Dublin, March 21, 2023 (GLOBE NEWSWIRE) -- The "Meat Extract Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global meat extract market grew from $6.27 billion in 2022 to $6.79 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The meat extract market is expected to grow to $8.85 billion in 2027 at a CAGR of 6.9%.
North America was the largest region in the meat extract market in 2022. The regions covered in the meat extract market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Growing demand for protein-rich food products and beverages is expected to fuel the growth of the meat extract market going forward. Protein-rich foods are protein sources derived from plants and animals. It is a source that provides the body with all the amino acids it requires. Meat extract can be used as a protein source in a variety of processed meals, it can lower salt levels in processed foods while enhancing flavour and nutritional value.
For instance, according to a study conducted on more than 6,300 consumers in 12 countries around the world by Kerry Group, an Ireland-based food company, in November 2021, 75% of global consumers said they would pay more for protein-fortified foods and beverages. Therefore, the growing consumer demand for protein-rich food products and beverages drives the meat extract market.
Product innovations have emerged as the key trend gaining popularity in the meat extract market. Major companies operating in the meat extract sector focused on products innovations to bring new methods and procedures for producing meat extract and increasing its applications.
For instance, in June 2021, Essentia Protein Solutions, a US-based protein solutions company, developed C3307 Chicken Flavour, which is higher in protein, lower in carbohydrates, and has no added salt. This chicken flavour is ideal for low-sodium applications that demand a strong chicken flavour. C3307 allows developers to achieve lower salt constraints while still delivering tasty, full-bodied chicken flavours in their completed goods.
In May 2021, Synergy Flavors Inc., a US-based manufacturer of flavorings, extracts, and essences, acquired Innova Flavors for an undisclosed amount. Through this acquisition, Innova clients will have instant access to a proven variety of sweet flavors, extracts, and essences to meet the ongoing need for clean label choices in the intensely competitive food and beverage industry. Innova Flavors is a US-based company that offers customized meat and savory flavors.
Reasons to Purchase
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Scope
Markets Covered
1) By Form: Powder; Liquid; Granules; Paste
2) By Meat: Beef; Chicken; Pork; Lamb; Other Meats
3) By Application: Industrial; Commercial
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $6.79 billion |
| Forecasted Market Value (USD) by 2027 | $8.85 billion |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Meat Extract Market Characteristics
3. Meat Extract Market Trends And Strategies
4. Meat Extract Market - Macro Economic Scenario
5. Meat Extract Market Size And Growth
6. Meat Extract Market Segmentation
7. Meat Extract Market Regional And Country Analysis
8. Asia-Pacific Meat Extract Market
9. China Meat Extract Market
10. India Meat Extract Market
11. Japan Meat Extract Market
12. Australia Meat Extract Market
13. Indonesia Meat Extract Market
14. South Korea Meat Extract Market
15. Western Europe Meat Extract Market
16. UK Meat Extract Market
17. Germany Meat Extract Market
18. France Meat Extract Market
19. Eastern Europe Meat Extract Market
20. Russia Meat Extract Market
21. North America Meat Extract Market
22. USA Meat Extract Market
23. South America Meat Extract Market
24. Brazil Meat Extract Market
25. Middle East Meat Extract Market
26. Africa Meat Extract Market
27. Meat Extract Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Meat Extract Market
29. Meat Extract Market Future Outlook and Potential Analysis
30. Appendix
A selection of companies mentioned in this report includes
- Givaudan
- Haco Holding AG
- International Dehydrated Foods Inc
- Carnad Natural Taste
- Titan Biotech
- Bhagwati Chemical
- Nikken Foods Co Ltd
- Colin Ingredients
- NH Foods Limited
- Inthaco Co Ltd
- Activ International
- Maverick Biosciences Pty Ltd
- Nippon Ham Group
- ARIAKE Japan Co Ltd
- Meioh Bussan Co Ltd
- Kanegrade Limited.
For more information about this report visit https://www.researchandmarkets.com/r/7i2jbp
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