Meat Extract Market Size Worth $27.7 Billion by 2025 | CAGR

3.5%: Grand View Research, Inc.

SAN FRANCISCO, Aug. 22, 2019 /PRNewswire/ -- The global meat extracts market size is projected to reach USD 27.7 billion by 2025, denoting a CAGR of 3.5% over the forecast period, according to a new report by Grand View Research, Inc. Factors such as population expansion in developing economies and double-income families are expected to contribute to the rising preference for packaged ready-to-eat meat products, which is further anticipated to boost the demand for meat extracts over the forecast period.

Key suggestions from the report:

• Chicken extracts segment held 39.7% of the volume share in 2018 and is anticipated to grow at a CAGR of 3.0% over the forecast period owing to its reasonably higher protein content as compared to other meat products
• Industrial application segment dominated the demand in the market, both in terms of volume and value, in 2018, and the segment is anticipated to grow at a rate of 3.8%, in terms of revenue, over the forecast period
• Powder segment is expected to account for 39.0% of the overall market revenue share by 2025 owing to the rising demand for meat extracts in powder form for use in stuffing, stock powder, nuggets, bouillon cubes, coatings, seasonings, soup powders, soups, sauces, snacks, and ready-to-eat meals
• In spite of a decline in population, the market in Japan is projected to grow at a CAGR of 3.3%, in terms of value, over the forecast period
• Givaudan; IDF; Essentia Protein Solutions; Haco Holding AG; and CHIMAB S.p.A. were the major players in meat extracts industry in 2018.

Read 160 page research report with TOC on "Meat Extract Market Size, Share & Trends Analysis Report by Type (Chicken, Pork, Beef, Fish), By Form (Powder, Paste, Oil), By Application (Industrial, Commercial), By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/meat-extract-marke ...

Growing demand for meat products as a key source of protein in China and increasing disposable incomes are anticipated to drive the consumption of meat extract oils over the forecast period. In addition, favorable government initiatives pertaining to the food industry are expected to remain an important driving factor in the near future.

Consumers are focusing on food products that are sustainable, healthy, and are not prepared using synthetic flavorings or additives. Keeping this in mind, companies, such as BRF Ingredients; Carnad A/S; and Nikken Foods Co., Ltd., through their intensive and ongoing research & development activities, have introduced variable formulations to address the aforementioned concerns of consumers. Aforementioned trends are anticipated to boost the demand for meat extracts market in the near future.