Global Meat Extract Market by Type (Beef, Chicken), by Form (Paste, Powder), by Application (Commercial, Industrial) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global meat extract market was valued at USD 14.47 Billion in 2020. It is projected to grow at a compound annual rate (CAGR), of 5.2% between 2021 and 2028. Market growth is expected to be driven by changes in global diet trends and market developments. The market will be driven by rising health awareness and increased consumption of protein-rich foods over the next few year. The market will also grow due to beef's increasing popularity, thanks to its many certifications such as kosher and halal. The Organization for Economic Co-operation and Development, (OECD) predicts that the U.S. will see a significant increase in poultry and livestock production, with an increase in pork, beef, and broiler production.

It also saw some of the largest increases in export volumes in 2019, This will likely increase the production of pork extracts, which is a direct result of the country's growth in meat production. According to USDA Statistics, the global per capita meat consumption will rise at an acceptable rate by 2025. The new products are being developed by processed meat producers, as well as adding new flavor to existing products. Market growth is expected to be driven by innovative launches like meat straws from Benny's Original, in various varieties such as beef straws and pork straws.

According to the FAO data, the global meat production is projected to rise to nearly 366 millions tons by 2029. 76% of the additional output will come from the developing world. High production values are expected to be a result of improved genetics, lower feed costs, and growing demand for meat. The market will benefit from an increase in meat production over the next few years.

Tillamook Country Smoker, Kerry Foods and others have developed new branding strategies and innovative products such as barbecue-flavored meatballs and turkey jerky with pineapple flavor. Market penetration is expected to increase in the meat extract market during the forecast period due to the introduction of new product segments.

Market growth will be supported by the increasing purchasing power of consumers. Due to the fast-track lifestyles in developed and developing countries, there is a greater demand for meat extracts. The market growth is also being boosted by the increasing awareness of consumers about high-nutrition foods.

Tyson Foods, Inc. estimates that the world's consumption of protein rose from 257 billion tonnes in 2013 to 298 trillion tons in 2020. A growing number of Asian Pacific consumers are choosing animal and animal products to get their protein. This will drive product demand in the future.

Type Insights

The market leader in volume was the chicken type segment, which accounted for more than 42% of the total market share in 2020. Due to its easy availability and affordability, the market for chicken meat extracts has a large volume share. Because chicken is high in protein, it is becoming more popular among fitness-conscious consumers. These products are affordable and easy to make, making chicken a popular choice for both consumers and manufacturers.

A rise in RTE and protein-rich foods is expected to drive the pork extracts market segment to a significant growth rate during the forecast period. The segment's growth is expected to be positively influenced by the increased demand for pork extracts due to their superior taste and high nutritional values.

Beef, which is the culinary name of meat from bovine animals, is second in consumption after chicken. Beef extracts are in high demand because there is an increased demand for fresh meat that is not available due to political and environmental factors. Food safety issues, including detection of pathogens and chemical residues in meats such as pork and poultry, are also factors that contribute to the increased consumption.

Form Insights

With a market share of over 52%, the powder form dominated in 2020. The meat extract powder is a rich and potent form of meat stock. It is made from chicken, beef and pork and can be used to make soups and other liquid-based foods. It is insoluble in alcohol, but highly soluble in water. The product has a distinct aroma that gives foods the meaty flavor. The powdered products contain many nutrients such as vitamins, minerals and organic acids. This segment is expected to grow rapidly due to its increasing use in food products as an ingredient to enhance flavor and nutrient.

The meat extract pastes are made from mutton and other meats such as chicken, fish, beef, pork, and can be used to make a variety of products including baked goods, instant noodles and gravies, gravies, bouillons and bouillon cubes. They also have a wide range of uses in food processing, such as soups and pot pies. The paste made from meat extracts enhances the flavor and aroma of food products. Segment growth will be supported by a rising consumer preference for healthier foods prepared with natural flavorings and additives. Companies such as Nikken Foods Co. Ltd. and Carnad A/S focus on R&D on various meat extracts that meet the above concerns.

RTE soups are becoming increasingly popular in North America, particularly the U.S. Low substitution prospects will likely result in stable product sales during the forecast period. Due to a variety of factors such as decreasing household sizes and an increase in the number of workers, there is expected to be a significant rise in demand for concentrates-based meat extractions and stock/broth.

