Meat Extract Market Size, Share, Growth, Trends and Industry Analysis Report, 2019 to 2025

The global meat extract market size was valued at USD 21.8 billion in 2018 and is expected to accelerate at a CAGR of 3.5% over the forecast period.

(firmenpresse) - The global meat extracts market size is projected to reach USD 27.7 billion by 2025, denoting a CAGR of 3.5% over the forecast period, according to a new report by Grand View Research, Inc. Factors such as population expansion in developing economies and double-income families are expected to contribute to the rising preference for packaged ready-to-eat meat products, which is further anticipated to boost the demand for meat extracts over the forecast period.

Growing demand for meat products as a key source of protein in China and increasing disposable incomes are anticipated to drive the consumption of meat extract oils over the forecast period. In addition, favorable government initiatives pertaining to the food industry are expected to remain an important driving factor in the near future.

Consumers are focusing on food products that are sustainable, healthy, and are not prepared using synthetic flavorings or additives. Keeping this in mind, companies, such as BRF Ingredients; Carnad A/S; and Nikken Foods Co., Ltd., through their intensive and ongoing research & development activities, have introduced variable formulations to address the aforementioned concerns of consumers. Aforementioned trends are anticipated to boost the demand for meat extracts market in the near future.

The market in Asia Pacific is anticipated to witness the fastest growth rate over the forecast period. Urbanization, westernization of diets, population expansion, and growing middle-class with high disposable incomes, increasing frequency of exercise, and rising focus on leading an active & healthy lifestyle in the emerging economies including China and India are expected to drive the demand for meat extracts. The demand for the extracts in various forms is rising in Japan owing to rapid westernization and increasing consumer demand for ready-to-eat as well as convenience food products.

The market is highly competitive and is driven by product offerings and consumer demand. Companies engaged in manufacturing meat extracts are also opting for backward integration across the value chain to ensure and enhance the quality of the raw materials. Givaudan, Haco Holding AG; International Dehydrated Foods, Inc.; Carnad Natural Taste; Titan Biotech; and Bhagwati Chemicals are the major manufacturers of meat extracts in the market.

Further key findings from the report suggest:

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Datum: 07.11.2019 - 04:39 Uhr
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Date of sending: 07.11.2019
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