The global Meat Extract market size is expected to be worth around US$ 21.80 billion by 2030, according to a new report by Vision Research Reports.
The global Meat Extract market size was valued at US$ 14.57 billion in 2020 and is anticipated to grow at a CAGR of 5.10% during forecast period 2021 to 2030.
The increasing health consciousness among consumers coupled with growing awareness about the importance of protein-rich diets is expected to propel the product demand over the forecast period.
The R&D initiatives undertaken by industry players leading to market development powered by economic growth in the developing countries will support market growth. Meat extracts have various applications in the food industry including, sauces, soup powders, coatings, and seasoning; these applications are increasing both in number and volume as the food industry is introducing new products and expanding into emerging markets.
The beef, chicken, and pork type segments accounted for more than 88% of the global volume share in 2020 and are expected to retain similar market capitalization over the forecast period. This growth is credited to the high acceptance and consumption of meats by consumers across the globe. The demand for beef extracts is expected to increase due to the increasing use of the meat to enhance the nutritional value of the products, as it contains nucleotides, minerals & vitamins, organic acids, and amino acids & peptides.
North America was the dominant region in 2020 and is expected to retain its position over the forecast period on account of increased consumption of convenience & Ready-To-Eat (RTE) meals. Asia Pacific is expected to be the fastest-growing regional market over the forecast period as a result of the westernization of diets, rising disposable income levels, and rapid urbanization in emerging economies, such as India and China. The rising focus on leading a healthy and active lifestyle is boosting the sales of products that include meat extracts, which is also boosting the regional market growth.
In terms of volume, the chicken type segment led the market and accounted for a share of more than 42% in 2020. The increasing demand for poultry and poultry products due to the easy availability and affordable rates has contributed to the large volume share of the global chicken meat extracts market. Chicken has gained increased popularity among fitness-savvy consumers as it has high protein content compared to most other common meat products. The low cost of these products and their manufacturing has made chicken an effective choice for manufacturers and consumers.
The pork extracts segment is anticipated to observe a significant growth rate over the forecast period on account of an increase in demand for protein-rich and RTE foods. The rise in demand for pork extracts owing to better taste and high nutritional value is expected to positively influence the segment growth over the forecast period.
Beef is the culinary name for meat obtained from bovine animals and is the second most-consumed meat after chicken. The demand for beef extracts is increasing as there is a high demand for fresh meat without equivalent supply caused by political and environmental factors. Other factors contributing to increased consumption of beef extracts are food safety issues including pathogen detection and chemical residues in other meats, such as poultry and pork.
The powder form led the market in 2020 with a revenue share of more than 52%. Meat extract powder is a potent and rich form of meat stock, which is obtained from chicken, beef, pork, and fish, and is used to make broth for soups and liquid-based foods. The product is insoluble in alcohol while being highly soluble in water and has a distinctly characterized aroma that gives food products the aroma of meaty flavor. The powdered products are rich in nutrients, such as organic acids, vitamins, minerals, nucleotides, polypeptides, amino acids, creatinine, and creatine. The segment is expected to show high growth prospects over the forecast period due to its increased use in food products as a flavor & nutrient enhancer.
Meat extract pastes are derived from mutton, fish, chicken, beef, and pork and are widely used in the manufacturing of baked & puffed goods, instant noodles, gravies, bouillons & bouillon cubes, canned meat items, pot pies, casseroles, stews, sauces, and soups. The meat extracts-based paste adds aroma and enhances the flavors of food products. Rising consumer preference for healthy foods that are prepared using natural additives or flavorings will support segment growth. Companies, such as Nikken Foods Co. Ltd., Carnad A/S, and BRF, focus on R&D activities on varied formulations of meat extracts that adhere to the aforementioned concerns of consumers.
In North America, especially in the U.S., the consumer demand for RTE soups is increasing with the products being an essential part of the American household. In addition, low substitution prospects are likely to result in stable product sales over the forecast period. The industry is anticipated to witness significant growth in demand for concentrates-based meat extracts and stock/broth due to various factors, such as decreasing average household size and increasing number of working individuals.
The industrial application segment dominated the global market in 2020 and accounted for a revenue share of over 80%. Meat extracts obtained from sources, such as pork, beef, lamb, fish, and chicken, are used for manufacturing various products including sauces, soups, soup powders, seasonings, coatings, bouillon cubes, nuggets, and stock powder.
The consumption of instant food items, such as Ready-To-Eat (RTE) foods, is expected to witness high growth over the coming years due to the increasing number of working professionals globally.
Meat extracts in their distinguished form, such as powder, paste, and liquid, have shown potential as raw materials that can be used for artificially growing microorganisms, primarily for bacterial fermentation and culture. The manufacturers are producing their products from fresh meat by hydrolysis, autolysis, concentration, and separation among other high-tech microbiological refined soluble paste products for biopharmaceutical fermentation.
The commercial applications include full-service and fast-food restaurants. Commercial eateries and full-service restaurants are either independently owned or owned by chain restaurants. Apart from the dining experience, these places also consider their services and food quality. Therefore, fast-food and full-service restaurants are consumer-dependent and companies in these industries opt for creative offerings to grow their business, such as offering limited-time menus and regional specialties.
In addition, Quick Service Restaurants (QSRs) account for a major share in the commercial segment as numerous chain restaurants, such as McDonald’s and Taco Bell, have realized the time scarcity of the working population and are striving to provide timely delivery of food. As the concept of heavy breakfast has become extremely popular, the chain restaurants are increasingly including meat extracts in their breakfast menu, driving the market growth in the commercial application segment.
North America was the most dominant regional market in 2020 and accounted for a revenue share of over 37%. North America is expected to show steady growth over the forecast period owing to the rising consumption of animal-rich protein sources. In addition, the U.S. was one of the leading producers of beef and is expected to maintain its position over the forecast years. Growing consumption of red meat-based products in Mexico is expected to drive the regional market.
Product traceability is a major drift that exhibits the demand for meat extracts in North America. A rise in the demand for and consumption of canned foods, increasing population, and new technological improvements are some major factors anticipated to contribute to the regional market growth over the forecast period.
Factors, such as increasing demand for convenience food, changing lifestyles, and rise in consumer disposable income, are contributing to the market development in Europe. The consumption of beef extracts is expected to increase with the improving economic conditions and due to lower prices of these products.
Asia Pacific is expected to be the fastest-growing regional market over the forecast period owing to the rising consumption of processed and conventional chicken products in emerging countries, such as Japan, China, and India. Other factors driving the regional market include increasing economic growth, rising consumer preference for healthy food, and growing disposable income levels. Moreover, Asia Pacific is considered the largest consumer base for chicken powder. However, consumers are now increasingly shifting their preferences towards other variants, such as pork and fish meat extracts.
Essentia Protein Solutions
Haco Holding AG
Foodex Inti Ingredients, PT
Titan Biotech Ltd.
Central & South America (CSA)
Middle East & Africa (MEA)
The Meat Extract market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Meat Extract market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Meat Extract market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Meat Extract market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Meat Extract market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Meat Extract capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Meat Extract by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Meat Extract market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Meat Extract market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Meat Extract market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Meat Extract industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Meat Extract market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Meat Extract market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Meat Extract market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Meat Extract market. These factors have benefited the growth of the global market for Meat Extract. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Meat Extract. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Meat Extract are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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