Growth in preference for healthier and more sustainable meat alternatives owing to consumer awareness about the environment and ethical concerns associated with traditional meat production is fueling the Southeast Asia cultivated meat market growth.
Food establishments such as restaurants are striving to offer innovative and socially responsible menu options, which in turn drives the Southeast Asia cultivated meat market demand. Advantages associated with cultivated meat include animal welfare, health benefits, food safety, and environment- friendly attributes.
Stringent government policies and regulations are expected to become more supportive and conducive in the future. This in turn is likely to drive market progress. Product launch, seeking approvals in other markets, and constructing larger production facilities, are the key strategies followed by major players operating in this market.
Cultivated meat also called cultured or lab-grown meat, is authentic meat made from animal cells. By producing this type of meat, it becomes unnecessary to cultivate or kill animals for food.
The traditional sensory and nutritional properties are found in cultivated meats. Producers of cultivated meat take a little portion of an animal and select the most suitable cells. Since they are the foundation of meat, the producers carefully select only the best cells.
After that, the producers culture cells and grow the meat in a closed environment with the help of growth mediums such as carbohydrates, fats, amino acids, and vitamins. Poultry, beef, pork, and seafood are the various types of cultivated meat that is produced.
| Attribute | Detail |
|---|---|
| Drivers |
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As a sustainable and ethical alternative to conventional meat production methods, cultivated meat or lab-grown meat is seen as an alternative source of protein. By cultivating animal cells in a regulated environment instead of killing animals, this new option of producing meat is gathering steam.
Meeting the surge in demand for protein while minimizing the negative consequences associated with conventional meat production, and ensuring animal welfare & and food security are addressed by cultivated meat.
Furthermore, health consciousness among consumers is fueling the demand for cultivated meat owing to its advantages over conventional sources of protein.
Cultivated meat is produced without using any antibiotics and hormones and hence is more beneficial than conventional meat. Since it is produced without the use of live animals that can transmit disease, cultivated meat has the potential to reduce the risk of contamination and food-borne diseases such as salmonella and other intestinal pathogens.
Although cultivated meat has the same nutritional value as farm-raised meat, the advantage of cultivated meat is that its growth medium may be changed to include certain vitamins and nutrients, thus improving the meat's nutritional quality.
This modification may enhance the cultivated meat's nutritional profile. Thus, consumer preferences and behavior regarding cultivated meat alternatives is expected to fuel the growth of lab-grown meat in Southeast Asia in the next few years.
The seafood industry has issues with overfishing, pollution, and deterioration of the marine habitat. According to The Nature Conservancy, global fish stocks are diminishing, as around 90% of fisheries worldwide are overexploited.
A declining fisheries sector can have a detrimental impact on the environment and the population in emerging nations such as Indonesia as seafood is a major source of food for millions of people in the country.
Bluefin tuna also known as “wagyu beef of the sea” is famous for its marbled texture, buttery flavor, and status as one of the most prized fish in the sea.
However, throughout the last few decades, overfishing and illegal fishing have severely affected the Bluefin tuna. Consequently, countries such as Indonesia are expected to tighten the regulations of tuna harvesting.
Cultivated meat specialized companies are working on producing cultivated seafood to meet the growing gap between demand and supply of seafood. For instance, BlueNalu, Inc. is focusing on producing seafood made by cell technology.
Hence, scarcity in the supply of seafood is expected to offer ample Southeast Asia cultivated meat market opportunities by offering varieties of cultivated seafood in the near future.
The Southeast Asia cultivated meat market segmentation based on type includes poultry, beef, pork, seafood, and others (duck, etc.). The poultry segment held the largest share in the year 2023.
The growth in demand for chicken is fueling market dynamics in the region. According to the Singapore Food Agency (SFA), chicken accounted for largest supply to Singapore with a total of 229,400 tons of chicken in 2022 by Brazil, Malaysia, and the U.S. as major source countries.
It is expected that a similar trend will be followed in the Southeast Asia cultivated meat market. Moreover, the popularity of chicken in various food products such as burgers, and other foods is leading to its dominance in the market.
However, the Southeast Asia cultivated meat market share of the seafood segment is expected to grow significantly during the forecast period owing to the rapidly declining population of species in the sea.
| Attribute | Detail |
|---|---|
| Leading Country | Singapore |
As per the latest Southeast Asia cultivated meat market forecast, Singapore held largest share in 2023. Singapore is the first country in the world to give approval to the sales of cultivated or lab-grown meat and the only one in Southeast Asia as of 2023.
