Market Overview:

The cultured meat market is poised for significant growth, with a projected compound annual growth rate (CAGR) of 17.2% from 2024 to 2031. By 2030, the global market, which was valued at USD 224 million in 2022, is expected to reach USD 797 million. Cultured meat, also known as lab-grown meat, is produced through in-vitro cultivation of animal cells, offering numerous advantages over traditional meat, including financial, health, animal welfare, and environmental benefits.

Market Trends:

The cultured meat industry is seeing increasing collaborations among startups aimed at raising awareness about cell culture techniques and lab-grown meat technologies. Initially, the high cost of lab-grown meat poses a challenge, but further commercialization is expected to reduce prices and boost sales. Technological advancements in the sector are driving the global shift towards sustainable food systems, addressing environmental concerns, and reducing the impact of animal agriculture.

Cell-based meat, produced using cell culture technology and tissue engineering, replicates the taste, texture, and nutritional composition of traditional meat. It offers a sustainable and ethical solution, significantly reducing the environmental footprint of meat production. The global transition towards alternative proteins is driven by the increasing demand for meat due to population growth and the need for sustainable food solutions.

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Market Segmentation:

The cultured meat market is segmented by meat type and product type. The poultry segment dominates, particularly in North America, where chicken consumption has surged over the past decades. Startups are investing heavily in developing cultivated poultry products, facilitated by technological advancements and regulatory approvals, such as the FDA approval for Upside’s cell-cultured chicken in 2022.

Geographical Analysis:

North America is expected to be the leading region in the cultured meat market during the forecast period. The region is witnessing significant attention and investment in cultured meat as a sustainable alternative to conventional meat. The United States accounts for a substantial portion of global investment, with a reported USD 1,360.24 million dedicated to research in the cultured meat market. The increasing consumer demand for ethical food options and the need to address environmental concerns are driving the market in North America. Regulatory bodies and research institutions are actively supporting the development of this emerging industry, positioning North America as a key player.

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Competitive Landscape:

The global cultured meat market features several major players, including BlueNalu, Inc., BioFood Systems Ltd, WildType, New Age Eats, Shiok Meats Pte Ltd, SuperMeat, Aleph Farms, Avant Meats Company Limited, Biftek INC, and Mosa Meat. These companies are at the forefront of developing and commercializing cultured meat products, contributing to the market's growth and technological advancements.

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