A new report from the APAC Society for Cellular Agriculture (APAC-SCA) has revealed that 90.4% of South Koreans are willing to try cultivated meat or seafood products at least once, with 18.9% sharing that they might lean towards cultivated meat over plant-based alternatives. For the industry, this signifies the importance of capturing the long-term interest of consumers who are open to the concept of cultivated meat, to ensure its regular consumption.
The ‘APAC-SCA Consumer Report: Prospect of Cultivated Meat in South Korea’, was conducted in early 2023, and it surveyed 1,110 South Korean consumers. The report aimed to better understand behavioural trends and perceptions of cultivated meats among consumers to support the commericalisation of these products.
According to the report, most South Korean respondents were either supportive (39.4%) or neutral (50.5%) towards the market commercialisation of cultivated meat. More importantly, price, flavour/texture, and nutrition were cited as the top three motivators for consumers to purchase and consume cultivated meat. Environmental concerns followed closely after.
With price points highlighted as a priority consideration, the long term affordability of cultivated meat products would contribute towards its commercial success. Over half (56.8%) of South Korean consumers shared their willingness to consume cultivated meat if it was cheaper than conventional pork, with another quarter (25.3%) of consumers indicating their receptiveness towards cultivated meat if it is cheaper than conventional beef.
Commenting on the findings, Peter Yu, Program Director of APAC-SCA, said it is encouraging that South Korean consumers are welcomed to the idea of incorporating cultivated meats into their consumption and dietary habits. More importantly, the findings also highlight the opportunity and necessity for the government and the industry alike to build towards regulatory approval of cultivated meat in South Korea. “With the rapid advancements in cultivated meat technology over the past decade, many companies have, or will soon possess, the capacity to go to market. Hence, the ability to demonstrate it can be done safely and efficiently is now a primary consideration for the industry.
Considering close to 8 in 10 South Korean consumers indicate that they consume meat or seafood three or more times a week, there is a great opportunity and incentive for the close collaboration between the government and industry to overcome key regulatory challenges, which will in turn drive growth and commericalisation efforts. With the report findings highlighting consumers acceptance towards cultivated meat products, is important that we all work together to advance the industry in South Korea.”
The report also found that:
Plant-based cultivation medium was identified as the top choice for medium among consumers: Respondents had a strong preference towards plant-based medium, followed by ocean microalgae serum and yeast-based medium. In contrast, fetal bovine serum and insect- based medium were ranked among the lowest.
Consumers perceived cultivated meat to be similar to current plant-based alternatives: Over half of the respondents (54.7%) perceived cultivated meat to be similar to the plant-based alternative in the marketplace.
Meat and eggs are the most common source of protein intake: Nearly all consumers shared that meat and eggs are the most common forms of protein consumed. This was closely followed by milk and dairy products, fish and/or seafood and plant-based sources of protein such as tofu and beans.
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APAC-SCA is a collective focused on establishing, implementing, and developing strategic frameworks to spur innovation in the Cellular Agriculture space. Our members are founders of trailblazing ventures invested in advancing cultivated meat and seafood (CMS) to meet the soaring protein demand; for better health, security, and sustainability. Have any questions? Reach out to us at info@apac-sca.org.