liquid smoke market is expected to expand at a CAGR of 8.1% over the forecast period 2015–2025

Introduction

Smoke ingredients are used in the food industry to add smoke characteristics to food with or without grilling or roasting the food. Liquid smoke is generated by the combustion of hard wood such as maple, beech, oak and hickory. The condensate produced during the combustion process is called liquid smoke. Liquid smoke aids processed food manufacturers to optimize production, improve product characteristics and avoid batch to batch variation of food. It is widely utilised in meat and seafood industry to add flavour and colour through various methods such as atomising, spraying and dipping.

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Market Value and Forecast

The global liquid smoke market was valued at US$ 61.1 Mn in 2014 and is expected to expand at a CAGR of 8.1% during the forecast period (2015–2025). Rising disposable income and increasing customer preference for smoked products such as smoked sausages and salmons are some of the major factors propelling growth of liquid smoke market. Development of unique flavors by liquid smoke manufacturers for product differentiation is a major trend observed in the market. Stringent government regulations governing food safety aspects for both liquid smoke and processed food manufacturers perspective is expected to follow.

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Segmentation by Applications

On the basis of application, the global liquid smoke market is segmented into meat and seafood, sauces, pet food and treats, dairy and others (snacks and bakery and confectionery); among these, meat and seafood segment dominated the global liquid smoke market in 2014 and is anticipated to retain its dominance throughout the forecast period. With growing pet ownership and consumer preference, especially in regions such as North America and Western Europe, for liquid smoke sauces to add barbeque flavour is expected to drive growth of segments such as pet food and treats and sauces, during the forecast period. Growth of these segment is expected to be driven by various advantages offered by liquid smoke such as low overall cost of using liquid smoke for preservation and imparting flavor as compared to conventional methods and low environmental impact.

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Key Regions

The global liquid smoke market includes seven major regions – North America, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan, Eastern Europe, Latin America and Middle East & Africa (MEA). Of all the regions, in terms of value, North America was the largest market for liquid smoke and accounted for 22.0% share of the total liquid smoke market in 2014. This share can be primarily attributed to the wide adoption of liquid smoke across processed meat and seafood manufacturers in this region. Moreover, various multinational companies based in North America are currently focusing on strengthening partnerships with processed food manufacturers and distributors across various region. Latin America is anticipated to emerge as the fastest growing region, followed by APEJ in the liquid smoke market during forecast period.

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Key Players

Some key players identified in global liquid smoke market are Red Arrow International LLC now a Kerry Group Plc entity, MSK Ingredients Ltd., Besmoke Ltd., Baumer Food Inc., B&G Foods Inc., Redbrook Ingredient Services Ltd., Frutarom Savory Solutions Gmbh, Ruitenberg Ingredients BV and Azelis SA. Major liquid smoke manufacturers in the market are focusing on providing a broad and customised range of liquid smoke products to cater to varying customer demands.

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This release was published on openPR.