Meat Extract Global Market Report 2024 by The Business Research Company | Givaudan SA, Haco Holding AG, International Dehydrated Foods Inc., Carnad A/S, Titan Biotech Ltd., Bhagwati Chemicals, Nikken Foods Co Ltd., Colin Ingredients SAS, NH Foods Limited,

The meat extract market size has grown strongly in recent years. It will grow from $6.59 billion in 2023 to $7 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to increased demand for ready-to-eat, increased popularity of meaty flavor in various food preparations, increased demand for protein-rich food products, rise in processed foods due to fast-paced lifestyles, increased use in culinary traditions.

The meat extract market size is expected to see strong growth in the next few years. It will grow to $9.01 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to increasing demand for natural and clean label products, increasing demand for protein supplements, growing demand for natural food products, rising demand for meat extract in the pharmaceutical industry, increasing demand for meat extract in pet food products. Major trends in the forecast period include plant-based meat extracts, clean and transparent labeling, online retail and direct-to-consumer sales, innovative packaging solutions, gourmet and artisanal products.

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Meat Extract Market Major Segments
The meat extract market covered in this report is segmented -

1) By Form: Powder, Liquid, Granules, Paste
2) By Meat: Beef, Chicken, Pork, Lamb, Other Meats
3) By Application: Industrial, Commercial

Key Driver - Rising Consumer Appetite For Protein-Enriched Food And Beverages Boosts The Meat Extract Market

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 growth of the meat extract market.

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Prominent Trend - Innovative Product Developments Lead The Way In 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.

Meat Extract Market Players
Major companies operating in the meat extract market include Givaudan SA, Haco Holding AG, International Dehydrated Foods Inc., Carnad A/S, Titan Biotech Ltd., Bhagwati Chemicals, Nikken Foods Co Ltd., Colin Ingredients SAS, NH Foods Limited, Inthaco Co Ltd., Activ International SA, Maverick Biosciences Pty Ltd., Nippon Ham Group, ARIAKE Japan Co Ltd., Meioh Bussan Co Ltd., Kanegrade Limited., BRF S.A., Cargill Incorporated, Clemens Food Group, Conagra Brands Inc., Hormel Foods Corporation, Joesley Batista Sobrinho S.A., Minerva Foods SA, Tyson Foods Inc., Smithfield Foods Inc., Sanderson Farms Inc., Perdue Farms Inc., Pilgrim's Pride Corporation, OSI Group LLC, Marfrig Global Foods S.A., Danish Crown A/S, Tönnies Holding GmbH & Co. KG, Vion Food Group, Westfleisch SCE mbH, H. J. Heinz Company, Nestle S.A., Unilever Group, Kerry Group, Tate & Lyle PLC, Symrise AG, Firmenich SA, International Flavors & Fragrances Inc., Mane SA

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Largest And Fastest Growing Region In The Market
North America was the largest region in the meat extract market in 2023. The regions covered in the meat extract market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Meat Extract Market Report Structure
3. Meat Extract Market Trends And Strategies
4. Meat Extract Market - Macro Economic Scenario
5. Meat Extract Market Size And Growth
…..
27. Meat Extract Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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