Besides, consumers in Singapore are environmentally conscious and view cultivated meat as a potential solution to reduce concerns about the effects of traditional agriculture on the environment. Hence, the country is dominating the Southeast Asia cultivated meat industry.
Other countries in Southeast Asia including Malaysia and Thailand are in the development phase of setting regulatory guidelines related to cultivated meat production and supply.
The Southeast Asia cultivated meat market report highlights that majority of companies are spending significantly on expanding their presence, primarily where governments have approved the sale of cultivated meat.
Product approvals and diversifying product offerings are the key strategies adopted by players operating in the market, which in turn is expected to bolster the Southeast Asia cultivated meat industry growth during the forecast period.
Aleph Farms, Believer Meats, BlueNalu, Inc., Clear Meat, Eat Just, Inc., Ivy Farm Technologies Ltd., Mosa Meat, Shiok Meats Pte. Ltd., UPSIDE Foods, and Vow are the prominent Southeast Asia cultivated meat market manufacturers.
Key players have been profiled in the Southeast Asia cultivated meat market research report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.
| Attribute | Detail |
|---|---|
| Market Size Value in 2023 (Base Year) | US$ 99.4 Mn |
| Market Forecast Value in 2034 | US$ 2.3 Bn |
| Growth Rate (CAGR) | 34.6% |
| Forecast Period | 2024-2034 |
| Historical data Available for | 2020-2022 |
| Quantitative Units | US$ Mn/Bn for Value and Kg for Volume |
| Market Analysis | Regional qualitative analysis includes drivers, restraints, opportunities, key trends, key market indicators, Porter’s Five Forces analysis, value chain analysis, SWOT analysis, etc. Furthermore, at the regional level, qualitative analysis includes key trends, price trends, and key supplier analysis. |
| Competition Landscape |
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| Countries Covered |
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| Market Segmentation |
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| Companies Profiled |
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| Customization Scope | Available upon Request |
| Pricing | Available upon Request |
It was valued at US$ 99.4 Mn in 2023
It is expected to reach US$ 2.3 Bn by the end of 2034
Surge in demand for alternative protein sources and scarcity in the supply of seafood
The poultry segment contributed the largest share in 2023
Singapore accounted for about 100% in terms of share in 2023
Aleph Farms, Believer Meats, BlueNalu, Inc., Clear Meat, Eat Just, Inc., Ivy Farm Technologies Ltd., Mosa Meat, Shiok Meats Pte. Ltd., UPSIDE Foods, and Vow
