Global Meat Extract Market Forecast to Reach $9.01 Billion By 2028 With 6.5% Annual Growth

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The global meat extract market has experienced robust growth in recent years, rising from $6.59 billion in 2023 to an estimated $7 billion in 2024, reflecting a CAGR of 6.2%. Historical growth has been driven by the rising demand for ready-to-eat products, the popularity of meaty flavors in diverse cuisines, increased consumption of protein-rich foods, the expansion of processed food options catering to fast-paced lifestyles, and its extensive use in culinary applications.

How Big Is the Global Meat Extract Market Expected to Grow, and What Is Its Annual Growth Rate?

The market is poised for robust growth, projected to reach $9.01 billion by 2028 at a CAGR of 6.5%. Factors driving this growth include the rising demand for natural and clean-label products, increased consumption of protein supplements, growing preference for natural food items, expanding applications in the pharmaceutical industry, and greater use in pet food formulations. Key trends shaping the market include the emergence of plant-based meat extracts, clean and transparent labeling, online retail and direct-to-consumer sales, innovative packaging, and the popularity of gourmet and artisanal products.

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What Is Driving the Growth of the Meat Extract Market?

The rising demand for protein-rich foods and beverages is expected to drive the growth of the market in the coming years. Protein-rich foods, derived from both plant and animal sources, provide essential amino acids for the body. Meat extract serves as a versatile protein source in processed foods, enhancing flavor and nutritional value while reducing salt content. For instance, a November 2021 study by Kerry Group, an Ireland-based food company, revealed that 75% of global consumers are willing to pay more for protein-fortified foods and beverages. Consequently, the increasing consumer demand for protein-rich products is fueling the expansion of the market.

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Which Leading Companies Are Driving The Growth Of The Meat Extract Market Share?

Major companies operating in the 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

What Are The Key Trends Driving The Growth Of The Meat Extract Market Size?

Product innovations are emerging as a key trend in the market. Leading companies in the sector are focusing on developing new methods and applications for meat extract production. For example, in June 2021, Essentia Protein Solutions, a US-based protein solutions provider, introduced C3307 Chicken Flavour. This product is high in protein, low in carbohydrates, and free from added salt, making it ideal for low-sodium applications that require a robust chicken flavor. C3307 helps product developers meet lower salt requirements while maintaining rich, full-bodied flavors in their finished goods.

How Is the Global Meat Extract Market Segmented?

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

North America: The Leading Region in the Meat Extract Market

North America was the largest region in the market in 2023. The regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

What Is the Meat Extract Market?

Meat extract is a concentrated preparation that contains concentrated meat essence. It is a robust and rich variety of meat stock typically obtained from beef, chicken, and pork. Its primary purpose is to add meat flavour in cooking and to prepare the soups and other liquid-based dishes.

The Meat Extract Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Meat Extract Market Report: Trends, Opportunities, Strategies, and More
The Meat Extract Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into meat extract market size, meat extract market drivers and trends, meat extract market major players, meat extract competitors' revenues, meat extract market positioning, and meat extract market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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