The Meat Flavors Market Report 2018-2023 focuses on the global Meat Flavors status, future forecast, growth opportunity, key market, and key players.
The Meat Flavors Market report studies the global market size of Meat Flavors in key regions like North America, Europe, Asia Pacific, Central & South America, and the Middle East & Africa focuses on the consumption of Meat Flavors in these regions. This research report categorizes the global Meat Flavors market by players/brands, region, type, and application. This report also studies the global market status, competition landscape, market share, growth rate, future trends, market drivers, opportunities and challenges, sales channels, distributors and Porters Five Forces Analysis.
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The various contributors involved in the value chain of Meat Flavors include manufacturers, suppliers, distributors, intermediaries, and customers.
The Key Players covered in this study:-
- Kerry Group
- Cargill Inc
- Dupont- Danisco
- International Fragrance and Flavors
- D.D. Williamson & Co Inc.
- Archer Daniels Midland(ADM)
Overview of Meat Flavors Market Research Report 2018-2023:-
Global meat flavors market is expected to grow at a CAGR of 5.8% from 2018 to 2023. The global natural meat flavoring market accounted for USD 833.03 million in 2016, and is expected to record a CAGR of 6.4% during the forecast period.
The growing trend of health consciousness has led to an exponential increase in the use of natural flavors by most food manufacturing companies. Natural meat flavoring are extensively used in most products in developed regions, such as North America. Natural ingredients are expected to have highest growth rate in Asia-Pacific due to the rising purchasing power and consumers demand for healthy products with natural flavors.
Growing demand for meat based foods
Due to globalization consumersâ taste has evolved, with consumers craving for newer flavors and tastes. This has stimulated the meat flavors market. Along with globalization, increasing disposable income in developing nations is giving a great push to the meat flavors market with consumers opting for ready-to-eat food to match their fast pace lifestyle. According to the FAO fact sheet, the global annual per capita meat consumption is expected to reach 35.3 kg by 2025. During 2016 – 2025, the consumption of meat and meat-based products is expected to grow by 60% more than the consumption rate in 2016.
This is due to the growth of disposable incomes in regions, such as Asia, Latin America, and the Middle East. The demand for meat in developed countries continues to increase, but at a lower growth rate compared to those developing countries. Moreover, the increasing demand for the ready to eat and processed food demands greater use of meat flavors in the production giving impetus to the market.
The Growing vegetarianism is a major restrain in the market. Constraints are also seen in the form of regulatory requirements in food additives, with animal derived flavors seeing a greater regulation due to the risk of contamination. As most of the meat flavors are applied to ready-to-eat food, increasing awareness among consumers about the negative health effects of processed food consumption is also a limiting factor in the market.
Opportunities can be seen in the form use of meat flavors to new and novel food items and application in new industries. The wider acceptance of GSFA among nations improves international trade of meat flavors. Innovations to meet the wellness demand of the consumers by introducing organic meat flavors is also giving new opportunity in the market.
Artificial flavoring is the most widely used
The meat flavor can be natural or artificial, wherein, artificial flavoring is the most widely used. In most cases, artificial flavors do not contain any animal source, and are instead made in the laboratory by carefully mimicking the taste and smell of the animal meat. Natural flavoring contains a meat source, and is usually available in the form of broths. Natural ingredients are expected to have highest growth rate in Asia-Pacific due to the rising purchasing power and consumers demand for healthy products with natural flavors.
The market is further segmented by source type into Beef, Chicken, Pork, Turkey, Shrimp, Fish, and Others. Chicken has the largest percentage of the meat flavor market share because of few cultural restrictions of the meat, especially in the Islamic and Jewish nations. Beef has the second largest market share, with popularity in the North American and European nations. Applications of meat flavors include; Soups and Sauces, Ready meals, Savories, Baked Goods, and Others.
North America is the major market for meat flavors
On the basis of region, market is segmented into North America, Europe, Asia Pacific, Africa and South America. North America is the main market for Meat flavors with the United States making up the largest market share in the continent. This is due to the high consumption of processed food in the country. The United States accounts for more than 50% of the natural meat flavors market share of North America. Over the years, there has been a wide range of innovation in the meat flavors industry to suit the consumerâs needs in the United States.
The Asian market comes in next with meat flavors being very popular in cuisines in countries like Japan, South Korea, and China. The meat flavors in the Asian region are heavily used in the instant noodle industry. A few major companies and several small manufacturers in the region dominate the market.
Major Players: KERRY GROUP, CARGILL Inc, BASF, DUPONT- DANISCO, INTERNATIONAL FRAGRANCE AND FLAVORS, Inc.(IFF), D.D. WILLIAMSON & CO Inc., ARCHER DANIELS MIDLAND(ADM)
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Reasons to Purchase this Report
Key questions answered in the Meat Flavors Market Report are.
- What will the market size be in 2023 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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This report includes the estimation of market size for value (million US$) and volume (K Units). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Meat Flavors market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.
Major Points from TOC of Meat Flavors Market Research Report 2018-2023:
1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
- RESEARCH METHODOLOGY
- EXECUTIVE SUMMARY
- MARKET DYNAMICS
4.1.1 Rise in Defence Expenditure of Many Countries
4.1.2 Increasing Demand of Lightweight Materials in the Industry
4.2.1 Need for High Investments in R&D
4.2.2 Other Restraints
4.3 Industry Value-Chain Analysis
4.4 Porters 5 Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Price Analysis
- MARKET SEGMENTATION
1 By Application
5.2 End-user Sector
5.3.2 North America
5.3.4 South America
5.3.5 the Middle East & Africa
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