Global Artificial Meat Market is Likely to Grow at a CAGR Value of 15.90% By 2028

17-Aug-2022 | Zion Market Research

The global artificial meat market size was worth USD 128.30 billion in 2021 and is estimated to grow to USD 310.97 billion by 2028, with a compound annual growth rate (CAGR) of approximately 15.90 percent over the forecast period. The report analyses the Artificial Meat Market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the Artificial Meat Market.

Artificial meat is grown in a lab from a few animal cells. It is actual meat, but unlike traditional meat, it doesn't necessitate the slaughter of animals. The purpose is to establish an environmentally ethical and sustainable meat sector. The meat is prepared by a method known as "cellular agriculture, and it is considered the future wave by some industry experts. Consuming meat can contribute to chronic illness. However, the science isn't clear regarding the potential effects of lab-grown meat on nutrition, even though scientists can modify the fat and cholesterol levels in cultured meat. The E. coli bacteria found in animal feces, and other contaminants that could be present in a meat processing factory, are considerably less likely to be present in artificial meats. Artificial meat is also less cruel to animals and has a less environmental impact.

The market growth in the artificial meat industry has been fueled by an enormous increase in R&D investments over the past few years. With increasing awareness about animal meat and its impact on health and the environment, artificial meat is gaining more recognition amongst vegetarians, youngsters, and people looking for healthier alternatives. The biggest restraint on the growth of the global artificial meat market is its artificial nature; when consumers lack sufficient knowledge about a particular technology, such as genetically modified organisms, they are typically less willing to adopt it. Demand for poultry products rises as the demand for animal protein does. Additionally, it is anticipated that this may accelerate the commercial expansion of cultured meat globally. Furthermore, it is anticipated that the rising demand for chicken meat would support the worldwide market for cultured meat due to the rapidly expanding urban population in emerging countries.

Global Artificial Meat Market

The global artificial meat market is segregated based on source, end-use, and region. Based on the source, the market is divided into poultry, beef, seafood, pork, and duck. Among these, the poultry segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period. Based on end use, the market is classified into nuggets, burgers, meatballs, sausages, hot dogs, and others. In 2021, the nuggets category dominated the global market. 

The global artificial meat market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. In 2021, North America was most expected to dominate the market for cultured meat, taking the lead in the sector. High investment for effective R&D and increased inventions and advances are anticipated to account for most of the share. The main reasons customers are switching from conventional meat to cultured meat products are health concerns about the consumption of meat products, growth in investor interest in alternative proteins, and the potential for tailor-made proteins to supply the necessary nutrition. Due to the increased percentage of flexitarians and their openness to and acceptance of meat alternatives and other proteins, metropolitan areas in the U.S. and Canada are predicted to experience the fastest growth. Increased investment in enterprises that produce cultured meat is supported by the expanding demand for alternative protein in the area.

Key players in the global artificial meat market include Memphis Meats, MosaMeat, SuperMeat, Just, Inc, Integriculture, Aleph Farms Ltd, Finless Foods Inc., Avant Meats Company Limited, Balletic Foods, Future Meat Technologies Ltd, Appleton Meats, Higher Steaks, Biofood Systems LTD, Fork & Goode, Mutable, Mission Barns, Bluenalu, Inc., New Age Meats, Shiok Meats, Seafuture Sustainable Biotech, Wild Type, Lab farm Foods, Cubiq Foods, Kiran Meats, and Cell Farm FOOD Tech/Granja Celular S.A.

Recent Development:

  • March 2022: One of the top unified agro-industrial and food companies, Charoen Pokphand Foods Public Company Limited (CPF), and Future Meat Technologies have partnered. To fulfill the diverse consumer tastes and preferences of the Asian continent and to improve the company's understanding of market demands and vast distribution network in the area, this cooperation sought to develop hybrid cultured meat products for the Asian market.

Browse the full Artificial Meat Market By Sources (Poultry, Beef, Seafood, Pork, Duck), By End Use (Nuggets, Burgers, Meatballs, Sausage, Hot dogs, Others) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028. Report at https://www.zionmarketresearch.com/report/artificial-meat-market

Global Artificial Meat Market is segmented as follows:

By Source

  • Poultry
  • Beef
  • Seafood
  • Pork
  • Duck

By End-Use

  • Nuggets
  • Burgers
  • Meatballs
  • Sausage
  • Hot dogs
  • Others (pet food, and foie gras)

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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