The global meat extract market size is expected to gain momentum during the forecast period. This is attributable to the increasing demand for seasonings owing to the high consumption of convenience food products and the growing demand for meaty products to provide nutrition for toddlers globally. This information is published by Fortune Business Insights, in its upcoming report, titled, “Meat Extract Market Size, Share & Industry Analysis, By Type (Beef, Chicken, Pork, Lamb), By Application (Ready-to-cook & Ready-to-eat Meals, Seasonings & Coatings, Soups & Broths, Sauces & Spreads, Savory Snacks, Infant Foods, Other Non-food Applications) and Regional Forecast, 2020-2027.”
The widespread effect of the global pandemic, COVID-19, has been felt across several economies that are facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been on a standstill with limited operational activities. However, a collective effort from the government as well as the industries is likely to bring the economy back on track and aid in the resumption of industrial activities.
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Meat extracts are products derived from the concentrated meat stock and are widely adopted across several processed food products. They are used in meat-based meals, savory snacks, soups, and as seasonings and sauces across several convenience foods. The evolving food patterns of the consumers is propelling the demand for innovative and tasty meat induced products across the globe.
What does the Report Include?
The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaboration that will further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
Increasing Demand for Packaged Food Products to Accelerate Growth
The widespread effect of the novel coronavirus has spiked the demand for the consumption of safe and hygienic food products. In addition to this, several stores have witnessed panic buying among the people who have been hoarding essential commodities that include convenience food products. This is likely to drive the demand for innovative meat extract products across the globe. The high consumption of protein-rich meat products to promote the overall growth of the toddlers is expected to boost the global meat extract market growth during the forecast period.
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Growing Demand for Ready-to-Eat Products in North America to Favor Growth
Geographically, North America is expected to showcase substantial growth in the global meat extract market during the forecast period. This is attributable to the increasing demand for ready-to-eat products that is likely to boost the consumption of meat extract products in countries such as the U.S. in the region.
The market in Europe is anticipated to experience considerable growth backed by the growing preference for umami taste in processed meat extract products such as soups and noodles that will favor the market growth.
Product Launches by Key Players to Intensify Industry Competition
The global meat extract market is consolidated by the presence of major companies that are striving to maintain their position and gain a competitive edge over their rivals. They are doing so by focusing on introducing innovative meat extract products to cater to the surging consumer demand across the globe. Additionally, other key players are adopting organic and inorganic strategies to intensify market competition and maintain stronghold during the forecast period.
- August 2019 – BRF Ingredients announced the launch of a natural meat extract sourced from pork & chicken broth that lends umami flavors to processed food products. The company is focused on leveraging the opportunity provided by the high demand for processed food products and further maintaining its strong footprint in the global marketplace.
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List of the Companies Profiled in the Global Market for Meat Extract:
- BRF S.A.
- Carnad Natural Taste
- Meioh Bussan Co.
- Nikken Foods USA, Inc.
- Colin Ingredients
- International Dehydrated Foods, Inc.
- JBS Global
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