Cultured Meat Market by Source (Poultry, Beef, Seafood, Pork, Duck), End Use (Nuggets, Burgers, Meatballs, Sausages, Hot Dogs), and Region (North America, Europe, Asia Pacific, South America, Middle East & Africa) - Global Forecast to 2034

Northbrook, IL 60062 -- (SBWire) -- 11/15/2023 --According to a recent research report by MarketsandMarkets, the global cultured meat market is anticipated to reach USD 1.1 billion by 2034, with a projected CAGR of 16.5% from 2028 to 2034. The next five years, starting from 2023, are expected to witness a robust 16.1% CAGR. As sustainability takes center stage across economies and personal lives globally, cultured meat emerges as a pivotal solution, addressing environmental challenges posed by traditional livestock farming.

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Cultured meat is gaining traction for its substantial reduction in environmental impact, including greenhouse gas emissions, land use, and water consumption. The sector is experiencing heightened interest from venture capitalists, large food companies, and impact investors, resulting in increased funding for research and development. This financial influx is expediting the commercialization of cultured meat products.

Government support, manifested through grants, research funding, and streamlined regulatory pathways, is playing a crucial role in fostering the development and expansion of the cultured meat market. This backing facilitates innovation, ensures safety and quality standards, and accelerates market acceptance. Advancements in cell culture, bioreactors, and tissue engineering are enhancing scalability and product quality, essential for positioning cultured meat as a viable and competitive alternative to traditional meat production.

The poultry segment is expected to exhibit the highest CAGR during the forecast period. Cultured poultry offers a controlled and sterile production environment, reducing the need for antibiotics and addressing food safety concerns. Transparency and traceability in the production process further enhance consumer confidence in the safety of the end product.

Nuggets dominate the cultured meat market in 2023, driven by culinary innovation and product diversity. The versatility of cultured meat technology allows for the creation of a wide range of products with various flavors, textures, and ingredients. Creative chefs and food scientists are experimenting with seasonings, coatings, and cooking techniques, appealing to diverse consumer preferences.

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The United States is anticipated to account for the largest market share in 2023, owing to a dynamic environment supporting innovation, investment, and regulatory approval in the cultured meat sector. Recent milestones include USDA approval for the sale of lab-grown chicken products by leading companies, signaling a significant step toward mainstream consumer adoption through established foodservice channels.

Major players in the cultured meat market include Mosa Meat (Netherlands), UPSIDE FOODS (US), JUST, Inc. (US), Integriculture Inc. (Japan), and BioCraft, Inc (US).

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