The global meat ingredient market is anticipated to expand at a CAGR of 5.1% during the forecast period, 2021-2028. The growth of the market is attributed to growing demand for processed and convenience food along with increasing adoption of meat ingredients in these products.
Growing requirement of nutrition and taste convergence has increased the usage of flavoring agents and salts, driving the meat ingredients market. In past few decades, globally consumption and production of meat have been increasing rapidly. Meat ingredients are used to change the attributes and properties of meat and provide particular texture and taste to it. These ingredients include various types of binders, extenders, fillers, coloring agents, flavoring agents, preservatives, texturing agents, and salts.
Meat ingredients change the characteristics and properties of the meat and provide unique features. They also improve to the properties of processed meat products. The meat processing technology is acting as a major contributor to the improvement of a wide range of meat products.
Market Drivers, Restraints, Trends, and Opportunities
- Growing consumption of the meat across the globe is one of the major factors fueling the growth of the meat ingredients market.
- Expanding demand for convenience foods, such as instant beverages and snacks is driving the market growth.
- Increasing usage of meat ingredients in processed foods, such as meat and frozen meat is positively influence the growth of the market.
- Stringent regulations by the FDA and other regulatory bodies in the processed food industry can hinder the market growth.
- Rising trend of veganism can create challenges for the market in the projected timeline.
- Rising usage of flavoring agents to impart flavor and to skip bad taste and odor is propelling the growth of the market.
- Factors such as high-quality standards, clean labeling, and health concerns can create opportunities for new entrants and emerging players in the market.
Scope of the Report
The report on the global meat ingredient market includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.
Meat Ingredient Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Ingredient (Binders, Extenders, Fillers, Coloring Agents, Flavoring Agents, Preservatives, Texturing Agents, and Salts)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Kerry Group plc, Ohly GmbH, E.I.du Pont de Nemours and Company, Proliant Meat Ingredients, Wenda Ingredients, Alicia Srl, Campus Srl, Redbrook Ingredient Services, WIBERG GmbH, and Advanced Food Systems Inc.
Global Meat Ingredients Market Segment Insights
Preservatives segment to hold major market share
Based on ingredient, the market is divided as binders, extenders, fillers, coloring agents, flavoring agents, preservatives, texturing agents, and salts. The preservatives segment is projected to account for a major market share during the forecasted period. Rising requirement for products that maintain food safety and increases the shelf life is driving the segment growth. Preservatives such as sulfites, source of sulfur dioxide, can inhibit the segment growth.
The market in Asia Pacific to exhibit a high CAGR
Based on regions, the market is divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia is projected to exhibit a high CAGR during the forecast period. Increasing number of large of food processing and storage facilities, particularly in developing countries, such as India, Japan, and China is driving the regional market growth.
In Africa, the main traditional meat processing methods are meat salting, drying, and smoking. However, the advent of latest manufacturing technologies is expected to propel the growth of the market in the Middle East & Africa.
Segments covered in the report
- Coloring Agents
- Flavoring Agents
- Texturing Agents
- North America
- Latin America
- Asia Pacific
- Middle East
- Kerry Group plc
- Ohly GmbH
- E.I. du Pont de Nemours and Company
- Proliant Meat Ingredients
- Wenda Ingredients
- Alicia Srl
- Campus Srl
- Redbrook Ingredient Services
- WIBERG GmbH
- Advanced Food Systems Inc.
Some of the major players in the market are Kerry Group plc, Ohly GmbH, E.I. du Pont de Nemours and Company, Proliant Meat Ingredients, Wenda Ingredients, Alicia Srl, Campus Srl, Redbrook Ingredient Services, WIBERG GmbH, and Advanced Food Systems Inc.
Companies are engaging in mergers and acquisitions to expand their market share. Moreover, key players are entering into partnerships and engaging in collaboration with companies whose expertise lies in the development of advanced manufacturing process.