Meat Extract Market (By Type: Chicken, Pork, Beef, Fish, Turkey, Others; By Form: Powder, Paste, Liquid, Granules; By Application: Industrial, Commercial) - Global Industry Analysis, Market Size, Opportunities and Forecast 2020 - 2027
The global meat extract market is expected to grow at a CAGR of around 7.2% from 2020 to 2027 and expected to reach the market value of around US$ 4,186.3 Mn by 2027.
Meat extract is manufactured from meat with low fat and sinew content and can be considered as complementing the nutritive properties of peptone by contributing minerals, phosphates, energy sources, and those essential factors missing from peptone. Meat extract is the common flavoring additive for soups, stews, sauces, casseroles, canned meat items, and others where meat flavoring improves the product quality. The flavor of meat extracts makes it a desirable additive to a variety of products. The percentage of the meat extract needed for flavoring varies depending on the food to which it is being added and generally falls in the range of 5-25%.
Growth Factors
Rising consumption of protein-rich diet and health consciousness drives the global meat extract market
Meat consumption, according to the Organization for Economic Co-operation and Development, is related to living standards, diet, livestock production, consumer prices, and macroeconomic uncertainty and shocks to gross domestic product (GDP). Meat has a high production cost and a high output price when compared to other commodities. Furthermore, meat demand is associated with higher incomes and a shift in food consumption opportunities due to urbanization that favors increased protein from animal sources in diets. With the global meat industry offer food and livelihood for billions of population, it has significant environmental and health consequences. This indicator is presented for beef and veal, pig, poultry, and sheep.
Stringent government decisions pinpointing food safety and trading drives the global meat extract market
Meat food products (MFPs) have been defined as any article of food that's been derived from meat through the processes of drying, curing, smoking, cooking, seasoning, and others. It should not include meat extracts, meat consommé and stock, meat sauces, and other products unless the manufacturer wishes to be covered by the provisions of the said order. The Central Government established a Meat Food Products Advisory Committee, which appointed the licensing authority and had the authority to refuse or grant a license to any applicant. Reasons were jotted down. The license was valid for 12 months. Renewal of a license was required. The Secretary of State for the Department of Environment, Food, and Rural Affairs, on the other hand, was in charge of the trade in animals and related products, as authorized by Regulation 15 (5) of the Trade in Animals and Related Products Regulation 2011. Meat extracts, meat concentrates, and any meat extract or meat concentrate component in a food that is fully compliant with EU import rules are included in the products. Furthermore, any products covered by this authorization that are fully compliant with the relevant EU import rules do not require this authorization. In fact, they must enter the EU at a Border Inspection Post where they will be subjected to veterinary checks.
Increasing demand for meat extract in food and feed biological research laboratories bolster the growth of global meat extract market
The benefits associated with its nutritional content, demand for meat extract is increasing rapidly in the food and feed industry. As the majority of people demand convenient but nutritious food products, there is a growing demand for meat extracts as end products in food. Even though meat extracts have a high nutritional value, they have a wide range of applications in the food processing industry. Meat extract is used as a flavoring agent in a variety of broths and beverages in the food industry. Furthermore, because meat extract contains unique properties such as flavor enhancers, it has a wide range of applications in food additives and processed food products. In addition, meat extract is widely used in microbiology lab testing to replace aqueous infusion of meat in microbiological culture media. Because meat extract is typically used at concentrations ranging from 0.3 to 1.0% in culture media preparation, its concentration varies depending on the nutritional requirements for medium formulations.
Segmental Analysis
The global meat extract market is segmented as type, form, and application. By type, the market is segmented as chicken, pork, beef, fish, turkey, and others. Based on form, the market is segregated as powder, paste, liquid, and granules. By application, the market is bifurcated into industrial and commercial.
Based on type, chicken segment is expected to account for significant market share in the forthcoming years. Rising demand for poultry and poultry products owing to easy availability and affordable rates have contributed to the growth of global meat extract market. Chicken has gained significant attention in the global market among fitness savvy consumers due to its high protein content as compared to other common meat products. Further, based on form, powder form has led the market on the forefront from the past and is projected to continue similar trend in the forthcoming years. As meat extract powder is a potent and rich form of meat stock, that is obtained from chicken, pork, beef, and fish it is used to make broth for soup and liquid based food products. Additionally, powder has specific characteristics of high solubility in water and distinct aroma that gives food products the aroma of meaty flavor. Furthermore, based on application, industrial application segment is expected to account reasonable market share for the growth of meat extract market. As meat extracts obtained from animal sources such as beef, pork, fish, lamb, and chicken are used for manufacturing various products that involve snacks, ready meals, soups, soups powder, coatings, boullion cubes, and stock powders.
Regional Overview
North America has traditionally dominated the global meat extract market and is expected to do so again during the forecast period. Rising consumption of animal-rich protein sources is one of the major factors driving regional growth. Furthermore, the United States was a leading producer of beef and is expected to maintain its lead in the coming years. Product traceability is another critical factor driving the growth of meat extract in North America. Increasing demand for canned foods and new technological advancements are two supportive factors that will contribute significantly to regional market growth over the forecast period. On the other hand, Asia Pacific is expected to be the fastest growing regional market for meat extracts in the coming years. Factors such as rising demand for processed and conventional chicken products specifically in markets such as China, Japan, and India drives the global meat extract market.
Competitive Landscape
Key players of meat extract market involve Givaudan, Nikken Foods, Essentia Protein Solutions, Carnad A/S, Colin Ingredients, JBS Global (UK) Ltd., NH Foods Australia Pty Ltd., Proliant Inc., ARIAKE Japan Co., Ltd, Meioh Bussan Co., Ltd., Nikken Foods Co., Ltd., Innova Flavors (Griffith Foods Inc.), and among others
Market Segmentation
Market By Type
Chicken
Pork
Beef
Fish
Turkey
Others
Market By Form
Powder
Paste
Liquid
Granules
Market By Application
Industrial
Commercial
Market By Geography
North America
• U.S.
• Canada
Europe
• U.K.
• Germany
• France
• Spain
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific
Latin America
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa
• GCC
• South Africa
• Rest of Middle East & Africa
Frequently Asked Questions
What will be the market value of the meat extract market?
Meat extract market is expected to reach a market value of around US$ 4,816.3 Mn by 2027.
At what CAGR, the meat extract market is expected to grow during the forecast period (2020-2027)?
The meat extract market is expected to grow at a CAGR of around 7.2% from 2020 to 2027.
Which is the leading segment in the meat extract market?
Based on type, chicken system segment is the leading segment in the overall market.
What are the key drivers of the meat extract market?
Rising consumption of protein-rich diet and health consciousness is one of the prominent factors that drive the demand for meat extract market.
Which are the prominent players in the meat extract market?
Givaudan, Nikken Foods, Essentia Protein Solutions, Carnad A/S, Colin Ingredients, JBS Global (UK) Ltd., NH Foods Australia Pty Ltd., Proliant Inc., ARIAKE Japan Co., Ltd, Meioh Bussan Co., Ltd., Nikken Foods Co., Ltd., Innova Flavors (Griffith Foods Inc.), and among others.
Which region held the highest market share in the meat extract market?
North America is anticipated to grab the highest market share in the regional market
Which region is expected to be the fastest growing market over the forecast period?
Asia Pacific is expected to be the fastest growing market in the forthcoming years
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