BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Global Cultured Meat Market size at USD 364.31 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Global Cultured Meat Market size to boom at a robust CAGR of 41.81% reaching a value of USD 4,202.36 million by 2030. Growing awareness about animal rights and growing monetary assistance for the lab-grown meat sector owing to lower carbon footprint compared to livestock industry are two key growth drivers for the Global Cultured Meat Market. Furthermore, growing consumer health consciousness and incidences of zoonotic diseases are expected to offer lucrative growth opportunities for the players in the Global Cultured Meat Market.
Opportunity: Rising Concerns Surrounding Animal Rights and Climate Impact
According to research by Stanford Woods Institute for the Environment, livestock industry depletes freshwater resources, ruins grasslands and forests, and erodes soil. Pollution, fertilizer runoff, and animal feces suffocate coral reefs and create dead zones along coastlines. Beef is the food with the biggest carbon footprint, releasing an amazing 99 kilos of CO2e every kilogram of finished meat product, according to measures of carbon dioxide equivalent (CO2e). As a result, cultured meat is emerging as an effective alternative to animal meat as it eliminates animal slaughter and lowers environmental impact. It, in turn, is projected to drive the Global Cultured Meat Market.
Impact of Escalating Geopolitical Tensions on Global Cultured Meat Market
The escalating geopolitical tensions are having a mixed impact on the Global Cultured Meat Market. Conflicts such as the Russia-Ukraine war or genocide acts such as Israel’s military action on Palestine are leading to food insecurity. Therefore, in conflict-torn areas where livestock agriculture is challenging, alternative protein sources are becoming a profitable way to address food security concerns. Unfortunately, the geopolitical tensions hindered research and development efforts related to cultured meat in various nations, including Israel, because of a shortage of funding and human capital, which restrained the expansion of the global cultured meat industry.
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Global Cultured Meat Market
Segmental Coverage
Global Cultured Meat Market – By End Use
Based on end use, the Global Cultured Meat Market is segmented into household and food services. The food services segment accounts for a higher share of the market. The flourishing hospitality sector and rising approvals to serve cultured meat in food outlets are driving the demand for these products in the market. Quick service restaurants (QSRs) growing interest in providing customers with lab-grown meat products and consumers' curiosity about trying meat products created in laboratories are propelling their market growth.
Global Cultured Meat Market - By Region
The in-depth research report on the Global Cultured Meat Market covers the market in a number of major countries across five regions: North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa. North America dominates the Global Cultured Meat Market owing to the rising demand for sustainable meat in the market and initiatives taken by animal welfare organizations, such as PETA, to promote the consumption of cultured meat in the region. Additionally, the high concentration of key players in the United States, such as Eat Just and Upside Foods, is further driving the Cultured Meat Market in North America.
Competitive Landscape
Major players operating in the Global Cultured Meat Market include Mosa Meat, Aleph Farms, Future Meat Technologies, Memphis Meats, Upside Foods, Vow Group Pty Ltd, BioFood Systems Ltd, Avant Meats Company Limited, New Age Eats, and SuperMaat. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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