Cultured Meat Market

The cultured meat market projected to reach 0.2 billion in 2023 and 1.1 billion by 2034, at a CAGR of 16.5% from 2028 to 2034. The market is anticipated to grow at CAGR of 16.1% over the next five years since 2023. The cultured meat market is experiencing robust growth due to a convergence of key factors. Increasing global concerns about sustainability, environmental impact, and animal welfare are driving consumers and investors toward alternative protein sources. Cultured meat offers a more eco-friendly and ethical option by reducing the strain on land, water, and livestock. Additionally, advancements in biotechnology and cell culture techniques are making production more efficient and cost-effective. High-profile investments and collaborations from major food companies and startups are fueling research and development, leading to improved taste and texture. As a result, the cultured meat market is on an upward trajectory, poised to transform the future of food.

Major manufacturers in this market are based in Europe and North America. Mosa Meat (Netherlands), UPSIDE FOODS (US), JUST, Inc. (US), and Integriculture Inc. (Japan), and BioCraft, Inc (US). are among a few leading players operating in the cultured meat market. These players have adopted various growth strategies to strengthen acquisitions and new product development activities to further expand their cultured meat market presence.

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Mosa Meat

Mosa Meat is a Dutch food technology company that is developing a way to produce cultured beef. Established in 2016, the company is involved in the production of cultured meat by harvesting adult stem cells (satellite cells) from the muscle tissue of a living cow, using tissue engineering technology. Mosa Meat's co-founders, Scientist Mark Post and food technician Peter Verstrate, were the first to introduce the world's inaugural cultured beef hamburger, in 2013, following extensive research and an investment of USD 262680.00.

In 2018, Mosa Meat further secured a substantial investment of USD 9.98 million to propel its mission forward. In 2019, the company successfully developed a serum-free medium that aligns with animal welfare principles. Ultimately, in 2020, Mosa Meat established its corporate headquarters in Maastricht, Netherlands. The company is backed by Blue Horizon, M Ventures, Bell Food Group, Nutreco, Mitsubishi Corporation, Leonardo DiCaprio and other notable investors.

In November 2022, Mosa Meat announced an agreement with Singapore-based Esco Aster that would eventually introduce Mosa Meat’s cultivated beef to Singapore. Singapore is currently the only market where cultivated meat is approved, providing a unique and accessible entry point. Thus, the agreement would position Mosa Meat to tap into a pioneering market and expand its global reach.

Upside Foods

Upside Foods is a pioneering food technology company at the forefront of cultivated meat development. Established in 2015 by founders Uma Valeti, Nicholas Genovese, and Will Clem, the company is dedicated to revolutionizing the global meat industry. The company has received  over USD 300 million worth funding from notable investors like Tyson Foods, SoftBank Group, and Temasek, since its establishment.

UPSIDE FOODS has introduced a groundbreaking range of cultured meat products, including the world's first cultivated beef meatball, chicken, and duck. While the initial product release focused on chicken filets, the company is actively developing an expanded product portfolio, including breakfast sausages, chicken patties, and an array of other savory offerings, to cater to diverse consumer preferences and tastes.

Furthermore, the company has established a robust framework to guarantee the safety of its operations and products. It adheres to stringent regulatory standards set forth by the FDA and USDA, including Good Manufacturing Practices (GMP), Hazard Analysis and Critical Control Points (HACCP), comprehensive Ingredient & Material Traceability protocols, and a rigorous Food Defense Program. These measures ensure the highest level of safety and compliance in all aspects of its processes and product offerings.

UPSIDE FOODS has also  formed a formidable coalition of partners, including the Good Food Institute, American Meat Science Association, New Harvest, and the Association for Meat, Poultry, and Seafood Innovation (AMPS Innovation). These esteemed organizations share a common commitment to expanding the positive impact of cultivated meat. Together, they aim to advance the growth and potential of cultivated meat technology, pooling their resources, expertise, and shared dedication to the industry's development.

In 2021, UPSIDE FOODS opened its state-of-the-art Engineering, Production, and Innovation Center (EPIC) in California, establishing it as the world's foremost cultivated meat, poultry, and seafood production facility. EPIC would be able to  manufacture UPSIDE FOODS' current product range and species portfolio, along with those of its recent acquisition, Cultured Decadence. This strategic move not only validates UPSIDE FOODS' versatile multi-species technology platform but also positions the company at the forefront of the cultivated meat industry, enhancing its production capabilities and diversifying its product offerings to cater to evolving consumer demand.In October 2022, GRUPO BIMBO acquired St. Pierre Groupe which is a United Kingdom-based baker of premium brioche-style products with a growing presence in the United States. This acquisition will help to grow the business of the company as it offers a good product line for frozen bakery products.

Eat Just, Inc.

Eat Just, Inc., a privately held firm based in San Francisco, California, US, specializes in the development and promotion of plant-based substitutes for traditionally sourced egg products and cultured meat items. Founded in 2011 by Josh Tetrick and Josh Balk, the company achieved a significant milestone in December 2020 when its cultivated chicken meat, branded as GOOD MEAT, became the inaugural cultured meat product to obtain regulatory clearance in both Singapore and the United States. Presently, it is accessible in specific dining establishments, marking a noteworthy achievement in the emerging field of cultured meat.

In May 2022, Eat Just, Inc., entered into a joint development agreement with ADM. In accordance with the agreement, ADM would build on GOOD Meat's pioneering work to optimize the nutrients required to support cell proliferation. The businesses would also work together on initiatives to produce the ground-breaking cultured meat products from GOOD Meat, beginning with chicken. The scope, depth, and food formulation expertise of ADM would be used to improve the flavor, texture, and other qualities of GOOD Meats pipeline of cultured meat products.

Related Reports:

Cultured Meat Market by Source (Poultry, Beef, Seafood, Pork, Duck), End Use (Nuggets, Burgers, Meatballs, Sausages, Hot Dogs), and Region (North America, Europe, Asia Pacific, South America, Middle East & Africa) - Global Forecast to 2034

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