Cultured Meat and Seafood Market Size, Share & Trends Analysis Report By Source (Poultry, Beef, Seafood, Pork, Duck), By End-use (Nuggets, Burgers, Meatballs, Sausages, Hot Dogs), By Region, And Segment Forecasts, 2023 – 2030

Description

Market Overview:

The global cultured meat and seafood market size was valued at USD 1 billion in 2023 and is projected to expand at a CAGR of 15.6% from 2024 to 2028. The global cultured meat and seafood market is growing rapidly with the integration of technological advancements, shifting consumer preferences, and increasing awareness about sustainability. These variables have expanded the growth of the market in the upcoming years.

Market Size for Global Cultured Meat and Seafood Market on the Basis of Revenues in USD Bn, 2018-2023

Source: Maven Market Research

What Factors are Leading to the Growth of the Global Cultured Meat and Seafood Market:

• Conventional livestock farming and fishing practices contribute to deforestation, greenhouse gas emissions, and overfishing. This has enhanced the growth of the market. Furthermore, the environmental impact of traditional meat and seafood production is a major driver for the cultured meat market.
• Innovations in the cultured meat and seafood industry have witnessed significant technological advancements that have improved the efficiency and scalability of production processes.
• Furthermore, cultured meat and seafood eliminate the need for animal slaughter, addressing animal rights issues and reducing the ethical dilemmas faced by meat-eaters. This aspect appeals to a growing demographic of consumers who are concerned about animal welfare but do not want to compromise their dietary preferences.

Which Industry Trends have been Fueling the Growth?

Performance By Key Players: Numerous key companies are investing heavily in R&D to improve cell culture techniques, reduce production costs, and enhance product quality. Memphis Meats is leading the cultured meat and seafood industry. The company focuses on producing beef, chicken, and duck through cellular agriculture and has received significant investment from high-profile investors.

Consistent Health Benefits: Health-conscious consumers are driving demand for cultured meat and seafood to contain specific nutrients, reduce unhealthy fats, and eliminate antibiotics and hormones commonly found in conventional meat. Due to their potential health benefits, the industry is catering to the needs of various consumer segments, coupled with specific dietary requirements. This has escorted the growth of the market.

Integration in technology: Regular developments in bioreactor design, cell culture media, and tissue engineering have played a crucial role in reducing production costs and enhancing the quality of cultured products. These advancements are enabling companies to move from laboratory-scale production to commercial-scale operations, hence expanding the market share of the industry.

What is the Current Structure of the Global Cultured Meat and Seafood Market?

By End-Use Type

In 2023, burgers held a dominant revenue share of approximately 41% in the market. The market for cultured burgers is predicted to rise as consumers’ preferences for ethical and sustainable meat substitutes increase. Burgers made with cultured meat may lessen the meat industry’s negative environmental effects.Cultivated meat is being tested by a number of startups and major businesses, which is anticipated to help the market expand. The first-ever cultured meat hamburger manufacturer, Mosa Meat, announced a collaboration with animal nutrition startup Nutreco in January 2020. As a result, Nutreco will supply Mosa Meat with a nutrient-rich liquid to generate meat.

By Source

In terms of revenue, poultry dominated the market with a share of over 39% in 2023. Chicken consumption has increased in North America during the past 50 years. It is the most consumed meat in the U.S., with over 8 billion chickens slaughtered for food each year. Globally, more than 50 billion chickens are raised every year. The rise in the number of startups and market entrants investing in cellular agriculture technology to develop poultry-cultivated products is favoring the growth of the poultry segment.

By Region, North America Held the Largest Market Revenue in the Global Market

North America is a leading market for cultured meat and seafood, driven by technological innovation, investment, and consumer awareness. The existence of key players and supportive regulatory frameworks further fuel the growth of the market. Moreover, Europe is another significant market, with countries like the Netherlands at the forefront of cultured meat research and development. A strong emphasis on sustainability and animal welfare drives consumer interest in the region, which augments the market revenue speedily.

Competitive Analysis

The major players in the Cultured Meat market include Aleph Farms, Avant Meats Company Limited, Biftek INC, Mosa Meat, BlueNalu Inc., BioFood Systems Ltd, WildType, New Age Eats, Shiok Meats Pte Ltd, SuperMeat, Meatable, Finless Foods Inc., Fork & Good Inc., Future Meat Technologies Ltd, UPSIDE Foods, Mission Barns. The global cultured meat and seafood market is poised for significant growth, as key players continue to innovate and expand their reach, the market is expected to become more competitive and diverse. It is witnessed that the growth of the market is mainly accredited to technological advancements, environmental and ethical considerations, health benefits, and supportive regulatory frameworks, and is expected to continue to grow worldwide in the forthcoming years.

Market Segmentation

Global Cultured Meat and Seafood Market, By Source

• Poultry
• Beef
• Pork
• Seafood
• Duck

Global Cultured Meat and Seafood Market, By Channel Type

• Direct Sales
• Online Retail
• Specialty Stores
• Convenience Stores

Global Cultured Meat and Seafood Market, By Application Type

• Burgers
• Meatballs
• Sausages
• Nuggets
• Seafood Products

Global Mobile Phone Accessories Market, by Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • Russia
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Rest of Asia-Pacific
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • Turkey
  • South Africa
  • Rest of Middle East & Africa

Key Players

• Mosa Meat
• Memphis Meats
• Aleph Farms
• BlueNalu
• Finless Foods
• JUST Inc.
• Future Meat Technologies
• SuperMeat
• Shiok Meats
• Higher Steaks
• BioTech Foods