Cultured Meat Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021 - 2026

  Overview

The cultured meat market size is forecast to reach $17.16 million by 2024, registering a growth rate of 4.37% during 2019-2024. Some of the key factors contributing to the market growth include growing demand for alternative protein, advancement in cellular agriculture technologies, and food safety. Further, the growing concern for environmental sustainability and animal welfare is expected to drive the market over the forecast period. 

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Report Coverage

The report: “Cultured Meat Market – Forecast (2019-2024)”, by IndustryARC covers an in-depth analysis of the following segments of the Cultured Meat Market.

•By Type

•Self-Organizing Technique

•Scaffold-Based Technique

•Cell Culture Media

•Scaffolding and Structuring

•Bioreactors

 •By Source

•Poultry

•Pork

•Beef

•Duck

•By End-Use

•Nuggets

•Burgers

•Meatballs

•Sausages

•Hot dogs

•Others

•By Geography

•North America

•South America

•Europe

•APAC

•RoW

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Key Takeaways

· Poultry was the leading segment in the market segmented by source with 36.19%, in 2018.

· Nuggets was the leading segment in the cultured meat market segmented by end-use industry with 23.72%, in 2018.

· North America held the largest share with 51.46%, in 2018.

· Growing preference for a vegetarian and vegan lifestyle is a key factor driving the cultured meat market.

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Source - Segment Analysis

The cultured meat market segmented by the source is led by poultry. The poultry segment accounted for a share of 36.19% in terms of revenue in 2018. New eating habits, such as veganism, is driving the market. Veganism involves refraining from the use of animal products, particularly in diet. Non-vegetarians who have turned vegans prefer poultry as the most preferred form of meat source for cultured meat over beef, duck, and pork. Beef followed poultry in terms of revenue in 2018, while pork is expected to grow the fastest during the forecast period 2019-2024.

End-use industry - Segment Analysis

The nuggets segment leads the cultured meat market segmented by the end-use industry. The nuggets segment in the cultured meat market segmented by end-use industry accounted for 23.72%, in 2018. This segment is preferred in developed countries like the U.S., Canada, the U.K., Spain, and Germany in the form of a snack. The demand for nuggets is expected to grow at a healthy rate over the forecast period 2019-2024. Meatballs are expected to follow the nuggets segment in terms of revenue. Moreover, the burger segment is expected to grow at the fastest rate during the forecast period over the other categories in the segment.

Geography - Segment Analysis

North America is expected to hold the largest share in the global cultured meat industry. North America accounted for a share of 51.46% in terms of revenue in 2018. There is much investment put in the research and development of cultured meat in this region, and most of the key players are based out of this region. Further, shifting focus toward alternative protein and environmental sustainability are key factors in driving the market in the region. The Middle East is expected to follow North America in terms of revenue share and is also expected to grow the fastest during the forecast period.