Market for Lab-Grown Meat by Type (Beef, Pork, Poultry, Seafood), Application (Meatballs, Burger Patties, Hot Dogs & Sausages, Nuggets), and Distribution Channel (B2B, B2C) – Global Forecast to 2029
During the forecast period of 2022–2028, the Lab Grown Meat Market is estimated to reach $317.2 million, growing at a CAGR of 19.4 percent. The expansion of this market is being driven by factors such as technological advancements in cellular agriculture, greater investment by key industry leaders, increased attention on animal welfare, and higher demand for animal-based processed food items. High investment costs and a strict regulatory environment, on the other hand, limit the market's expansion. Furthermore, the growing need for alternative proteins and high per capita meat consumption offer huge growth potential for lab-grown meat producers.
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The lab-grown meat industry is divided into beef, pork, poultry, seafood, and others based on kind. The poultry segment is expected to have the highest proportion of the lab-grown meat market in 2022. The popularity of chicken items at various quick-service restaurants, as well as the relatively cheaper price of lab-grown poultry meat compared to other types, account for this segment's considerable market share. During the projected period, however, the fish segment is expected to develop at the quickest CAGR. More environmental problems for aquaculture and increased investments in cell-based seafood are both contributing to this segment's rapid rise.
Scope of the report
Lab-grown Meat Market, by Type
Lab-grown Meat Market, by Application
- Burger Patties
- Hot Dogs & Sausages
- Other Applications
Lab-grown Meat Market, by Distribution Channel
Lab-grown Meat Market, by Geography
- North America
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- Rest of Asia-Pacific (RoAPAC)
- Latin America
- Middle East & Africa
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The key players profiled in the global cultured meat market study are Just, Inc. (U.S.), Mosa Meat (Netherlands), Upside Foods (U.S.), SuperMeat (Israel), Wild Earth Inc. (U.S.), Avant Meats Company Limited (China), Aleph Farms Ltd. (Israel), Biofood Systems Ltd. (Israel), Finless Foods, Inc. (U.S.), Future Meat Technologies Ltd. (Israel), Integriculture Inc. (Japan), Appleton Meats (Canada), Higher Steaks (U.K.), Meatable (Netherlands), BlueNalu, Inc. (U.S.), Shiok Meats (Singapore), Seafuture Sustainable Biotech (Canada), Lab farm Foods (U.S.), Cubiq Foods (Spain), and Granja Celular S.A (Argentina).
The lab-grown meat market is divided into meatballs, burger patties, hot dogs & sausages, nuggets, and other applications based on application. The meatballs segment is expected to have the highest proportion of the lab-grown meat market in 2022. The rising sale of ready-to-cook foods, high demand for convenience foods, and evolving food consumption habit are all factors contributing to this segment's huge market share. During the projection period, however, the burger patties sector is predicted to increase at the quickest CAGR. The increasing popularity of burger patties as ready-to-eat foods, the developing quick-service restaurant sector, and increased innovative product introductions by burger makers are all contributing to this segment's rapid rise.
The lab-grown meat market is divided into two categories based on distribution channels: business-to-business and business-to-consumer. The business-to-business segment of the lab-grown meat industry is expected to account for the highest part of the market in 2022. The rising number of fast-food restaurants and high demand for ready-to-eat meals are responsible for this segment's considerable market share. During the projected period, however, the business-to-customers category is expected to develop at the quickest CAGR. This segment's significant rise can be ascribed to improved shopping experiences, increased internet sales, and an increase in the number of modern grocery stores with higher-quality product selections.
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