Meat Extract Market - Size, Industry Trends, Competitive Landscape, and Opportunities and Forecast 2022 - 2030
The Global Meat Extract Market Size accounted for USD 2,834 Million in 2021 and is anticipated to reach USD 5,253 Million by 2030 with a CAGR of 7.2% from 2022 to 2030.
Meat extract, typically made from beef, is a highly concentrated form of meat stock. It is used to flavour meat in food and to make drinking broth. Protein content in meat extract is extremely high. Because people are now more concerned with their health, there is a rising demand for food products that are high in protein. As a flavoring ingredient for soups, sauces, stews, pot pies, and other foods, meat extract is also employed. It is thought to enhance the product's flavor. The rising demand for processed food ingredients is primarily to blame for the wide usage of beef and other meat extracts. Yeast extract and bouillon cubes and have largely taken the place of meat extracts in cooking. Currently, some meat extract brands, including Oxo and Bovril, also include yeast extract.
The concentrated essence of meat is present in meat extract. It is a flavorful type of meat stock made from sources like beef, chicken, pork, seafood, and others that come from animals. Meat extract is high in protein and has many health advantages, including enhancing immune function, constructing and repairing strong muscles, bones, skin, and blood cells, among others.
Animal-sourced meat extract is a good source of proteins. These proteins are hydrolyzed to form peptides and amino acids. Animals' bone, muscle, skin, and pancreas are good sources of animal protein. Additionally, only these parts of animals are used to make meat extract. It was suitable for consumption by people. Nutrients like amino acids, creatine, creatinine, minerals, nucleotides, organic acids, polypeptides, and vitamins are abundant in meat extract.
The extraordinary nutritional value of meat extracts and their widespread use in microbiology as culture media are two factors that are expected to drive the growth of the global meat extract market. However, the market's expansion may be hampered by strict regulations imposed by governmental bodies.
The three categories of the global meat extract market are type, form, application, and region. The segmentation based on the type includes beef, chicken, fish, pork, turkey, and others. Based on form, the market is categorized into granules, liquid, paste, and powder. Furthermore, commercial and industrial are among the application segments included in the segmentation. In terms of type, the chicken segment is anticipated to hold a sizable market share in the years to come. Due to their widespread availability and low prices, poultry and poultry products are in higher demand, which has helped the global market for meat extracts expand.
Additionally, powder form has historically led the market in terms of form and is anticipated to follow a similar pattern in the years to come. Making broth for soups and other liquid-based foods requires the use of meat extract powder, a potent and rich form of meat stock made from chicken, pork, beef, and fish. Additionally, based on application, the market for meat extract is anticipated to grow most rapidly in the industrial application segment.
Global Meat Extract Market Geographical Competition
The North American, European, Latin American, Asian-Pacific, and Middle Eastern & African regions make up the five geographical segments of the global Meat Extract market. Due to the rising consumption of protein-rich animal sources, North America is predicted to grow steadily over the forecast period. The U.S. was also among the top producers of beef, and it is anticipated that it will continue to be so over the forecasted years. Due to the rising consumption of conventional and processed chicken products in developing nations like Japan, China, and India, the Asia Pacific region is anticipated to experience the fastest growth during the forecast period.
Global Meat Extract Industry Segment Analysis
Market By Type
Market By Form
Market By Application
Meat Extract Market Leading Companies
This section of the study honors the market's top vendors ARIAKE Japan Co., Ltd, Carnad A/S, Colin Ingredients, Essentia Protein Solutions, Givaudan, Innova Flavors (Griffith Foods Inc.), JBS Global (UK) Ltd., Meioh Bussan Co., Ltd., NH Foods Australia Pty Ltd., Nikken Foods Co., Ltd., and Proliant Inc.
Meat Extract Market Regions
· Rest of Europe
· Rest of Latin America
· South Korea
· Rest of Asia-Pacific
Middle East & Africa
· South Africa
· Rest of Middle East & Africa