Meat paste Market Driven by Increasing Consumption of Meat Based Products
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Market Segmentation: Meat paste
The Meat paste market is segmented on the basis of its raw material as dried beef, chicken, Korean pheasant, etc. As a source of protein beef and chicken are mainly used as a paste to enhance the flavor and taste of the food. Thus the market demand for chicken and beef based meat paste is higher than that of other raw materials.
The Meat paste market is further segmented on the basis of end-user as for human consumption and animal feed. Human consumption of meat paste is in non-veg soups, food products such as hot dog, sandwich etc. Increasing demand for healthy and trendy food items such as healthy chicken paste based sandwich and soups is expected drive market demand for meat paste for human consumption. Consumption of these meat paste-based products is increasing demand due to its taste and flavor-enhancing the property. In animal feed, meat paste is used in order to increase the taste of the food and provide animals with proteins and other healthy nutrients. Thus, increasing number of animal husbandry and pet cradle trend are expected to drive market demand for meat paste in animal feed applications.
The Meat paste market is segmented on the basis of regions as North America, Latin America, Europe, Asia Pacific & Japan, and the Middle East and Africa.
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Global Meat paste Market: Regional Outlook
Depending on geographies global meat paste market is segmented into five key regions: North America, Latin America, Europe, Asia Pacific & Japan, and the Middle East and Africa. In Asia Pacific regional market Australia grabs major shares in consumption of meat paste followed by the U.S. in the North America market. Europe is also one of the leading consumers of meat paste as a result of increasing population of consumers eating meat-based products. Countries such as China, Korea, South Africa and Saudi Arabia were observed as increasing demand in past few years and meat paste market demand is expected to grow significantly over the forecast period. Meat paste market is growing rapidly and global meat paste market is expected to expand at significant CAGR over the forecast period as a result of its increasing application in food products as a protein-rich ingredient.
Global Meat paste Market: Drivers and Trends
Meat paste market demand is high due to its various application in the food industry as a taste enhancer and flavoring agent. Increasing consumption of meat based products is driving market demand for meat paste. Health conscious consumers are leaning towards meat-based products for protein and nutrient content. The trend of pet cradle is increasing globally which is another major driver of growing demand for meat paste based animal feed. Meat paste is a source of protein which makes it popular in health-conscious consumers as well as in fitness trainers, as a result increasing awareness about various health benefits associated with consumption of meat paste is increasing its demand in global market.
Global Meat paste: Key Players
Some of the key players identified across the value chain of the global Meat paste market include Unilever, Asmi International Private Limited, Vision Mark Biotech, Apple Flavors & Fragrances USA Corp., Jardox Ltd., few of the retailers in meat paste market value chain includes Tesco, Sainsbury's etc.
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