PUBLISHER: The Business Research Company | PRODUCT CODE: 1539730
PUBLISHER: The Business Research Company | PRODUCT CODE: 1539730
Meat-based flavors are additives derived from real meat or synthesized to replicate the taste of various meats, enhancing the flavor of food products. They provide authentic meat-like tastes, improving the overall flavor and appeal of dishes.
There are two main types of meat-based flavors, natural and artificial. Natural meat flavor comes from real meat sources or natural ingredients that mimic authentic meat tastes. These flavors include chicken, beef, pork, turkey, fish, seafood, and others, used in diverse applications such as baked goods, soups, sauces, savory dishes, ready-to-eat meals, and processed meats.
The meat-based flavors market research report is one of a series of new reports from The Business Research Company that provides meat-based flavors market statistics, including meat-based flavors industry global market size, regional shares, competitors with a meat-based flavors market share, detailed meat-based flavors market segments, market trends and opportunities, and any further data you may need to thrive in the meat-based flavors industry. This meat-based flavors 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-based flavors market size has grown strongly in recent years. It will grow from $3.41 billion in 2023 to $3.62 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth during the historical period was driven by the increasing demand for convenient foods, expansion of fast food and quick-service restaurant (QSR) chains, a surge in popularity of plant-based and cultured meat products, growth in meat alternatives, and heightened interest in global cuisines.
The meat-based flavors market size is expected to see strong growth in the next few years. It will grow to $4.61 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth expected in the forecast period can be attributed to rising health awareness, increasing disposable incomes, consumer preference for authentic and natural flavors instead of artificial additives, growing interest in ethnic and exotic cuisines, and rising demand for natural and organic food ingredients. Key trends anticipated in the forecast period include advancements in meat-flavor technology to replicate traditional tastes and textures, sustainable and ethical sourcing of meat flavors, personalized nutrition and bespoke food products, innovations in flavor extraction techniques, and the development of meat-flavor enhancements with additional functional benefits.
The increasing demand for ready-to-eat food is expected to drive growth in the meat-based flavor market in the foreseeable future. Ready-to-eat food encompasses pre-cooked, pre-packaged products designed for immediate consumption, catering to busy lifestyles and the need for convenient meal solutions. This trend includes items such as frozen foods, bread, filled pasta, and frozen pizzas. Meat-based flavors play a crucial role in enhancing the taste and appeal of these foods, meeting consumer preferences for savory and hearty meals. For example, in January 2023, the American Frozen Food Institute reported that the value of frozen food sales reached $72.2 billion, marking an 8.6% increase from 2021, with frozen meat sales specifically rising to $5.9 billion, up by 9.9% from the previous year. Therefore, the growing demand for ready-to-eat food is set to propel the meat-based flavor market.
Leading companies in the meat-based flavor market are leveraging advanced food technologies to develop plant-based meat alternatives, addressing the rising demand for sustainable and healthier food choices. Plant-based meat alternatives are derived from plants and mimic the taste, texture, and appearance of traditional meat products. For instance, Kerry Group plc introduced SucculencePB in March 2023, a taste technology that enhances the flavor and moisture of plant-based meats, addressing common concerns such as dryness. This innovative technology significantly reduces fat by up to 74%, saturated fat by 97%, and calories by 69%, thereby improving the nutritional profile of plant-based burgers and sausages. Kerry Group's patent-pending approach supports vegan-friendly options by enhancing moisture retention and flavor, aligning with consumer expectations for taste and health benefits.
In May 2021, Synergy Flavors Inc. bolstered its presence in the meat and savory flavors market through the acquisition of Innova Flavors. This strategic move enhances Synergy Flavors' capabilities in providing a wide range of flavoring solutions, including process flavors, extracts, essences, and compounded flavors. The acquisition strengthens Synergy's ability to innovate and meet the diverse needs of its customers in the competitive food and beverage industry.
Major companies operating in the meat-based flavors market are Archer-Daniels-Midland Company, Sensient Technologies Corporation, Essentia Protein Solutions Limited, BRF SA, Symrise AG, Givaudan SA, H.E. Stringer Flavours Limited, International Flavors & Fragrances Inc., Kerry Group plc, Trilogy Essential Ingredients, Firmenich SA, T. Hasegawa Co. Ltd., Calaf Nuances S.L., P.A. Aromatics Flavors S.r.l., Fooding Group Limited, MANE Flavor & Fragrance Manufacturer, Nactis Flavors, Pet Flavors Inc., T. Hasegawa USA Inc., BioSpringer, Food Specialities Limited, Stringer Flavour Ltd., Wixon Inc.
North America was the largest region in the meat-based flavors market in 2023. The regions covered in the meat-based flavors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the meat-based flavors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The meat-based flavors market consists of sales of flavoring agents and seasonings. 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.
Meat-Based Flavors Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on meat-based flavors market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for meat-based flavors ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The meat-based flavors market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.