Meat-Based Flavors Market Growth Expected to Reach $6 Billion by 2031: Givaudan SA, Symrise AG

The meat-based flavors industry was valued at $3.4 billion in 2021, and is estimated to reach $6 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031.

Meat-based flavors are widely used in the food industry to enhance the taste & aroma of a variety of foods, including meat products, soups, sauces, and snacks. They come from natural sources, such as meat extracts and spices, as well as synthetic ingredients that mimic the taste & aroma of meat.

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Meat-based flavorings are generally considered safe when used within limits approved by regulatory agencies such as the Food and Drug Administration (FDA) in the U.S. and the European Food Safety Authority (EFSA) in Europe. However, the FDA recognizes that some people may have specific food allergies or dietary restrictions, and it is important for food manufacturers to accurately label all meat flavorings used in their products. The FDA mandates that all food products sold in the U.S. be accurately labeled with all ingredients, including flavorings used which increases the meat-based flavors market size.

Moreover, increase in demand for ethnic flavors surges the growth of meat-based flavor market. In addition, many ethnic cuisines, such as Chinese, Korean, and Mexican cuisine, rely heavily on the flavors of the meat to create their signature dishes. As consumers become more interested in new & exotic flavors, they are likely to seek out meat flavor options that can help replicate the authentic flavors of these ethnic dishes such factor surge the meat-based flavors market share. For instance, a Mexican-style seasoning might include meat-based flavors such as paprika and cumin, while a Korean barbecue sauce might have meat flavors such as soy sauce, garlic, and coconut oil.

As consumers switch to plant-based diets and still often crave the taste of meat. Meat-based flavorings and seasonings with meat can give plant-based dishes a similar to meat and satisfying taste, making them more appealing to those new to a plant-based diet or trying to cut down on their meat intake. In addition, as more companies enter the meat substitute market, there is growth in demand for the use of meat flavors in these products. These flavors help mimic the taste and texture of meat, making the product more appealing to consumers looking for alternatives to traditional meat products.

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Health trends have led many people to adopt plant-based diets such as vegetarian, vegan, and flexitarian diets. Meat-based flavor companies are catering to the market by offering vegan-friendly meat seasonings, such as plant-based meat substitutes that mimic the taste of beef, chicken, or pork. These products serve as meat substitutes in plant-based meat dishes, providing consumers with a more satisfying and flavorful experience. In addition, meat seasoning companies offer vegan dressings and seasonings that can be used to enhance the flavor of plant-based foods such as vegetables, grains, and legumes. This may help increase the appeal of plant-based foods for consumers as well as for those looking for exciting new taste options.

Increase in demand for ready-to-eat meals & fast food is a key driver for the meat-based flavor industry across the globe. Moreover, innovative technologies, introduction of new flavors, and heavy inflow of investment in R&D activities in meat substitute products are the other factors that supplement the growth of the meat-based flavor market. There is an upcoming trend of using natural flavors, owing to rise in health awareness. Furthermore, high demand for meat-based flavors across European countries to produce commercialized clean-label or green food products that are free of additives and other harmful chemicals propel the growth of the market.

International flavors have grown in popularity in recent years, and this trend has affected the meat flavor market. One of the main reasons for this trend is growth in consumer interest in exploring new, exotic flavors from around the globe. These include flavors such as Korean barbecue, Mexican asada, and Indian tandoori, all of which are popular meat flavors. This has led to increase in demand for meat seasoning products with international flavors, thereby strengthening the market growth.

The meat-based flavors market analysis into type, flavor, application, and region. By type, the market is bifurcated into natural meat-based flavor and artificial meat-based flavor. As per flavor, the market is divided into chicken, beef, pork, turkey, fish & seafood, and others. Depending on application, the market is classified into baked goods, soups & sauces, savory, ready meals, processed meat, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Russia, Spain, Italy, and the rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, ASEAN, and rest of Asia-Pacific), and LAMEA (Brazil, Chile, Argentina, Saudi Arabia, UAE, South Africa, and rest of LAMEA).

By type, the natural meat-based flavor segment accounted for more than 60.9% of the market share in terms of revenue in 2021. This growth is attributed to the fact that natural meat-based flavors are used to enhance the flavor & aroma of various foods, especially meat products. Natural meat flavors are obtained by processing meat or meat products through various methods such as fermentation, enzymatic hydrolysis, or extraction, and contain compounds that give them their unique taste & aroma, reuslts in meat-based flavors market opportunities.

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Depending on flavor, the beef segment led the market and accounted for more than 28.4% of the global market in 2021. Further, it is expected to maintain its dominance during the forecast period. Beef flavor is a key ingredient in meat flavor and is often used to enhance the flavor of other meat or vegetarian products. In the meat-based flavor market, beef flavor is one of the most popular flavors, along with chicken, pork, and seafood which helps to the meat-based flavors market growth.

As per application, the soups & sauces segment led the market by accounting for more than 29.4% of the market in 2021, and is expected to maintain its dominance during the forecast period. Soups & sauces are essential components of the meat-based flavor market, as they are used to enhance the flavor and texture of meat dishes, and are used in various forms such as stews, and roasts results in meat-based flavors market trends.

Region-wise, North America was the largest market in 2021 and had the highest market share of 34.2%. The North America market for meat-based flavors has been growing steadily over the years. This growth is attributed to several factors, including increase in demand for convenience foods, rise of the foodservice industry, and the growth in popularity of ethnic cuisine results in meat-based flavors market demand.

Some of the key players profiled in the meat-based flavor market analysis include Essentia Protein Solutions Firmenich SA, H.E. Stringer Flavours Limited, Fooding Group Limited, Givaudan SA, Symrise AG, T. Hasegawa Co., Ltd., Kerry Group plc, International Flavors & Fragrances Inc., Koninklijke DSM N.V., Calaf Nuances S.L., P.A. Aromatics Flavors S.r.l., Archer-Daniels-Midland Company, Nikken Foods Co., Ltd., and Sensient Technologies Corporation.

Key findings of the study

By type, the natural meat-based flavor segment is projected to witness the highest CAGR of 5.5%, in revenue terms, during the meat-based flavors market forecast period.
Depending on flavor, the chicken segment is expected to grow at a significant CAGR of 6.2% during the forecast period.
As per application, the ready meal segment is projected to witness the highest CAGR of 6.5%, in revenue terms, during the forecast period.
On the basis of region, Asia-Pacific is anticipated to witness the highest growth rate, registering a CAGR of 7.1% from 2022 to 2031.

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