USD 123.04 million
Global Lab Grown Meat Market Size, Share, Growth Analysis, By Product(business-to-business and business-to-consumer) - Industry Forecast 2024-2031
Report ID:
SQMIG30C2084 |
Region:
Global |
Published Date: February, 2024
Pages:
267
|
Tables:
34 |
Figures:
74
Global Lab Grown Meat Market Insights
Lab Grown Meat Market size was valued at USD 123.04 million in 2019 and is poised to grow from USD 173.24 million in 2023 to USD 740 million by 2031, growing at a CAGR of 21.9% in the forecast period (2024-2031).
Cultured meat, also known as clean meat, cultured meat, or lab-grown meat, is produced in a laboratory from a small number of animal cells. It is genuine meat, but unlike traditional meat, it does not necessitate the slaughter of animals. In vitro meat, also known as lab grown meat, is a type of artificial meat that is produced through cellular agriculture and tissue engineering. Because meat is an excellent source of omega-3 fatty acids, vitamin B12, protein, and iron, humans have relied on it to meet their nutritional needs. Muscle cells taken from the animal are grown and multiplied in the culture medium to produce in vitro meat in the laboratory. The market for lab-grown meat is expanding because of the numerous advantages it offers, such as a lower impact on the environment, the absence of the need to raise animals, and a reduction in risks to public health.
Cultured meat is an alternative source of protein. Customers are turning their attention to adopting a diet that is richer in nutrients, focuses on living more sustainably, and relies less on animal proteins. Additionally, the majority of consumers of alternative proteins are individuals who are allergic to proteins derived from animals. The adult muscle stem cells of a live animal are grown in vivo to produce lab-grown meat by multiplying to form muscle tissue in a growth culture medium that is rich in nutrients.
The development of more cost-effective growth media for feeding cells, improved "scaffolding" materials that are used to shape generated tissues into meat, and bioreactor platforms that will enable the production of cultured meat on a larger scale are all important challenges facing cultured meat in the future. The high cost of investment is one of the primary obstacles to the production of cultured meat.
US Lab Grown Meat Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Poultry
Fastest Growth
Poultry
Growth Rate
21.9% CAGR
Global Lab Grown Meat Market ($ Bn)
Country Share for North America Region (%)
Global Lab Grown Meat Market By Type ($ Bn)
Global Lab Grown Meat Market By Type (%)
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Global Lab Grown Meat Market Segmental Analysis
The Lab Grown Meat Market is segmented on the basis of product type, application, distribution channel, and region. Whereas, by product type is sub segmented into the beef, pork, poultry, seafood, and others. By application is sub segmented into the meatballs, burger patties, hot dogs & sausages, nuggets, and other applications. By distribution channel is sub segmented into the business-to-business and business-to-consumer. By region is segmented on the basis of North America, Europe, Asia Pacific, Latin America and MEA.
Lab Grown Meat Market Analysis by Product Type
Based on the Product type, The poultry segment is estimated to account for the largest share of the overall lab-grown meat market in 2022. The popularity of poultry products in various quick-service restaurants and the relatively lower cost of lab-grown poultry meat compared to other types account for the majority of this market share.
Nevertheless, the fish industry is anticipated to expand at the highest CAGR over the forecast period. This market's rapid expansion can primarily be attributed to rising investments in cell-based seafood and rising environmental challenges faced by aquaculture.
Lab Grown Meat Market Analysis by Application
Based on the Application, In 2022, the meatballs segment is estimated to account for the largest share of the lab-grown meat market. The increased sales of ready-to-cook foods, the high demand for convenience foods, and shifting food consumption patterns are all to blame for this segment's substantial market share.
However, during the forecast period, the burger patties market is anticipated to expand at the highest CAGR. The expanding market for quick-service restaurants, the increasing number of innovative product launches by burger manufacturers, and the growing popularity of burger patties as ready-to-eat foods all contribute to the rapid expansion of this market segment.
