The meat extracts market size is projected to reach US$ 2.75 billion by 2031 from US$ 1.91 billion in 2023. The market is expected to register a CAGR of 4.6% in 2023–2031. The demand for protein has increased significantly, with many consumers focusing on health and wellness. Consumers cannot achieve their daily dietary requirements owing to a hectic lifestyle and prolonged work schedules. Therefore, they choose functional products containing high proteins, vitamins, minerals, and good carbs.
Meat Extracts Market Analysis
Meat extract is a raw ingredient that aids in the artificial cultivation of microorganisms, primarily used for bacterial culture and fermentation. It is made from the controlled enzymatic breakdown of high-quality meat, generally beef. It is an excellent source of nutrients such as creatine, creatinine, organic acids, water-soluble amino acids, nucleotides, polypeptides, and minerals & vitamins that support the growth of microorganisms on nutrient media. Meat extract powder supplies carbon, nitrogen, and energy to the microorganisms, allowing them to grow and reproduce optimally. Meat extracts are made from specific animal tissues that increase the nutritional value of the culture medium. It is often used in concentrations ranging from 0.2% to 1.0%.
Meat Extracts Market Overview
Meat extract is available in liquid and powder formats. Liquid meat extracts are made by boiling small pieces of meat in water and concentration the liquid to achieve the desired consistency. Powdered meat extract can be obtained by drying the cooked meat pieces and then milling it into fine powder. Manufacturers of meat snacks, soups, and sauces use meat extracts to add a characteristic flavor to the products. Moreover, they increase the protein content of the product which increases their appeal among health-conscious consumers. Meat extracts are widely used to prepare culture media which is used to cultivate different micro-organisms. Meat extracts are rich in proteins, amino acids, peptones, nucleotides, among other nutrients which support the growth and reproduction of micro-organisms at optimum rate. Further, meat extracts are used to develop cultured meat in laboratories.
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Meat Extracts Market: Strategic Insights
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Meat Extracts Market Drivers and Opportunities
Rising Demand for Meat Extracts as Flavor Enhancers to Favor Market
Over the past few years, meat production and consumption have increased significantly with the rise in global population, increase in the number of mid-income families, and rising demand for high-protein, affordable food. Poultry meat is one of the major drivers of the growth of the meat industry as it is an affordable source of protein, and it is considered healthier than other meats such as beef and pork. According to the Organization of Economic Co-operation and Development and the Food and Agriculture Organization statistics, global meat production is expected to reach 373 million tons by 2030. Moreover, the per capita meat consumption across the globe is expected to reach 43.7 kg rwt (expressed in retail weight).
Surging Demand for Clean-Label and Organic Meat Extracts– An Opportunity
Consumers are highly concerned about the food they consume. They are paying more attention to product labels and ingredients used in processed food products. Organic products are becoming increasingly popular, owing to their perceived health benefits. They are free of pesticides, chemical fertilizers, and genetically modified organisms (GMOs) that increase their appeal among consumers, who are ready to pay high prices. Moreover, consumers increasingly prefer clean-label meat products free of synthetic flavors, colors, and other food additives. Further, consumers are focusing on holistic and conscious consumption and prefer products with ethically sourced ingredients.
Meat Extracts Market Report Segmentation Analysis
Key segments that contributed to the derivation of the meat extracts market analysis are type, form, application, and end user.
- Based on type, the meat extracts market is divided into beef, pork, chicken, and others. The beef segment held a larger market share in 2023.
- By form, the market is segmented into powder, liquid, and others. The powder segment held the largest share of the market in 2023.
- In terms of application, the market is divided into RTE & RTC meals, sweet & savory snacks, soups & sauces, and others. The others segment dominated the market in 2023.
Meat Extracts Market Share Analysis by Geography
The geographic scope of the Meat Extracts Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
North America has dominated the meat extracts market. North America is one of the prominent regions for the meat extract market due to the increasing consumption of meat-based products as healthy and protein-rich food. The US is the world’s largest poultry meat exporter and a major egg producer. Growing consumer preference for leaner meat options, with changing dietary patterns, boosts the demand for chicken-based meat in the region. Moreover, consumers in countries such as the US and Canada have started opting for meat-based products, including bacon, over other breakfast options, such as pancakes, due to the willingness to try new products. Meat extract is also used in culture media preparation. For instance, Hardy Diagnostics is an American company that manufactures and sells bacteriological culture media. They prepare beef extract powder and standardize it for use in microbiological culture media, where it is generally used to replace infusions of meat. For many years, beef extract media have been recommended as a standard for use in the routine bacteriological examination of water, milk, and other materials.
Meat Extracts Market Regional Insights
The regional trends and factors influencing the Meat Extracts Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Meat Extracts Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
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Meat Extracts Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1.91 Billion |
| Market Size by 2031 | US$ 2.75 Billion |
| Global CAGR (2023 - 2031) | 4.6% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered | By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
|
Market Players Density: Understanding Its Impact on Business Dynamics
The Meat Extracts Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Meat Extracts Market are:
- Colin Ingredients
- Carnad Natural Taste
- Diana Group
- PT Foodex Inti Ingredients
- Givaudan S.A.
Disclaimer: The companies listed above are not ranked in any particular order.
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Meat Extracts Market News and Recent Developments
The meat extracts market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:
In June 2021, Essentia Protein Solutions introduced a new addition to its ProFlavor line called C3307 Chicken Flavor. This latest flavor option offers several benefits, including a higher protein content, reduced carbohydrate levels, and no additional salt. It is specifically designed to assist in the creation of lower-sodium products while still delivering a strong and authentic chicken taste. (Source: Essentia Protein Solutions/Company Website)
Meat Extracts Market Report Coverage and Deliverables
The “Meat Extracts Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
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The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published and advised several client across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organization are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
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Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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