Lab-grown Meat Market to Reach $1.99 Billion By 2035, at a CAGR of 21.4% from 2025 to 2035 - Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Meticulous Research®

REDDING, Calif., Nov. 21, 2022 /PRNewswire/ -- According to a new market research report titled, 'Lab-grown Meat Market by Type (Beef, Poultry, Pork, Seafood), Distribution Channel (Business-to-Business, Business-to-Consumer), Application (Nuggets, Burger Patties, Meatballs, Steak, Hot Dogs & Sausages), and Geography - Global Forecast to 2035', the lab-grown meat market/ cultured meat market is projected to reach $1.99 billion by 2035, at a CAGR of 21.4% from 2025 to 2035.

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Lab-grown meat is one of the most sustainable and carbon-improved alternatives to conventional meat production, requiring comparatively 7-45% lower energy, 78-96% reduction of GHG footprint, 99% lower land, and 82-96% lower water. The growth of this market is backed by the growing focus on animal welfare, the increasing demand for animal-based processed food products, and the increasing demand for allergen-free foods.

However, the high demand for plant-based proteins and the growing vegan population are expected to restrain the growth of this market to some extent in the near future.

Increasing Venture Investments in the Lab-Grown Meat Industry/ Cultured Meat Market

In recent years, the global livestock industry has been subjected to immense scrutiny due to the scale of its environmental, ethical, and human health impacts. Nowadays, the advantages of lab-grown meat over farm meat products, such as lower greenhouse gas emissions, higher nutritional value, and slaughter-free production, have piqued consumers' interest in lab-grown meat products. According to Good Food Institute, Inc., around 80% of people in the U.S. and the U.K. are more interested in lab-grown meat than in field/conventional meat. Moreover, with the rising demand for lab-grown meat, meat product manufacturers are investing heavily in the research & development of lab-grown meat. Companies across the food value chain, from producers to retailers, are also investing in the lab-grown meat industry. Some companies hedge against or prepare for the demand for animal products to decline and invest in companies that produce alternatives. Market players have received investments or funding from several high-profile individuals, financial investors, and companies in the last few years. In 2020, the lab-grown meat industry contracted due to the outbreak of the COVID-19 pandemic; however, in 2021, the industry's investor base grew by 62%, reaching 458 unique investors, and the total investment capital raised reached USD 1,930.0 million (Source: GFI Report). Most of the investment (more than one-third of the global investment) in lab-grown meat is concentrated in Israel.

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Some of the investments and deals in the lab-grown meat industry are mentioned below:

• In 2021, Future Meat Technologies Ltd. (Israel) announced that the funding received by the company would be used to construct overseas lab-grown meat production facilities.
• In July 2021, Aleph Farms (Israel) secured USD 100.0 million in a Series B funding round. The funding will be used to scale up manufacturing and grow operations.
• In 2021, BlueNalu, Inc. (U.S.) raised USD 60.0 million to enable the completion of its commercial pilot facility for producing cell-based seafood.
• In 2022, CellMEAT (South Korea) secured USD 8.1 million (KRW 10 billion) in a Series A funding round. The funding will help CellMEAT to continue the R&D of its lab-grown shrimp, ramp up the pilot production of its prototype shrimp to 10 kilograms/day from 5 kilograms/day, and expand its offerings to other cultivated seafood, including crustaceans, such as lobsters and crabs.
• In April 2022, Upside Foods (U.S.) secured USD 400 million in a Series C funding round, which will be used for building a commercial-scale facility, educating consumers, and building robust & cost-effective supply chain infrastructure for cell feed (media) and other inputs.
• Such investments are expected to drive the growth of the lab-grown meat market.

Based on type, the global lab-grown meat market is segmented into beef, poultry, pork, seafood, and other lab-grown meat types. In 2025, the beef segment is expected to account for the largest share of the lab-grown meat market. The large market share of this segment is mainly attributed to the popularity of beef products in various quick-service restaurants. Additionally, it is comparatively cheaper than other types of lab-grown meat products. This segment is also projected to register the highest CAGR during the forecast period. The growing demand for beef as a major source of protein, increasing awareness of protein consumption through high nutritional food, and growing preference for beef over other meats owing to various diseases associated with poultry and pork are expected to boost the growth of this market.

Based on distribution channel, the global lab-grown meat market/ cultured meat market is segmented into business-to-business and business-to-consumer. In 2025, the business-to-business segment is expected to account for the largest share of the lab-grown meat market. The large market share of this segment is primarily attributed to the growing demand for meat-based products from foodservice industries and approvals received by restaurants to sell lab-grown meat meals in some countries. This segment is also projected to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to consumers' curiosity to try lab-grown meat-based products and the increasing interest of quick service restaurants (QSRs) in serving lab-grown meat products to their customers.

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Based on application, the global lab-grown meat market is segmented into nuggets, burger patties, meatballs, steak, hot dogs & sausages, and other applications. In 2025, the nuggets segment is expected to account for the largest share of the cultured meat market. The large market share of this segment is attributed to the increasing adoption of on-the-go lifestyles, the growing demand for snacking products, and the increasing demand for frozen products. The increasing developments in on-the-go food products make nuggets a preferred option for consumers. However, the burger patties segment is projected to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the rising popularity of hamburgers in the U.S., which is anticipated to boost the segment's growth.

Based on geography, in 2025, North America is expected to account for the largest share of the lab-grown meat market. The large share of this market is attributed to the increasing awareness regarding the importance of protein-rich diets, the increasing technological advancements & new product innovations in the F&B industry, the fast-growing economy, the strong demand for meat & meat products, the increasing adoption of on-the-go lifestyle & consumption of snacking products, increased consumption of convenience food products, and a rising number of flexitarians.

Some of the key players operating in the lab-grown meat market/ cultured meat market are Aleph Farms Ltd. (Israel), Avant Meats Company Limited (China), Ants Innovate Pte Ltd (Singapore), BlueNalu, Inc.(U.S.), ClearMeat (India), Finless Foods, Inc. (U.S.), Future Meat Technologies Ltd. (Israel), Higher Steaks (U.K), Lab Farm Foods, Inc.(U.S.), Meatable B.V.(Netherlands), Mosa Meat B.V. (Netherlands), MIRAI FOODS AG (Switzerland), Shiok Meats Pte Ltd (Singapore), SUPERMEAT THE ESSENCE OF MEAT LTD (Israel), Upside Foods, Inc. (U.S.), and Orbillion Bio, Inc (U.S).

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Scope of the Report:

Lab-grown Meat Market, by Type                     

• Beef
• Poultry
• Pork
• Seafood
• Other Lab-grown Meat Types

Lab-grown Meat Market, by Distribution Channel        

• Business-to-Business
• Business-to-Consumer

Lab-grown Meat Market, by Application                       

• Nuggets
• Burger Patties
• Meatballs
• Steak
• Hot Dogs & Sausages
• Other Applications

Lab-grown Meat Market, by Geography

• North America
• U.S.
• Canada
• Europe
• U.K.
• Netherlands
• Spain
• Germany
• Rest of Europe (RoE)
• Asia-Pacific (APAC)
• China
• Singapore
• Japan
• India
• Rest of Asia-Pacific (RoAPAC)
• Latin America
• Middle East & Africa

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