Meat Extract Global Market Report 2024

The Meat Extract Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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https://www.thebusinessresearchcompany.com/report/meat-extract-global-market-report

According to The Business Research Company’s Meat Extract Global Market Report 2024, The meat extract market size has grown strongly in recent years. It will grow from $6.59  billion in 2023 to $7  billion in 2024 at a compound annual growth rate (CAGR) of 6.2%.  The  growth in the historic period can be attributed to increased demand for ready-to-eat, increased popularity of meaty flavor in various food preparations, increased demand for protein-rich food products, rise in processed foods due to fast-paced lifestyles, increased use in culinary traditions.

The meat extract market size is expected to see strong growth in the next few years. It will grow to $9.01  billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.  The growth in the forecast period can be attributed to increasing demand for natural and clean label products, increasing demand for protein supplements, growing demand for natural food products, rising demand for meat extract in the pharmaceutical industry, increasing demand for meat extract in pet food products. Major trends in the forecast period include plant-based meat extracts, clean and transparent labeling, online retail and direct-to-consumer sales, innovative packaging solutions, gourmet and artisanal products.

Growing demand for protein-rich food products and beverages is expected to fuel the growth of the meat extract market going forward. Protein-rich foods are protein sources derived from plants and animals. It is a source that provides the body with all the amino acids it requires. Meat extract can be used as a protein source in a variety of processed meals, it can lower salt levels in processed foods while enhancing flavour and nutritional value. For instance, according to a study conducted on more than 6,300 consumers in 12 countries around the world by Kerry Group, an Ireland-based food company, in November 2021, 75% of global consumers said they would pay more for protein-fortified foods and beverages. Therefore, the growing consumer demand for protein-rich food products and beverages drives the growth of the meat extract market.

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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

Product innovations have emerged as the key trend gaining popularity in the meat extract market. Major companies operating in the meat extract sector focused on products innovations to bring new methods and procedures for producing meat extract and increasing its applications. For instance, in June 2021, Essentia Protein Solutions, a US-based protein solutions company, developed C3307 Chicken Flavour, which is higher in protein, lower in carbohydrates, and has no added salt. This chicken flavour is ideal for low-sodium applications that demand a strong chicken flavour. C3307 allows developers to achieve lower salt constraints while still delivering tasty, full-bodied chicken flavours in their completed goods.

The meat extract market report table of contents includes:

 

1. Executive Summary
2. Meat Extract Market Characteristics
3. Meat Extract Market Trends And Strategies
4. Meat Extract Market – Macro Economic Scenario
5. Global Meat Extract Market Size and Growth

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31. Global Meat Extract Market Competitive Benchmarking
32. Global Meat Extract Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Meat Extract Market
34. Meat Extract Market Future Outlook and Potential Analysis
35. Appendix

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