The global meat extract market size was USD 1.63 billion in 2020 andt is projected to grow from USD 1.70 billion in 2021 to USD 2.41 billion in 2028 at a CAGR of 5.11% in the 2021-2028 period.Meat extract, a concentrated form of meat flavor, has gained significant popularity in recent years. Its unique taste-enhancing properties and versatility in various culinary applications have made it a staple ingredient for chefs, food manufacturers, and consumers alike. This article explores the meat extract market, including its current trends, key players, and factors driving its growth.
1) Rising Consumer Preference for Natural Ingredients:
With increasing awareness about health and wellness, consumers are gravitating towards natural and clean label products. Meat extract, derived from natural sources such as beef, chicken, and pork, fits well with this trend. It offers an authentic meat flavor without the need for artificial additives, making it a preferred choice for health-conscious individuals.
2) Expanding Food Industry Applications:
The food industry extensively uses meat extract due to its ability to enhance the taste and aroma of various dishes. It finds applications in soups, sauces, gravies, ready-to-eat meals, snacks, and seasonings. The versatility of meat extract allows food manufacturers to create unique and savory flavor profiles, catering to diverse consumer preferences.
3) Global Market Outlook:
The meat extract market is experiencing robust growth globally. Europe, North America, and Asia Pacific are the leading regions driving market expansion. Increasing disposable income, urbanization, and a growing foodservice sector contribute to the rising demand for meat extract in these regions. Additionally, expanding international cuisines and a preference for rich flavors further bolster the market growth.
Source Link:
https://www.fortunebusinessinsights.com/meat-extract-market-103227
Major Players Profiled in the Report
- Essentia Protein Solutions (U.S.)
- BRF S.A. (Brazil)
- Carnad Natural Taste (Denmark)
- Foodex Ingredients (Indonesia)
- Ariake Japan Co., Ltd. (Japan)
- Symrise AG (Germany)
- JBS S.A. (Brazil)
- Nikken Foods Co., Ltd. (Japan)
- Ajinomoto Co., Inc. (Japan)
- Vina Aroma Food Co., Ltd. (Vietnam)
Key Industry Development
March 2021 – Essentia Protein Solutions launched an expanded product line that includes a variety of broths, stocks, and fats to include high-fat beef broth powder.
