Meat Extracts Market Forecast to 2031 | Growth Insights

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 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.

Meat Extracts Market Market Report Scope

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:

1. Colin Ingredients
2. Carnad Natural Taste
3. Diana Group
4. PT Foodex Inti Ingredients
5. Givaudan S.A.

Disclaimer: The companies listed above are not ranked in any particular order.

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