ID: MRFR/F-B & N/6731-HCR | 90 Pages | Published By Snehal Singh on March 2023
Global lab-based meat market size is predicted to reach USD 22.8 million with a growing CAGR of 5.5% from 2022 - 2030
2022 - 2030
During the forecast period, the global lab-based meat market size is predicted to reach USD 22.6 million with a growing CAGR of 5.3%.
Lab-based meat is also known as cultured meat, clean meat, in vitro meat, and synthetic meat which is produced by the in-vitro cultivation of animal cells. By accumulating the cells from animals and develop them in an enriched and favorable culture medium, lab-based meat will be produced. As it is grown in an aseptic and strictly controlled environment, the final meat produced is free from any harmful organisms.
This meat has various advantages over conventional meat such as being environmental-friendly, healthy, and free from food food-borne and nutrition-related diseases. The production of this cultured meat reduces the sacrification of animals, the land, water, and energy usage reductions. Moreover, a great man Abdul Qahir Qamar belonging to the International Islamic Fiqh Academy states that “cultured meat will not be considered meat from live animals, but will be cultured meat” which is increasing the demand for the global cultured market. The cells are derived from dogs, pigs, and other haram animals, and their meat is considered vegetative and is similar to yogurt and other fermented pickles.
Before the COVID-19 pandemic occurs, the lab-based market is in high demand over the global market. But due to the COVID-19, the lockdowns and regulations imposed by the government lead to a decline in the market. To control the spread of the coronavirus, the government has imposed stringent regulations like semi or full lockdowns, maintaining social distance, business sectors, and education sectors off, limited visits to out, and many more.
The consumption of meat was highly declined for the first two quarters of 2020 due to the spreading of the virus was very fast and people wish to stay in their houses itself and also most of them avoids non-vegetarian and outside foods to control the spread. But later due to the awareness among the consumers regarding the health consciousness behind the nutrient foods and the need of increasing immunity as the high immuned persons cannot suffer severely with coronavirus. Rapidly, the growth of the lab-based meat market increases.
Increasing meat consumption, rising demand for alternative proteins by food processors, focus on environmental sustainability, and technological innovations in cellular agriculture are the major factors driving the growth of the lab-based meat market. The rising demand and supply gap for meat results in focusing on alternative meat sources. The rise in growth potential and expectancy of high-profit realization leads to an increase in investments for the lab-based market. The rate of urbanization followed by per capita income is one of the driving factors of meat consumption. This cultured meat becomes very popular compared to the traditional method as the cultured meat requires less land by 99%, 90% less water, and 45% less energy compared to traditional one.
From the muscle tissue of the Vitro meat culture, various types of processed meat products are manufactured which opposes the traditional method of slaughtering animals. Hence it is predicted to propel the growth of the market. This meat is produced through Vivo cultivation of live animals adult muscle stem cells that result in muscle tissue with high nutrients growth culture medium. This feature is more advantageous than the traditional method and is expected to boost the lab-based market growth.
Rising consumer preference for plant-based protein, high capital, and lack of awareness among consumers regarding the benefits of lab-based meat is hindering the market growth. Manufacturing of this meat is very expensive and stringent regulations are restraining the market.
Launching innovations and research on cultured meat products may create opportunities to accelerate the growth of the lab-based meat market.
Consumer skepticism toward lab-based meat is one of the major challenges faced by key players. To develop the high cost-effective growth media for feeding cells, to develop better scaffolding materials that can shape generated tissues into meat and bioreactor platforms which increases the production of lab-based meat on a larger scale. High investment is required to the production of cultured meat is the major challenge of the market.
Study Objectives -
Regional Market Summary
Global Lab-Based Meat Market Share (%), by Region, 2021
Source: Secondary Sources and MRFR Analysis
The global lab-based meat market has been divided into segments based on source, end-use, and region.
Based on Source
The global lab-based meat market based on the source is classified into pork, poultry, beef, and others. Out of these sources, the poultry segment is predicted to hold the largest market share due to its high consumer preference and easy culturing for poultry across the globe.
Based on End-Use
Based on End-Use, the lab-based meat market globally has been segmented into meatballs, nuggets, burgers, hot dogs, and others. Among them, nuggets are expected to account for the largest lab-based market share as it is the most preferable snack in North America and European countries.
Based on Region
The global lab-based meat market is regionally has been studied regarding four key regions which are Europe, Asia-Pacific, North America, and the rest of the world. Among these regions, North America is dominating the lab-based market due to the growing demand for clean meat products and the increasing adoption of cultured meat.
Regional Analysis -
Region-wise, the global lab-based market is analyzed into Asia-Pacific, North America, Europe, and the rest of the world. Owing to its growing demand for clean meat products and the increasing adoption of cultured meat, North America is in the leading position in the lab-based market during the review period. Due to the huge number of flexitarians with the acceptance and openness of meat substitutes in metropolitan areas is expected to boost the growth of the market in the US and Canada.
The prominent key players in the lab-based meat market trends are the following:
This global lab-based meat market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the lab-based meat market drivers, restraints, challenges, and opportunities. The lab-based meat market forecast segments are the source, end-use, and region.
The lab-based meat market trends have been segmented globally based on the source, end-use, and region.
Pork, poultry, beef, and others.
Nuggets, burgers, meatballs, hot dogs, and others.
Asia-Pacific, Europe, North America, and the rest of the world are the major geographies included in this lab-based meat market.
Lab-based meat market is projected to grow at approximately 5.3% CAGR during the assessment period (2019-2027).
Lab-based meat market is estimated to reach a valuation of approx. USD 22.6 MN by the end of 2027.
Based on source, the poultry segment and based on end use, the nuggets segment holds the major share the global Lab-based meat market.
North America holds the largest share in the global lab-based meat market, followed by Europe and Asia Pacific, respectively.
Finless Foods (US), Mosameat (Netherlands), Just, Inc. (US), Memphis Meats (US), SuperMeat (Israel), Integriculture Inc. (Japan), Future Meat Technologies (Israel), Biotech Foods (Spain), Aleph Farm (Israel), and Higher Steaks (UK), are some of the top players operating in the global lab-based meat market.