Rapid Growth Forecasted for Cultured Meat Industry, Anticipated to Increase by 44.3% Compound Annual Growth Rate (CAGR) by 2034

In the world of food production, a revolutionary innovation is taking centre stage: cultured meat. This new approach, which leverages biotechnology to grow meat from animal cells, is poised to offer a sustainable and ethical alternative to traditional meat production.

The market for cultured meat is currently dominated by hypermarkets and convenience stores, which hold more than 46.80% of the share. Within this industry, nuggets and poultry products lead the way, capturing over 33.20% and 42.40% of the market respectively.

North America currently leads the region with a 39.40% market share, translating to a value of approximately USD 162.2 million. The Cultured Meat Market is expected to grow significantly, with a Compound Annual Growth Rate (CAGR) of 44.3%, expanding from USD 411.7 million in 2024 to USD 16115.5 million by 2034.

This growth is driven by increasing consumer demand for sustainable protein sources, technological advancements reducing production costs, and strong investment support. Companies like Mosa Meat and Aleph Farms are making strides in this field. Mosa Meat, for instance, has recently opened a new production facility in Maastricht, increasing its production capacity to tens of thousands of cultivated beef burgers annually.

Aleph Farms, in collaboration with WACKER, a German chemical company, is working to produce growth factors for cultivated meat at a lower cost. Meanwhile, Biftek, a Turkish biotechnology company, has made a breakthrough in producing animal-free growth factors for the industry using microbial fermentation.

Innovations in cultured seafood aim to produce fish products free from mercury, antibiotics, and other contaminants. Companies such as BlueNalu and Avant Meats are focusing on cultivated seafood, with BlueNalu planning to launch its first product, cultivated yellowtail, in select U.S. markets pending regulatory approval. Avant Meats is also working closely with regulatory bodies in Singapore and Hong Kong to gain approval for its cultivated seafood products.

However, the path to mainstream adoption is not without challenges. High production costs, scaling production, consumer acceptance, and regulatory hurdles remain obstacles in the industry. Addressing these challenges through continued innovation and strategic partnerships will be crucial for the industry to realize its full potential.

The household segment holds the dominant market position in the cultured meat sector, capturing more than 56.40% share. Advancements in biotechnology, such as the use of Raman spectroscopy, are being used to monitor and enhance the quality of cultured meat production. Research is ongoing to develop cell-based versions of dairy, seafood, and other animal products in the cultured meat industry.

The CELLZERO Meat project, a Swiss joint venture, has successfully developed cultivated pork without genetic engineering or fetal calf serum and replaced antibiotics with cold plasma. The Cultured Hub, a Swiss joint venture of Migros Industrie, Givaudan, and Bühler, supports commercialization efforts for cultivated foods in Europe.

Efforts are underway to achieve regulatory approvals for cultured meat products, which will allow them to be marketed and sold widely. Companies like Bluu Seafood have made significant progress in this area, launching Europe’s first pilot plant for cultivated fish and collaborating with the Chinese company CellX to accelerate regulatory approvals.

In conclusion, the cultured meat industry is on an upward trajectory, offering a sustainable and ethical alternative to traditional meat production. With continued innovation, strategic partnerships, and regulatory approvals, this industry has the potential to revolutionise the food industry and address some of the most pressing sustainability and ethical concerns of our time.

Rapid Growth Forecasted for Cultured Meat Industry, Anticipated to Increase by 44.3% Compound Annual Growth Rate (CAGR) by 2034