.2.1 Stringent regulatory environment
3.6.2.2 High Set up cost
3.7 Pricing Analysis
3.7.1 Cultured beef price trends
3.7.2 Cultured poultry price trends
3.7.3 Cultured seafood price trends
3.7.4 Cultured pork price trends
3.7.5 Cultured duck price trends
3.7.6 Other cultured meat price trends
3.7.7 Cost structure analysis, 2022
3.8 Technology landscape
3.9 Innovation & sustainability
3.10 Growth potential analysis, 2022
3.10.1 Emerging business model
3.10.1.1 Acquisitions
3.10.1.2 Product Expansion
3.11 Porter's analysis
3.11.1 Bargaining power of suppliers
3.11.2 Bargaining power of buyers
3.11.3 3.11.3 Threat of new entrants
3.11.4 Threat of substitutes
3.12 PESTEL analysis
3.13 Impact of COVID-19 on cultured meat demand, by end-use
3.13.1 Burgers
3.13.2 Nuggets
3.13.3 Meatballs
3.13.4 Sausages
3.13.5 Others
3.14 Overview of certification of cultured meat
3.14.1 Singapore
3.14.2 Qatar
3.14.3 Japan
3.14.4 Canada
3.14.5 UK
3.14.6 Data on registration status different part of country/ Region
3.15 Patent Landscape
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
