Cultured Meat Market

Market Leader - Cultured Meat Market

The global cultured meat market study covers three scenarios, namely, optimistic, normal, and pessimistic, considering that the market sizing is futuristic. For the normal scenario, the global cultured meat market is expected to reach a value of USD 15.5 Million by 2021 and is projected to reach USD 20.0 Million by 2027, at a CAGR of 4.0% during the forecast period. The market is driven by factors such as increased demand for alternative meat proteins, growing food safety concerns, and technological advancements in cellular agriculture.

Based on source, the poultry segment is projected to grow at the highest CAGR from 2022 to 2027, making it a key revenue pocket for cultured meat industry players. It is the most widely consumed meat at a global, followed by pork and beef. Poultry products are the cheapest source of animal protein and are preferred in developing regions such as the Asia Pacific. A majority of the players engaged in cultured meat are conducting research & development based on poultry meat due to its low cost and high consumption on a global level.

Based on application, the nuggets segment is projected to grow at the highest CAGR from 2022 to 2027. Nuggets are a popular poultry product, especially gaining popularity in developing countries due to rapid urbanization compelling consumers to opt for on-the-go food products. This is expected to drive the cultured meat market during the forecast period.

In terms of value, the Middle East & Africa is expected to be the fastest-growing region for the cultured meat market during the forecast period. Countries such as Israel, which is actively involved in the R&D of lab-grown meat, are expected to offer significant opportunities for the growth of the cultured meat market. Apart from this, the country has also signed a trade agreement with China, valued at USD 300 million. Expansion of fast-food chains, along with growing food safety concerns among consumers is expected to boost the demand for cultured meat.

Related Reports:

Cultured Meat Market by Source (Poultry, Pork, Beef, Duck), End Use (Nuggets, Burgers, Meatballs, Sausages, Hot Dogs), and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) - Global Forecast to 2027

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Report Code
FB 6247
RI Published ON
5/7/2018
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