Application Insights

In 2020, the market was dominated by the industrial application segment. It accounted for more than 80% of global revenue. You can use meat extracts from different sources such as beef, pork, lamb, fish and chicken to make a variety of products, including ready-to-eat meals, snacks and soups.

Due to an increase in the number of workers worldwide, the consumption of ready-to-eat (RTE) food products is expected to grow rapidly.

The potential of meat extracts in different forms, including powder, paste, or liquid, has been demonstrated. They can be used to artificially grow microorganisms, primarily for culture and bacterial fermentation. Manufacturers produce their products from fresh meat using hydrolysis, autolysis and concentration.

Commercial applications can include fast-food and full-service restaurants. Chain restaurants or independently own commercial eateries as well as full-service restaurants. These restaurants are not only focused on the quality of their food, but also how they provide services. Fast-food and full service restaurants are dependent on consumers. Companies in these industries look for innovative offerings to grow their businesses, such as limited-time menus or regional specialties.

QSRs also account for a significant share of the commercial segment. Many chain restaurants like Taco Bell and McDonald's have realized that the working population is limited on time and are trying to deliver food quickly. The popularity of heavy breakfast is driving market growth in the commercial segment. Chain restaurants are now including meat extracts on their breakfast menu.

Regional Insights

North America was the dominant regional market in 2020, accounting for 37% of all revenue. Due to rising animal-rich protein consumption, North America will see steady growth over the forecast period. The United States was a major producer of beef, and it is expected to continue its dominance over the next few years. The regional market will be driven by the growing consumption of red meat-based goods in Mexico.

The demand for meat extracts in North America is driven by product traceability. The forecast period will see a rise in demand and consumption for canned foods and technological advancements as major contributors to regional market growth.

The market development in Europe is being driven by a variety of factors, including increasing convenience food consumption, changing lifestyles and an increase in disposable income. With the improvement in economic conditions, and lower prices for these products, beef extracts will see an increase in consumption.

Asia Pacific will be the fastest growing region market during the forecast period due to rising demand for processed and conventional chicken products from emerging countries like India, China, Japan, and China. The market is also driven by rising economic growth, growing consumer preference for healthier food, and increasing disposable income. Asia Pacific is the largest market for chicken powder. Consumers are shifting to other varieties, like pork and fish meat extracts.

Market Share Insights & Key Companies

Companies market their products using customization services. Companies market their products with customization services. This is due to the changing product categories, such as pork, beef, and seafood. Local players also cater to local markets, offering highly customized products and a wide range of recipes. Consumers love their convenience and ease-of-use.

Many companies rely on continuous, uninterrupted flow of raw material such as raw meat. Companies create partnerships, agreements, and ventures with local suppliers to maintain this flow. This ensures that high-quality raw material is available. These types of strategic partnerships ensure that producers have a consistent production schedule. These agreements and strategic partnerships with local suppliers and players can be forged by the industry's top players. This will ensure that there is continuous product supply. The following are some of the most prominent players in the global meat extract industry:

• Givaudan

• Nikken Foods

• Essentia Protein Solutions

• IDF

• Haco Holding AG

• CHIMAB S.p.A.

• Foodex Inti Ingredients, PT

• Titan Biotech Ltd.

• Carnad A/S

• JBS S.A.

Up Market Research published a new report titled “Meat Extract Market research report which is segmented by Type (Beef, Chicken), by Form (Paste, Powder), by Application (Commercial, Industrial), By Players/Companies JBS SA , Givaudan, Foodex Inti Ingredients PT, Titan Biotech Ltd, IDF, Carnad A/S, Haco Holding AG, CHIMAB SpA, Essentia Protein Solutions, Nikken Foods”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Meat Extract Market Report Segments:

The market is segmented by Type (Beef, Chicken), by Form (Paste, Powder), by Application (Commercial, Industrial).

Meat Extract Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Meat Extract Market

Overview of the regional outlook of the Meat Extract Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Meat Extract Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Meat Extract Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Beef

                2. Chicken

                1. Paste

                2. Powder

                1. Commercial

                2. Industrial

9. Market scenario by region, sub-region, and country.
10. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
11. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
12. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Meat Extract Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Meat Extract Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.