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions
3. Research Methodology
4. Executive Summary
5. Market Overview
5.1. Market Dynamics
5.1.1. Drivers
5.1.2. Restraints
5.1.3. Opportunities
5.2. Key Trends Analysis
5.2.1. Demand Side Analysis
5.2.2. Supply Side Analysis
5.3. Key Market Indicators
5.4. Porter’s Five Forces Analysis
5.5. Value Chain Analysis
5.6. Standards & Regulations
5.7. PESTEL Analysis
5.8. Southeast Asia Cultivated Meat Market Analysis and Forecast, 2020-2034
5.8.1. Market Value Projections (US$ Mn)
5.8.2. Market Volume Projections (Kg)
6. Southeast Asia Cultivated Meat Market Analysis and Forecast, by Type
6.1. Southeast Asia Cultivated Meat Market Size (US$ Mn and Kg), By Type, 2020-2034
6.1.1. Poultry
6.1.2. Beef
6.1.3. Pork
6.1.4. Seafood
6.1.5. Others (Duck, Etc.)
6.2. Incremental Opportunity Analysis, by Type
7. Southeast Asia Cultivated Meat Market Analysis and Forecast, by End-use
7.1. Southeast Asia Cultivated Meat Market Size (US$ Mn and Kg), By End-use, 2020-2034
7.1.1. Food Industry
7.1.2. Restaurants/Fast Food Chains
7.1.3. Processed Foods
7.1.4. Others (Hotels, Etc.)
7.2. Incremental Opportunity Analysis, by End-use
8. Southeast Asia Cultivated Meat Market Analysis and Forecast, by Distribution Channel
8.1. Southeast Asia Cultivated Meat Market Size (US$ Mn and Kg), By Distribution Channel, 2020-2034
8.1.1. Online
8.1.2. Offline
8.1.2.1. Direct Sales
8.1.2.2. Indirect Sales
8.2. Incremental Opportunity Analysis, by Distribution Channel
9. Southeast Asia Cultivated Meat Market Analysis and Forecast, by Country
9.1. Southeast Asia Cultivated Meat Market Size (US$ Mn and Kg), By Country, 2020-2034
9.1.1. Malaysia
9.1.2. Singapore
9.1.3. Thailand
9.1.4. Rest of Southeast Asia
9.2. Incremental Opportunity Analysis, by Country
10. Malaysia Cultivated Meat Market Analysis and Forecast
10.1. Country Snapshot
10.2. Demographic Overview
10.3. Market Share Analysis (%)
10.4. Consumer Buying Behavior Analysis
10.5. Key Trends Analysis
10.5.1. Demand Side Analysis
10.5.2. Supply Side Analysis
10.6. Price Trend Analysis
10.6.1. Weighted Average Selling Price (US$)
10.7. Cultivated Meat Market Size (US$ Mn and Kg), By Type, 2020-2034
10.7.1. Poultry
10.7.2. Beef
10.7.3. Pork
10.7.4. Seafood
10.7.5. Others (Duck, Etc.)
10.8. Cultivated Meat Market Size (US$ Mn and Kg), By End-use, 2020-2034
10.8.1. Food Industry
10.8.2. Restaurants/Fast Food Chains
10.8.3. Processed Foods
10.8.4. Others (Hotels, Etc.)
10.9. Cultivated Meat Market Size (US$ Mn and Kg), By Distribution Channel, 2020-2034
10.9.1. Online
10.9.2. Offline
10.9.2.1. Direct Sales
10.9.2.2. Indirect Sales
10.10. Incremental Opportunity Analysis
11. Singapore Cultivated Meat Market Analysis and Forecast
11.1. Country Snapshot
11.2. Demographic Overview
11.3. Market Share Analysis (%)
11.4. Consumer Buying Behavior Analysis
11.5. Key Trends Analysis
11.5.1. Demand Side Analysis
11.5.2. Supply Side Analysis
11.6. Price Trend Analysis
11.6.1. Weighted Average Selling Price (US$)
11.7. Cultivated Meat Market Size (US$ Mn and Kg), By Type, 2020-2034
11.7.1. Poultry
11.7.2. Beef
11.7.3. Pork
11.7.4. Seafood
11.7.5. Others (Duck, Etc.)
11.8. Cultivated Meat Market Size (US$ Mn and Kg), By End-use, 2020-2034
11.8.1. Food Industry
11.8.2. Restaurants/Fast Food Chains
11.8.3. Processed Foods
11.8.4. Others (Hotels, Etc.)
11.9. Cultivated Meat Market Size (US$ Mn and Kg), By Distribution Channel, 2020-2034
11.9.1. Online
11.9.2. Offline
11.9.2.1. Direct Sales
11.9.2.2. Indirect Sales
11.10. Incremental Opportunity Analysis
12. Thailand Cultivated Meat Market Analysis and Forecast
12.1. Country Snapshot
12.2. Demographic Overview
12.3. Market Share Analysis (%)
12.4. Consumer Buying Behavior Analysis
12.5. Key Trends Analysis
12.5.1. Demand Side Analysis
12.5.2. Supply Side Analysis
12.6. Price Trend Analysis
12.6.1. Weighted Average Selling Price (US$)
12.7. Cultivated Meat Market Size (US$ Mn and Kg), By Type, 2020-2034
12.7.1. Poultry
12.7.2. Beef
12.7.3. Pork
12.7.4. Seafood
12.7.5. Others (Duck, Etc.)
12.8. Cultivated Meat Market Size (US$ Mn and Kg), By End-use, 2020-2034
