The cultured meat market is estimated to be valued at USD 214 million in 2025 and is projected to reach USD 593 million by 2032 in the normal scenario, recording a CAGR of 15.7% during the forecast period. The increasing global population in developing economies coupled with the rising meat consumption is projected to drive the market growth of cultured meat across the globe.
Key players in this market include Memphis Meats (US), MosaMeat (Netherlands), SuperMeat (Israel), Just, Inc (US), Integriculture (Japan), Aleph Farms Ltd (Israel), Finless Foods Inc. (US), Avant Meats Company Limited (China), Balletic Foods (US), Future Meat Technologies Ltd (Israel), Appleton Meats (Canada), Higher Steaks (UK), Biofood Systems LTD (Israel), Fork & Goode (US), Meatable (Netherlands), Mission Barns (US), Bluenalu, Inc. (US), New Age Meats (US), Shiok Meats (Singapore), Seafuture Sustainable Biotech (Canada), Wild Type (US), Lab farm Foods (US), Cubiq Foods (Spain), Kiran Meats (US), and Cell Farm FOOD Tech/Granja Celular S.A (Argentina).
Memphis Meats (US) is one of the largest producers of cultured meat. The company has so far produced beef, chicken, and duck directly from animal cells.
- In February 2016, it produced lab-grown meatballs using blood cells harvested from fetal bovine serum.
- In March 2017, the company added lab-grown chicken and duck in its portfolio.
- In August 2017, Cargill made an undisclosed investment in Memphis Meats, making its entry in the nascent technology of culturing meat from animal cells. Cargill aimed at exploring potential options in the cultured meat segment of the protein market to expand its product portfolio.
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JUST, Inc. (US) is a company developing cultured meat and claims to bring its products at the commercial level by the end of 2018. It will primarily cater to retail and foodservice customers. It comprises a team of 60 R&D members engaged in bringing products from research to the market. In 2015, the company entered into a partnership with Compass Group USA, Inc. (US), a leading foodservice provider, along with strong retail partnerships with Walmart (US), Safeway (US), and Whole Foods (US), which presents future opportunities and a platform to launch its lab-grown meat products.