Global Cultured Meat Market Share Likely to Reach At a CAGR of 15% By 2030

According to Custom Market Insights (CMI), the global cultured meat market size was worth around USD 119 million in 2021 and is predicted to grow to around USD 450 million by 2030 with a compound annual growth rate (CAGR) of roughly 15% between 2022 and 2030. The report analyses the cultured meat market’s drivers and restraints, as well as the impact they have on demand throughout the projection period. In addition, the report examines global opportunities in the global cultured meat market.

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Cultured meat Market: Overview

Cultured meat has the potential to provide more people around the world with access to high-quality meat at lower environmental costs in the long run. The cultured meat industry also helps reduce its impact on the environment because it requires less meat, is less polluted, and uses less water. Studies have also shown that laboratory-produced meat contains fewer contaminants and fewer antibiotics. This factor also had a positive impact on the growth of the industry.

Growth Factors

Increased meat consumption, coupled with increased demand for nutritious meat, is expected to drive market expansion over the forecast period. Consumers are shifting their focus to a more nutritious diet that promotes a more sustainable lifestyle and is less dependent on animal protein.

Protein consumption is expected to provide many meat processors and food companies with the opportunity to switch to alternative animal proteins B Cultured meat to meet consumer demand. However, when using animal-based meat substitutes, meeting daily protein requirements and the taste of meat products is an important issue. This is a good potential for the cultural meat industry.

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Segmental Overview

Based on the source, the market is divided into beef, pork, chicken, duck and seafood. Among them, chicken consumed much more than other meats, so the poultry sector had a large market share. Therefore, the major producers are mainly focused on the production of poultry, which is very popular all over the world.

Regional Overview

Based on the regional division, in 2021, the majority of the market share was occupied by the North American region. Some of the major factors responsible for the dominant market share are increased urbanization, increased technological advances in cell culture, growth in R&D activities, and the presence of international players in the region. In addition, a group of Americans has shifted their tastes to alternative meat products for increased profits.