Meat Extract Market - Forecasts from 2022 to 2027

The global meat extract market was evaluated at US$24.981 billion for the year 2020. growing at a CAGR of 12.27% reaching a market size of US$56.169 billion by the year 2027.

Meat extract generally refers to products that have a portion of animal flesh for flavouring or to make the product nutrient-rich or preserve it. The use of extracts is seen widely among the industry verticals in food, beverages, medicine, and supplements. With the transition in market dynamics over a period of time, the demand for meat extracts is expected to surge due to rapid urbanization, fast-working people in metro cities across the globe, and a decline in food preparation and consumption time. Moreover, the foods are now seen to be grown under artificial environments and techniques, which increase the volume of natural food items such as fruits and vegetables, but the cost of quality falls below the benchmark to provide adequate minerals and vitamins to people. Such issues with food products can be compensated for with the use of meat extract supplements. Meat extracts are not only limited to humans but are also included in cattle and various pet feeds such as dogs and fish.

The market has been segmented based on source type, primarily chicken, beef, pork, and fish, and By product forms, such as powder, paste, and others, By Applications in Food Products, Pharmaceuticals, and Others, based on distribution, there are two types: offline and online. on geography into North America, South America, Europe, Middle East, Africa, and Asia-Pacific pacific regions to cover the global market prospects.

In the situation of the COVID-19 pandemic, the demand for processed and certified meat extracts was on the uptrend as people have minimized the usage of raw or fresh meat because of the virus’s association with animal meat. Though oils/syrups/ tablets continued to prove themselves as the best alternative, which is economic in terms of money, time, and effort as no preparation and maintenance is needed for the same.

Lack of immunity among the growing population increases the demand for meat extracts

The negative market externalities such as population, climate change, and reduction of forest cover, directly and indirectly, are affecting the health of the people. A sedentary lifestyle, on the other hand, drastically reduces the immunity of the population across the globe, which leads them to fall short of nutrients and vitamins to fight against infections. Such shifts in the health status quo of the population require supplements and food, which are abundant in nutrients given that even the daily routine diet is contaminated with unwanted substances. To increase the yield of products derived from animals, meat extracts are often used in their diets to keep cattle or pets healthy and free from contagious infections.

A ready source of collagen in cosmetic preservation and medical use

Collagen, which is the substance used to build cell tissues in humans and animals, is highly regarded in cosmetics and is termed the main ingredient in products such as face creams, body lotions, and many others. Collagen and thus meat extract are not only limited to cosmetics but also important to the medical field. However, its usage within various ethnicities remains controversial because of religious interference, which might affect its demand among a fraction of the market.

There is a need for proper regulations and compliance to stop the proliferation of fake meat extract products to provide true value utility for consumers. According to the FDA, there are meat extract supplemented products that are not recognized and do not contain the ingredients listed on the label or are in exact proportions, despite charging customers exorbitant amounts. The department has cautioned consumers to look for standardized and certified variants of any sort of meat extract as adulterated content might cause allergies if consumed. This exploitation of consumers and the rotation of fake products in the market needs to be halted by having proper checks in place. Moreover, regular monitoring and inspection must be undertaken at the premises of the manufacturers of meat extract products by the concerned government officials.

Regional Analysis

Regionally, the Asia-Pacific region is projected to hold a substantial market share during the next five years. The key factor supporting the high demand for meat extracts in the region is the presence of a considerably large population base in countries like China and India, among others. Moreover, rapid urbanization and industrialization play a major role in supporting the market growth in the countries, thus positively impacting the growth of the APAC meat extract market over the next five years.

Key Developments in the Market:

• In January 2022, Unlimeat, a South Korean alternate solution meat brand that produces sliced beef from upcycled food waste, among other products, has finally arrived in the United States. The launch was announced with a Times Square billboard advertisement on the Thomas Reuters billboard. Online sales will provide consumers with access to a variety of products prior to retail expansion.
• In March 2022, Mzansi Meat, a South African cell-based meats company, plans to unveil its cultivated beef burger. It is the first product developed in an African country. Following a successful two-year R&D period and participation in the Brinc Food Tech accelerator program, the company will be able to begin scaling up production of its cultivated beef burger. Following the release of their lab-grown burger, the company plans to work on developing cell-based nuggets, steak, sausages, and chicken.

Covid-19 Impact:

Covid had a significant impact on the global meat extract market. The mandated lockdowns and social distancing measures resulted in the closure of factories. While the growing number of infected cases led to decreased staffing, affecting productivity. At the same time, the border restriction and closure of ports disrupted the imports and exports of the country. This further led to a gap in the supply and demand chain, slowing down the market growth.

Market Segmentation:

By Source

• Chicken
• Beef
• Pork
• Fish

By Product Form

• Powder
• Paste

By Distribution Channel

• Offline
• Online

By Applications

• Food Products
• Pharmaceuticals

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Europe
• Germany
• France
• Spain
• United Kingdom
• Italy
• Middle East and Africa
• Saudi Arabia
• UAE
• Asia Pacific
• China
• Japan
• India
• South Korea
• Indonesia
• Thailand