Cell-based Meat Market by Source (Poultry, Beef, Seafood, and Pork), and Product (Ground Meat Products and Cut Meat Products) – Market Potential Assessment (Market Size & Forecast, 2019-2030)

Report ID : 173  |  Published Date : May 2020  |  Pages : 160  |  Region : Global  |  Report Code : FB-17

Cell-based Meat Market Overview and Introduction

Cell-based meat often referred to as cultured meat or clean meat, are grown from actual cells, outside of an animal under laboratory conditions. These products are not synthetic or imitation meat but are genuine animal meat, which replicates the exact nutritional & sensory profile as that of traditional meat. The comparable taste & texture results from the exact arrangement of cells in 3-dimensional structure as that of animal tissues. The first cell-based beef hamburger was curated by Mark Post at Maastricht University in 2013, and since then a large number of companies have made debut with prototypes of different meat sources, such as pork, chicken, and seafood, among others.

Growing population has overwhelmed the entire food production chain, which currently is facing challenges at an unprecedented scale.  To keep up to this growing demand, promising technologies and innovations to manufacture sustainable food products are gaining immense popularity. Similar to plant-based food industry, investments are playing a major role in shaping the global cell-based meat market. As companies are looking to raise Series A and B rounds of funding in the coming years, the future for this industry looks extremely promising. Moreover, adoption of cell-based meat products considerably lowers burden on the requirement of environmental resources and simultaneously eliminates several risks associated with contamination by harmful pathogens & presence of adulterants like antibiotics, among others.

However, the cell-based meat industry is expected to face a wide range of challenges which may hinder its prosperous growth in the coming years. For instance, formulation of a sustainable production method or mechanism to scale up production volume while simultaneously limiting the price prospect for mass market, still remains one of the major challenges faced by this industry. However, research and development and technological advancements in this space can open up the probability of overcoming this challenge. For instance, it is believed that since the inception of Mark Post’s company Mosameat, the company cut its production costs of cell-based beef hamburger by 99.997% from 2013 to 2019. Nevertheless, it is difficult to anticipate a definite timeline and price tag for these products, with majority of them likely to be available at premium price point, especially initially.

The global cell-based meat market is majorly classified into three segments, viz. by source, products and region.

Cell-based Meat Market by Source

The segment of source can be broken down into the following categories, poultry, beef, seafood, pork and other sources. The poultry segment is anticipated to account for the largest share during the forecast period. Factors propelling the growth of this segment can be attributed to lower cost of poultry products as compared to meat products resembling other meat sources, growing popularity of these products among various quick-service restaurants (QSRs), and presence of several major players in this space.

Cell-based Meat Market by Product

On the basis of product, the cell-based meat market is bifurcated into two distinct segments, i.e., ground meat products and cut meat products. The ground meat products is further segmented into nuggets, sausage, meatballs, burgers and other ground meat products. The ground meat product segment is projected to account for the largest share in the global cell-based meat market in the coming years. Its large share is expected to be augmented by strong ground meat product pipeline. Ground meat products are competitively priced and less complex to fabricate as compared to cut meat products. This is another key factor that is expected to drive its demand in the coming years.

Cell-based Meat Market by Region

The global cell-based meat market can be segmented into North America, Asia Pacific, Europe and Rest of World (ROW). North America is anticipated to dominate the global cell-based meat market during the forecast period owing to factors such as growing consciousness regarding lab-grown food products & its minimal impact on environmental sustainability, rising interest from investors in the field of alternative proteins, and growing trend of flexitarian-ism among the population. Moreover, favorable government regulations to fast track cell-based meat  product’s time to market is expected to favorably contribute to the growth of the cell-based market in this region.

Cell-based Meat Market Prominent Players

The prominent players operating in the global cell-based meat market are Aleph Farms, BlueNalu, JUST, Memphis Meats, Mosa Meat, Wild Earth, Future Meat Technologies, Cubiq Foods, New Age Meats, Meatable, among others.