CHICAGO, Sept. 19, 2019 /PRNewswire/ -- According to the new market research report "Cultured Meat Market by Source (Poultry, Beef, Seafood, Pork, and Duck), End-Use (Nuggets, Burgers, Meatballs, Sausages, Hot Dogs), and Region (North America, Europe, Asia Pacific, Middle East & Africa, South America) - Global Forecast to 2032", published by MarketsandMarkets, the Cultured Meat Market size is estimated to be valued at USD 214 million in 2025 and is projected to reach USD 593 million by 2032, recording a CAGR of 15.7% from 2025 to 2032 in the normal scenario. The rising consumption of meat and increasing demand for nutritional meat are some of the key factors driving the growth of the industry.
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The poultry segment is projected to witness the fastest growth during the forecast.
Based on the source, the cultured meat market is segmented into poultry, beef, seafood, pork, and duck. The poultry segment is projected to witness the fastest growth during the forecast period, due to its availability when compared to other meat sources, such as beef, and also due to the large consumer preference for poultry & poultry products.
The growing popularity of poultry products in various quick-service restaurants (QSRs) has encouraged manufacturers to develop innovative alternative products to meet future demand from meat consumers. Moreover, the rising demand for chicken meat, owing to the rapidly growing urbanized population in developing countries, is expected to support the cultured meat market globally. According to the FAO, the growing demand for poultry products is driven by urbanization, population growth, and an increase in income levels in developing countries.
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177 - Tables
32 - Figures
181 - Pages
The nuggets segment is projected to witness the fastest growth in the cultured meat market during the forecast period.
By end-use, the cultured meat market is segmented into nuggets, burgers, meatballs, sausage, hotdogs, and others. Key fast food retailers such as KFC and the supermarkets are also offering chicken nuggets, as consumers prefer spending on ready-to-eat food products instead of cooking. Thus, cultured meat companies are focusing on providing chicken meat products in the form of nuggets. Nuggets is one of the major forms, in which chicken meat products are consumed in various countries. This is attributed to the increasing adoption of on-the-go lifestyle and consumption of snacking products, particularly in the US, consumers.
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North American is estimated to dominate the cultured meat market, in terms of value, in 2021
The cultured meat market in North America is projected to witness high growth due to the rise in innovations and developments, and high spending for efficient R&D. Health concerns about the consumption of meat products, increase in investor interests in alternative proteins, and potentials to provide the required nutrition in tailor-made proteins are the major factors for the consumers to shift from conventional meat to cultured meat products. The rising demand for the alternative protein in the region supports increased investment in cultured meat companies. For instance, in 2017, Cargill invested in Memphis Meats (US) to tap the potential related to the cultured meat market.
This report includes a study on the marketing and development strategies, along with the product portfolios of the leading companies. It consists of the profiles of leading companies such as Memphis Meats (US), MosaMeat (Netherlands), SuperMeat (Israel), Just, Inc (US), Integriculture (Japan), Aleph Farms Ltd (Israel), Finless Foods Inc. (US), Avant Meats Company Limited (China), Balletic Foods (US), Future Meat Technologies Ltd (Israel), Appleton Meats (Canada), Higher Steaks (UK), Biofood Systems LTD (Israel), Fork & Goode (US), Meatable (Netherlands), Mission Barns (US), Bluenalu, Inc. (US), New Age Meats (US), Shiok Meats (Singapore), Seafuture Sustainable Biotech (Canada), Wild Type (US), Lab farm Foods (US), Cubiq Foods (Spain), Kiran Meats (US), and Cell Farm FOOD Tech/Granjua Celular S.A (Argentina).
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