Global Lab Grown Meat Market By Type, 2023 (%)
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Global Lab Grown Meat Market Regional Insights
Due to concerns about the safety of meat, it is anticipated that North America will take the largest share of the regional market for lab-grown meat. The adverse effects that red meat products have on a person's health are becoming more and more well-known to consumers. Major food and meat manufacturers have invested in the development of lab-grown meat as a result of their search for suitable alternatives.
Asia Pacific will also witness a rise in demand for lab grown meat during the forecast period as this region has a large meat eating consumer base. Technological advancements and investment in R&D will create lucrative growth opportunities for players in this region in the coming years.
Global Lab Grown Meat Market By Region, 2024-2031
- Largest
- Fastest
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Global Lab Grown Meat Market Dynamics
Lab Grown Meat Market Drivers
Evolution of Tissue Engineering to Bolster Market Growth
- Over the past few years, a lot of research has been done in this area on advances in cell culture, which offer a lot of potential value for in vitro research. Cultured meat has been made from animal cells using a variety of tissue engineering methods. Instead of slaughtering animals, a variety of processed meat products have been made using in vitro meat cultured from muscle tissue. The lab grown Meat Market is anticipated to expand as a result of this.
Lab Grown Meat Market Restraints
Lack of Acceptance to Hamper Market Growth
- The undefined regulatory framework that governs these novel foods is also anticipated to be a significant obstacle to the expansion of the lab-grown meat market. At regulatory levels, the claims on the label about whether such foods qualify as "meat" are beginning to be considered. In addition, consumer-based surveys carried out in a variety of locations around the world have revealed a lack of trust in lab-grown meat, which is expected to be addressed through increased communication and awareness.
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Global Lab Grown Meat Market Competitive Landscape
Diverse growth strategies have been used by market participants in the global cultured meat market to increase profitability, increase market share, and maintain market leadership. Include Future meat, where, Future meat technologies have received a seed investment of USD 2.2 million from Tyson ventures, the venture capital arm of Tyson foods.
Lab Grown Meat Market Top Players Company Profiles
- Mosa Meat (Netherlands)
-
Memphis Meats
-
Aleph Farms
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Future Meat Technologies
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SuperMeat
-
Just, Inc. (formerly Hampton Creek)
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Finless Foods
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Cubiq Foods
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Shiok Meats
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Biotech Foods
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Meatable
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Higher Steaks
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Meat-Tech 3D
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Biftek.co
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Orbillion Bio
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Mirai Foods
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VOW
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BioBQ
Lab Grown Meat Market Recent Developments
- In 2022, scientists from the National University of Singapore (NUS) have found a novel way of growing cell-based meat by zapping animal cells with a magnet. This new technique simplifies the production process of cell-based meat by reducing reliance on animal products, and it is also greener, cleaner, safer and more cost-effective.
- In 2022, Singapore made headlines as it became the first country in the world to commercially approved lab-grown meat.
Global Lab Grown Meat Key Market Trends
- In the global marketplace, the vegan trend is here to stay. Consumers are looking for environmentally friendly alternatives to animal-based food products; food processors are also developing novel options, including lab-grown meat. Clean meat and cultured meat are other names for it. The market for lab-grown meat has seen the entry of a number of new businesses that have received support from well-known organizations. For instance, Cargill has provided funding to Mosa Meat, a Dutch food technology company that is developing cultured meat production methods.
Global Lab Grown Meat Market SkyQuest Analysis
Sky Quest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our global lab grown meat market analysis, the development of this market is being fueled by elements like improvements in lab-grown meat production technology, an increase in venture capital investments in the sector, a growing emphasis on animal welfare, rising demand for processed foods made from animals, and rising demand for allergen-free foods. But there are other factors that limit the expansion of this sector, including the strong demand for plant-based protein, the absence of an uniform regulatory framework for lab-grown meat, psychological obstacles to eating cultured meat, and the rising number of vegans.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 123.04 million |
| Market size value in 2031 | USD 740 million |
| Growth Rate | 21.9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Lab Grown Meat Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Lab Grown Meat Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Lab Grown Meat Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Lab Grown Meat Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Lab Grown Meat Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Lab Grown Meat Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Lab Grown Meat Market Report Snapshots
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