12.8.1. Food Industry
12.8.2. Restaurants/Fast Food Chains
12.8.3. Processed Foods
12.8.4. Others (Hotels, Etc.)
12.9. Cultivated Meat Market Size (US$ Mn and Kg), By Distribution Channel, 2020-2034
12.9.1. Online
12.9.2. Offline
12.9.2.1. Direct Sales
12.9.2.2. Indirect Sales
12.10. Incremental Opportunity Analysis
13. Competition Landscape
13.1. Market Player - Competition Dashboard
13.2. Market Share Analysis (%), by Brand 2023
13.3. Company Profiles
13.3.1. Aleph Farms
13.3.1.1. Company Overview
13.3.1.2. Sales Area/Geographical Presence
13.3.1.3. Product Portfolio
13.3.1.4. Key Financials
13.3.1.5. Strategy & Business Overview
13.3.2. Believer Meats
13.3.2.1. Company Overview
13.3.2.2. Sales Area/Geographical Presence
13.3.2.3. Product Portfolio
13.3.2.4. Key Financials
13.3.2.5. Strategy & Business Overview
13.3.3. BlueNalu, Inc.
13.3.3.1. Company Overview
13.3.3.2. Sales Area/Geographical Presence
13.3.3.3. Product Portfolio
13.3.3.4. Key Financials
13.3.3.5. Strategy & Business Overview
13.3.4. Clear Meat
13.3.4.1. Company Overview
13.3.4.2. Sales Area/Geographical Presence
13.3.4.3. Product Portfolio
13.3.4.4. Key Financials
13.3.4.5. Strategy & Business Overview
13.3.5. Eat Just, Inc.
13.3.5.1. Company Overview
13.3.5.2. Sales Area/Geographical Presence
13.3.5.3. Product Portfolio
13.3.5.4. Key Financials
13.3.5.5. Strategy & Business Overview
13.3.6. Ivy Farm Technologies Ltd.
13.3.6.1. Company Overview
13.3.6.2. Sales Area/Geographical Presence
13.3.6.3. Product Portfolio
13.3.6.4. Key Financials
13.3.6.5. Strategy & Business Overview
13.3.7. Mosa Meat
13.3.7.1. Company Overview
13.3.7.2. Sales Area/Geographical Presence
13.3.7.3. Product Portfolio
13.3.7.4. Key Financials
13.3.7.5. Strategy & Business Overview
13.3.8. Shiok Meats Pte. Ltd.
13.3.8.1. Company Overview
13.3.8.2. Sales Area/Geographical Presence
13.3.8.3. Product Portfolio
13.3.8.4. Key Financials
13.3.8.5. Strategy & Business Overview
13.3.9. UPSIDE Foods
13.3.9.1. Company Overview
13.3.9.2. Sales Area/Geographical Presence
13.3.9.3. Product Portfolio
13.3.9.4. Key Financials
13.3.9.5. Strategy & Business Overview
13.3.10. Vow
13.3.10.1. Company Overview
13.3.10.2. Sales Area/Geographical Presence
13.3.10.3. Product Portfolio
13.3.10.4. Key Financials
13.3.10.5. Strategy & Business Overview
13.3.11. Other Key Players
13.3.11.1. Company Overview
13.3.11.2. Sales Area/Geographical Presence
13.3.11.3. Product Portfolio
13.3.11.4. Key Financials
13.3.11.5. Strategy & Business Overview
14. Go To Market Strategy
14.1. Who Sells to Whom?
List of Tables
Table 01: Southeast Asia Cultivated Meat Market Value, By Type, US$ Mn, 2020-2034
Table 02: Southeast Asia Cultivated Meat Market Volume, By Type, Kg, 2020-2034
Table 03: Southeast Asia Cultivated Meat Market Value, By End-use, US$ Mn, 2020-2034
Table 04: Southeast Asia Cultivated Meat Market Volume, By End-use, Kg, 2020-2034
Table 05: Southeast Asia Cultivated Meat Market Value, By Distribution Channel, US$ Mn, 2020-2034
Table 06: Southeast Asia Cultivated Meat Market Volume, By Distribution Channel, Kg, 2020-2034
Table 07: Southeast Asia Cultivated Meat Market Value, By Country, US$ Mn, 2020-2034
Table 08: Southeast Asia Cultivated Meat Market Volume, By Country, Kg, 2020-2034
Table 09: Malaysia Cultivated Meat Market Value, By Type, US$ Mn, 2020-2034
Table 10: Malaysia Cultivated Meat Market Volume, By Type, Kg, 2020-2034
Table 11: Malaysia Cultivated Meat Market Value, By End-use, US$ Mn, 2020-2034
Table 12: Malaysia Cultivated Meat Market Volume, By End-use, Kg, 2020-2034
Table 13: Malaysia Cultivated Meat Market Value, By Distribution Channel, US$ Mn, 2020-2034
Table 14: Malaysia Cultivated Meat Market Volume, By Distribution Channel, Kg, 2020-2034
Table 15: Singapore Cultivated Meat Market Value, By Type, US$ Mn, 2020-2034
Table 16: Singapore Cultivated Meat Market Volume, By Type, Kg, 2020-2034
Table 17: Singapore Cultivated Meat Market Value, By End-use, US$ Mn, 2020-2034
Table 18: Singapore Cultivated Meat Market Volume, By End-use, Kg, 2020-2034
Table 19: Singapore Cultivated Meat Market Value, By Distribution Channel, US$ Mn, 2020-2034
