Meat Extract Industry Outlook: Key Trends, Growth Drivers, and Future Projections (2030)

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The Global Meat Extract Market size was valued at USD 2.4 billion in 2023 and the total meat extract market size is expected to grow at a CAGR of 5.6% from 2024 to 2030, reaching nearly USD 3.51 Billion by 2030.

The Meat Extract Industry size was valued at USD 2.4 billion in 2023 and the total meat extract market size is expected to grow at a CAGR of 5.6% from 2024 to 2030, reaching nearly USD 3.51 Billion by 2030.

Market Overview

Meat extract is manufactured by controlled enzymatic hydrolysis of meat with low fat and sinew content are considered as complementing the nutritive properties of peptone by contributing minerals, phosphates, energy sources, and those essential factors missing from peptone. Key Market Players of meat extract are, Oxo and Bovril, now contain yeast extract as well as meat extract. Meat extract are available in various varieties such as flavour enhacer, seasoning, base for broth and stocks, nutritional suppliment, and flavouring for snacks.

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Market Dynamics

Increased Demand for Umami Flavors driving the Meat Extract Market

One of the key drivers of the growing popularity of meat extract is the increasing demand for umami flavors in the food industry. Umami, often described as a savory or meaty taste, is one of the five basic tastes, along with sweet, sour, bitter, and salty. Meat extract is rich in umami compounds, making it a valuable ingredient for enhancing the flavor of various dishes. As consumer palates become more sophisticated and adventurous, there is a growing interest in foods that deliver complex and satisfying umami flavors.

Sustainability and Waste Reduction

Another driver of the increased use of meat extract is the growing focus on sustainability and waste reduction in the food industry. Meat extract is typically made from by-products of the meat industry, such as bones, trimmings, and other parts that are not suitable for direct consumption. By processing these by-products into meat extract, producers extract valuable flavors. This aligns with the broader trend in sustainable food production and consumption, as it helps to reduce the environmental impact of meat production and contributes to the efficient use of resources.

 

 

Segmentation Analysis

The market is segmented based on:

Based on Form, the beef extract segment holds the largest market share of about 55% in the global meat extract market in 2023. The leading segment of meat extract is classified into various types based on the source of the extract and its processing method. Among these, beef extract stands out as a popular choice, renowned for its robust and hearty flavor profile. Its versatility makes it a key ingredient in a myriad of culinary applications, such as enhancing the depth of flavor in soups, stews, and sauces.

Health and Nutrition Concerns

Health and nutrition concerns is a significant challenge to the meat extract market, potentially restraining its growth. Consumers are increasingly conscious of their dietary choices, focusing on products that offer health benefits and align with their nutritional goals. While meat extract is a source of protein and other nutrients, it is also high in sodium, contributes to health issues such as high blood pressure and heart disease.

Consumer Trend

Health-Conscious Choices: The trend of consumers towards processed beef products with lower amounts of fat, lowered salt levels, and less additives is indicative of their growing health consciousness. Additionally, they are looking for leaner protein sources such as chicken and turkey.

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Regional Insights

North America is the top selling meat exracter in the market and it holds the largest share in 2023. The region is expected to grow at a CAGR of 5.9% during the forecast period and maintain its dominance till forecast period. The United States offers a robust food processing sector and significant demand for meat extract products, providing producers with advantageous profit margins. In light of some variables, including significant meat consumption, a robust food processing sector, and the existence of significant market participants, Meat extract products are in great demand because of the region's huge customer base as well as disposable income.

Commutator Analysis

The market structure reflects moderate-to-high competition, with numerous regional and global players. Key characteristics include:

Asia Pacific:
1. PT. Foodex Indonesia - Indonesia
2. Nikken Foods Co., Ltd. - Japan
3. NH Foods Australia - Australia
4. Ariake Japan Co., Ltd. - Japan
5. Meioh Bussan Co., Ltd. - Japan

North America:
1. Kerry - United States
2. Pacific Foods of Oregon, LLC - United States
3. Bare Bones - United States
4. Bonafide Provisions - United States
5. Hardy Diagnostics - United States

Competitive Landscapes

The meat extract market exhibits high market concentration, with a few key players dominating the majority of market share because of their strong brand presence and extensive distribution networks. Companies are focusing on product innovation, expanding their product portfolios, and strategic collaborations to gain a competitive edge. Some key players in the market include Nestle, JBS S.A., Kerry Group, Carnad A/S, and Proliant Meat Ingredients.

Conclusion

For Immediate Release
The global meat extract market is on a firm growth trajectory, projected to reach USD 3.51 billion by 2030. Rising demand for umami-rich, natural flavors in processed and convenience foods, alongside expanding applications in laboratory and biotechnological fields, are propelling market growth. While North America continues to lead, Europe, with Germany as a key contributor, offers attractive opportunities driven by clean-label and premium product trends. With growing health awareness and technological innovations, the market is set to evolve with diversified offerings and sustainable practices in the years ahead.

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