|Market Size in 2018||Market Forecast in 2026||CAGR (in %)||Base Year|
|USD 20.6 Billion||USD 26.3 Billion||8.24%||2018|
Meat Extract Market
The meat extract market size was valued USD 20.6 Billion in 2018 and is expected to reach USD 26.3 Billion by 2026, growing at a CAGR of around 3.1% between 2019 and 2026. The report meat extract market covers forecast and analysis on a global and regional level. The research report presents a broad valuation of the market, competition, prospects, emerging trends, and industry-validated market statistics. The study provides historic data of 2016 to 2018 along with a forecast from 2019 to 2026 based revenue (USD Million).
The global meat extract market was valued at a considerable market share. The global meat extract market is projected to witness a high CAGR within the forecast period. Meat extract is used to add meat flavor in cooking and processed foods. It is a highly concentrated meat stock usually made from beef. Demand for meat extract is exponentially increasing in the food industry owing to its high nutritional value and health benefits. In addition to this, the presence of high protein in the meat extract is also catering to the demand for the meat extract market.
Based on the meat type, global meat extract market has been classified into beef, chicken, lamb, and pork. Chicken type segment accounted for the largest market share in 2018. The segment is further expected to witness substantial growth on account of the benefits it offers to develop muscles and cognitive functioning of the brain. As the consumption of chicken extract aids in developing cognitive performance, especially relating to memory and learning, the segment is anticipated to bolster the demand of the market.
The global meat extract market is categorized into powder, liquid, granules, and paste which is segmented based on the form. In the global meat extract market, the paste segment has dominated the market share in 2018. The segment is expected to continue its dominance over the forecast period owing to its ease of use and high solubility in foods. As the paste form of extracts is widely used in stuffing, nuggets, stock powder, seasoning, soups, sauces, and ready meals, the segment is expected to have a positive impact on the growth of the market.
Based on end-use, the global meat extract market has been classified into food processing and lab testing. The food processing segment has accounted for the largest share owing to a wide range of application such as stuffing, seasoning, soup powders, sauces, nuggets, ready meals, and others.
|Report Attributes||Report Details|
|Report Name||Meat Extract Market Research Report|
|Market Size in 2018||USD 20.6 Billion|
|Market Forecast in 2026||USD 26.3 Billion|
|Growth Rate||CAGR of 3.1%|
|Number of Pages||214|
|Key Companies Covered||Carnad A/S, JBS Global Ltd., Colin Ingredients, NH Foods Australia Pvt. Ltd., Proliant Inc., ARIAKE Japan Co. Ltd., Nikken Foods Co. Ltd., Innova Flavors Co. Ltd., Meioh Bussan Co. Ltd.|
|Segments Covered||By Type, By Form, By End-Use, And By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Historical Year||2015 to 2017|
|Forecast Year||2019 - 2026|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
Based on the region, North America accounted for the largest market share in 2018. The region is further expected to expand growth in terms of revenue owing to increasing microbiological research activities and growing demand for meat-based snacks in the region. Moreover, growing awareness regarding health consciousness among consumers for protein-rich food Meat Types is directly impacting regional growth. The market in Asia-Pacific is expected to witness the fastest growth over the forecast period. The rising focus on leading an active and healthy lifestyle in developing economies including China and India, increasing frequency of exercise among the masses, and rising disposable income are expected to stimulate the regional demand.
The major strategies executed by these leading companies in the market are partnerships, new Meat Type launches, and mergers & acquisitions. These companies are focusing more on investment in innovations, partnerships, and expansions to increase their market share.
Global Meat Extract Market: Meat Type Segment Analysis
Global Meat Extract Market: Form Segment Analysis
Global Meat Extract Market: Form Segment Analysis
Global Meat Extract Market: Regional Segment Analysis
The global meat extract market accounted for USD 20.6 Billion in 2018 and is expected to reach USD 26.3 Billion by 2026.
The CAGR value of the meat extract market is expected to be around 3.1% during 2019-2026.
North America accounted for the largest market share in 2018. The region is further expected to expand growth in terms of revenue owing to increasing microbiological research activities and growing demand for meat-based snacks in the region.