Table 20: Singapore Cultivated Meat Market Volume, By Distribution Channel, Kg, 2020-2034
Table 21: Thailand Cultivated Meat Market Value, By Type, US$ Mn, 2020-2034
Table 22: Thailand Cultivated Meat Market Volume, By Type, Kg, 2020-2034
Table 23: Thailand Cultivated Meat Market Value, By End-use, US$ Mn, 2020-2034
Table 24: Thailand Cultivated Meat Market Volume, By End-use, Kg, 2020-2034
Table 25: Thailand Cultivated Meat Market Value, By Distribution Channel, US$ Mn, 2020-2034
Table 26: Thailand Cultivated Meat Market Volume, By Distribution Channel, Kg, 2020-2034
List of Figures
Figure 01: Southeast Asia Cultivated Meat Market Value, By Type, US$ Mn, 2020-2034
Figure 02: Southeast Asia Cultivated Meat Market Volume, By Type, Kg, 2020-2034
Figure 03: Southeast Asia Cultivated Meat Market Incremental Opportunity, By Type, 2024-2034
Figure 04: Southeast Asia Cultivated Meat Market Value, By End-use, US$ Mn, 2020-2034
Figure 05: Southeast Asia Cultivated Meat Market Volume, By End-use, Kg, 2020-2034
Figure 06: Southeast Asia Cultivated Meat Market Incremental Opportunity, By End-use, 2024-2034
Figure 07: Southeast Asia Cultivated Meat Market Value, By Distribution Channel, US$ Mn, 2020-2034
Figure 08: Southeast Asia Cultivated Meat Market Volume, By Distribution Channel, Kg, 2020-2034
Figure 09: Southeast Asia Cultivated Meat Market Incremental Opportunity, By Distribution Channel, 2024-2034
Figure 10: Southeast Asia Cultivated Meat Market Value, By Country, US$ Mn, 2020-2034
Figure 11: Southeast Asia Cultivated Meat Market Volume, By Country, Kg, 2020-2034
Figure 12: Southeast Asia Cultivated Meat Market Incremental Opportunity, By Country, 2024-2034
Figure 13: Malaysia Cultivated Meat Market Value, By Type, US$ Mn, 2020-2034
Figure 14: Malaysia Cultivated Meat Market Volume, By Type, Kg, 2020-2034
Figure 15: Malaysia Cultivated Meat Market Incremental Opportunity, By Type, 2024-2034
Figure 16: Malaysia Cultivated Meat Market Value, By End-use, US$ Mn, 2020-2034
Figure 17: Malaysia Cultivated Meat Market Volume, By End-use, Kg, 2020-2034
Figure 18: Malaysia Cultivated Meat Market Incremental Opportunity, By End-use, 2024-2034
Figure 19: Malaysia Cultivated Meat Market Value, By Distribution Channel, US$ Mn, 2020-2034
Figure 20: Malaysia Cultivated Meat Market Volume, By Distribution Channel, Kg, 2020-2034
Figure 21: Malaysia Cultivated Meat Market Incremental Opportunity, By Distribution Channel, 2024-2034
Figure 22: Singapore Cultivated Meat Market Value, By Type, US$ Mn, 2020-2034
Figure 23: Singapore Cultivated Meat Market Volume, By Type, Kg, 2020-2034
Figure 24: Singapore Cultivated Meat Market Incremental Opportunity, By Type, 2024-2034
Figure 25: Singapore Cultivated Meat Market Value, By End-use, US$ Mn, 2020-2034
Figure 26: Singapore Cultivated Meat Market Volume, By End-use, Kg, 2020-2034
Figure 27: Singapore Cultivated Meat Market Incremental Opportunity, By End-use, 2024-2034
Figure 28: Singapore Cultivated Meat Market Value, By Distribution Channel, US$ Mn, 2020-2034
Figure 29: Singapore Cultivated Meat Market Volume, By Distribution Channel, Kg, 2020-2034
Figure 30: Singapore Cultivated Meat Market Incremental Opportunity, By Distribution Channel, 2024-2034
Figure 31: Thailand Cultivated Meat Market Value, By Type, US$ Mn, 2020-2034
Figure 32: Thailand Cultivated Meat Market Volume, By Type, Kg, 2020-2034
Figure 33: Thailand Cultivated Meat Market Incremental Opportunity, By Type, 2024-2034
Figure 34: Thailand Cultivated Meat Market Value, By End-use, US$ Mn, 2020-2034
Figure 35: Thailand Cultivated Meat Market Volume, By End-use, Kg, 2020-2034
Figure 36: Thailand Cultivated Meat Market Incremental Opportunity, By End-use, 2024-2034
Figure 37: Thailand Cultivated Meat Market Value, By Distribution Channel, US$ Mn, 2020-2034
Figure 38: Thailand Cultivated Meat Market Volume, By Distribution Channel, Kg, 2020-2034
Figure 39: Thailand Cultivated Meat Market Incremental Opportunity, By Distribution Channel, 2024-2034
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Southeast Asia Cultivated Meat Market
