Meat-Based Flavors Market Segments, Drivers, Restraints And Trends For 2024-2033
Meat-Based Flavors Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Meat-Based Flavors Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, August 28, 2024 /EINPresswire.com/ -- The global meat-based flavors market is projected to grow from $3.41 billion in 2023 to $3.62 billion in 2024, at a compound annual growth rate (CAGR) of 6.1%. Despite challenges in the market, growth is expected to continue strongly, reaching $4.61 billion by 2028 with a CAGR of 6.2%. This growth is driven by factors including rising health consciousness, increasing disposable incomes, and a growing preference for authentic, natural flavors over artificial additives.
Rising Ready-To-Eat Food Demand Boosts The Meat-Based Flavor Market Growth3
The increasing demand for ready-to-eat food is significantly propelling the growth of the meat-based flavor market. Ready-to-eat foods, such as frozen foods, bread, filled pasta, and frozen pizzas, offer convenience to busy lifestyles and quick meal solutions. Meat-based flavors enhance these products, making them more satisfying and appealing to consumers. For instance, sales of frozen foods in the US reached $72.2 billion in 2023, an 8.6% increase from 2021, with frozen meat sales growing by 9.9% to $5.9 billion. This rising demand for convenient meal options is a key driver for the meat-based flavor market.
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Key Players and Market Trends
Major companies in the meat-based flavors market, such as Archer-Daniels-Midland Company, Sensient Technologies Corporation, and Kerry Group plc, are adopting advanced food technologies to meet the growing demand for sustainable and healthier food options. Innovations include plant-based meat alternatives that replicate traditional meat flavors and textures. For example, Kerry Group plc's SucculencePB technology enhances the taste and moisture of plant-based meats, reducing fat, saturated fat, and calories while improving flavor and nutrition.
Segments:
• Type: Natural Meat Flavor, Artificial Meat Flavor
• Flavor: Chicken, Beef, Pork, Turkey, Fish and Seafood, Other Flavors
• Application: Baked Goods, Soups and Sauces, Savory, Ready Meals, Processed Meat, Other Applications
Geographical Insights: North America Leading the Market
North America was the largest region in the meat-based flavors market in 2023. The region's growth is supported by increasing consumer preference for diverse and authentic flavors, along with the expansion of ready-to-eat food options.
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Meat-Based Flavors Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Meat-Based Flavors Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on meat-based flavors market size2, meat-based flavors market drivers and trends, meat-based flavors market major players, meat-based flavors competitors' revenues, meat-based flavors market positioning, and meat-based flavors market growth across geographies. The meat-based flavors market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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