Meat Extract Global Market Report 2024

Meat extract is a concentrated preparation containing concentrated meat essence, offering a robust and rich flavor derived from sources like beef, chicken, and pork. Its primary purpose is to enhance the meat flavor in cooking and to prepare soups and other liquid-based dishes.

Meat extract is available in various forms such as powder, liquid, granules, and paste. Powder form consists of loose substance composed of very small, dry, solid granules. Meat extract powder serves as a fundamental ingredient supporting the artificial growth of microorganisms, especially for bacterial culture and fermentation processes. Various types of meats can be used in the extraction process, including beef, chicken, pork, lamb, and others. The applications of meat extract span both industrial and commercial uses.

The meat extract market research report is one of a series of new reports that provides meat extract market statistics, including meat extract industry global market size, regional shares, competitors with a meat extract market share, detailed meat extract market segments, market trends and opportunities, and any further data you may need to thrive in the meat extract industry. This meat extract market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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 expansion observed in the historical period can be attributed to several factors, including an increased demand for ready-to-eat foods, the growing popularity of meaty flavors in various culinary preparations, a rise in the demand for protein-rich food products, the increase in processed foods due to fast-paced lifestyles, and the heightened utilization of meat extract in culinary traditions. These factors collectively contributed to the growth of the meat extract industry during this period.

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 projected growth in the forecast period can be attributed to several factors, including the increasing demand for natural and clean label products, a rising interest in protein supplements, a growing market for natural food products, an expanding demand for meat extract in the pharmaceutical industry, and an increased utilization of meat extract in pet food products. Key trends expected in this period include the development of plant-based meat extracts, a focus on clean and transparent labeling, the rise of online retail and direct-to-consumer sales, the adoption of innovative packaging solutions, and a growing interest in gourmet and artisanal meat extract products. These trends reflect evolving consumer preferences and the industry's efforts to cater to changing market demands.

The meat extract market is anticipated to experience growth due to the increasing demand for protein-rich food products and beverages. Protein-rich foods, derived from both plants and animals, serve as sources providing essential amino acids to the body. Meat extract, offering a protein source, is utilized in various processed meals to reduce salt levels while enhancing flavor and nutritional value. A study conducted by Kerry Group in November 2021 revealed that 75% of global consumers expressed willingness to pay more for protein-fortified foods and beverages, highlighting the rising consumer demand that propels the meat extract market's growth.

The upward trend in meat consumption is expected to contribute to the expansion of the meat extract market. As a primary source of protein in human diets, meat consumption, including beef, pork, lamb, poultry, and game meats, has seen a substantial increase. The heightened demand for meat and meat-based products has led to a corresponding increase in the usage of flavor enhancers like meat extracts. Notably, the combined production of various meats, as reported by the North American Renderers Association in November 2021, experienced a significant year-on-year increase of 22.4%, with mutton, beef, and poultry meat production rising by 5.3%, 3.9%, and 3.8%, respectively. This surge in meat consumption is a key driver behind the meat extract market's growth.

A prominent trend in the meat extract market is the focus on product innovations by major companies in the sector. These innovations involve the development of new methods and procedures for producing meat extract, expanding its applications. For instance, Essentia Protein Solutions introduced C3307 Chicken Flavour in June 2021, offering a higher protein content, lower carbohydrates, and no added salt. This innovation caters to low-sodium applications, providing a robust chicken flavor without compromising on taste.

Companies in the meat extract market are also launching new products such as meat stick flavors to cater to diverse customer preferences, increase sales, and drive revenue growth. Meat stick flavors refer to distinct taste profiles and seasoning combinations designed to enhance the appeal of meat sticks. Chomps, a US-based meat snack company, introduced two new flavors, Taco Beef and Habanero Beef, in March 2023. Notably, the Habanero Beef stick stands out as the spiciest offering to date, delivering an intense fusion of flavor and heat through a blend of habanero peppers, red pepper, and coriander. These meat sticks are made from grass-fed and finished beef, containing 10 grams of protein, 100 calories, and no sugar.

In May 2021, Synergy Flavors Inc. acquired Innova Flavors, a move that enhances Synergy's flavor offerings. Clients of Innova will benefit from access to a proven variety of sweet flavors, extracts, and essences, meeting the demand for clean label options in the competitive food and beverage industry. Innova Flavors, specializing in customized meat and savory flavors, complements Synergy Flavors Inc.'s portfolio.

Major companies operating in the meat extract 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

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

The countries covered in the meat extract market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The meat extract market consists of sales of nucleotides, polypeptides, carnosine, anserine, amino acids, creatinine, and creatine. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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