Product Code: TIPRE00009430
The meat extract market is expected to grow from US$ 1,738.27 million in 2021 to US$ 2,477.03 million by 2028; it is estimated to grow at a CAGR of 5.2% from 2021 to 2028.
Meat extract is obtained by boiling meat pieces in water. The concentration of the liquid must reach 70% of the total dissolved solids concentration. Meat extract powder is made by drying the cooked meat pieces to reach a 5% moisture level and then milling it into fine powder. Meat extract is a raw ingredient that aids in the artificial cultivation of microorganisms, primarily used for bacterial culture and fermentation. It is made from the controlled enzymatic breakdown of high-quality meat, generally beef. It is an excellent source of nutrients such as creatine, creatinine, organic acids, water-soluble amino acids, nucleotides, polypeptides, and minerals & vitamins that support the growth of microorganisms on nutrient media. Meat extract powder supplies carbon, nitrogen, and energy to the microorganisms, allowing them to grow and reproduce optimally. Meat extracts are made from specific animal tissues that increase the nutritional value of the culture medium. It is often used in concentrations ranging from 0.2% to 1.0%. Culture media is used for various biopharmaceutical and biological purposes. It is used for the purification and separation of different cultures. Further, culture media is also used for developing cultured meat or lab-grown meat, which is a sustainable and clean alternative to conventional meat. Thus, the growth of culture media followed by the rising demand for meat extract for the preparation of culture media is driving the growth of the meat extract market.
Based on application, the meat extract market is segmented into RTE & RTC meals, sweet & savory snacks, soups & sauces, and others. The others segment accounted for the largest share of the meat extract market in 2020. However, the sweet & savory snacks segment is expected to register the highest CAGR during the forecast period. Snacks are small portions of food consumed between meals. Snacks are available in many forms, such as frozen, savory, and sweet. Traditionally, snacks are prepared from ingredients commonly available at home without much preparation, but packaged snack foods grew in popularity for the ease of convenience to consumers. Furthermore, manufacturers started developing different meat-based snack products, thus driving the growth of the meat extract market. As a type of convenience food, processed snack foods are less perishable, more durable, and more portable than prepared foods. Consumption of ready-to-eat snacks at picnics, informal gatherings, and parties has become a trend that boosts the demand for meat extract, driving the market growth.
By region, the meat extract market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). In 2020, North America held the largest share of the meat extract market; however, Asia Pacific is estimated to register the fastest CAGR over the forecast period. The increasingly high number of consumers in Asia Pacific countries are opting for animal products as a preferred source of protein. The region holds promising growth potential for the meat extract market players due to the flourishing food industry. The demand for meat-based products is increasing with the popularity of the western diet, and the demand for ready-to-eat and ready-to-cook products in China and India. Manufacturers such as Neogen Corporation and Ottogi New Zealand Ltd. use livestock and poultry products to enhance the flavor and fragrance of their soups, sauces, nuggets, snacks, and ready-to-eat meals. Thus, demand for meat extract as a raw material is increasing among manufacturers, which is expected to boost the meat extract market growth in Asia Pacific during the forecast period.
The key players operating in the meat extract market include Colin Ingredients; Carnad Natural Taste; Diana Group; PT Foodex Inti Ingredients; Givaudan S.A.; JBS SA.; Maverick Biosciences Pty Ltd; Nippon Ham Group; Titan Biotech Limited; and Proliant Biologicals, LLC. These players are engaged in developing affordable and innovative products to meet the rising customer demands and expand their market shares.
The overall meat extract market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants-such as valuation experts, research analysts, and key opinion leaders-specializing in the meat extract market.
Reasons to Buy:
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the global meat extract market, thereby allowing players to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
Table Of Contents
1. Introduction
- 1.1 Study Scope
- 1.2 The Insight Partners Research Report Guidance
- 1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
- 3.1 Scope of the Study
- 3.2 Research Methodology
- 3.2.1 Data Collection:
- 3.2.2 Primary Interviews:
- 3.2.3 Hypothesis Formulation:
- 3.2.4 Macro-economic Factor Analysis:
- 3.2.5 Developing Base Number:
- 3.2.6 Data Triangulation:
- 3.2.7 Country Level Data:
4. Meat Extract Market Landscape
- 4.1 Market Overview
- 4.2 Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Competitive Rivalry
- 4.2.5 Threat of Substitutes
- 4.3 Expert Opinion
- 4.4 Value Chain Analysis
- 4.4.1 Value Chain Analysis: Meat Extract
- 4.4.1.1 Raw Material
- 4.4.1.2 Manufacturing/Processing
- 4.4.1.3 Packaging
5. Global Meat Extract Market - Key Market Dynamics
- 5.1 Market Drivers
- 5.1.1 Rising Demand for Meat Extracts as Flavor Enhancers
- 5.1.2 Increasing Utilization of Meat Extracts for the Preparation of Culture Media
- 5.2 Market Restraints
- 5.2.1 Increasing Vegan Population
- 5.3 Market Opportunities
- 5.3.1 Surging Demand for Clean-Label and Organic Meat Extracts
- 5.4 Future Trends
- 5.4.1 Growing Preference for High-Protein Snacks
- 5.5 Impact Analysis of Drivers and Restraints
6. Meat Extract - Global Market Analysis
- 6.1 Meat Extract Market Overview
- 6.2 Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 6.3 Competitive Positioning
7. Meat Extract Market Analysis - By Type
- 7.1 Overview
- 7.2 Meat Extract Market, By Type (2020 and 2028)
- 7.3 Beef
- 7.3.1 Overview
- 7.3.2 Beef: Meat Extract Market - Revenue and Forecast to 2028 (US$ Million)
- 7.4 Pork
- 7.4.1 Overview
- 7.4.2 Pork: Meat Extract Market - Revenue and Forecast to 2028 (US$ Million)
- 7.5 Chicken
- 7.5.1 Overview
- 7.5.2 Chicken: Meat Extract Market - Revenue and Forecast to 2028 (US$ Million)
- 7.6 Others
- 7.6.1 Overview
- 7.6.2 Others: Meat Extract Market - Revenue and Forecast to 2028 (US$ Million)
8. Meat Extract Market Analysis - By Form
- 8.1 Overview
- 8.2 Meat Extract Market, By Form (2020 and 2028)
- 8.3 Powder
- 8.3.1 Overview
- 8.3.2 Powder: Meat Extract Market - Revenue and Forecast to 2028 (US$ Million)
- 8.4 Liquid
- 8.4.1 Overview
- 8.4.2 Liquid: Meat Extract Market - Revenue and Forecast to 2028 (US$ Million)
- 8.5 Others
- 8.5.1 Overview
- 8.5.2 Others: Meat Extract Market - Revenue and Forecast to 2028 (US$ Million)
9. Meat Extract Market Analysis - By Application
- 9.1 Overview
- 9.2 Meat Extract Market, By Application (2020 and 2028)
- 9.3 RTE & RTC Meals
- 9.3.1 Overview
- 9.3.2 RTE & RTC Meals: Meat Extract Market- Revenue and Forecast to 2028 (US$ Million)
- 9.4 Sweet & Savory Snacks
- 9.4.1 Overview
- 9.4.2 Sweet & Savory Snacks: Meat Extract Market- Revenue and Forecast to 2028 (US$ Million)
- 9.5 Soups & Sauces
- 9.5.1 Overview
- 9.5.2 Soups & Sauces: Meat Extract Market- Revenue and Forecast to 2028 (US$ Million)
- 9.6 Others
- 9.6.1 Overview
- 9.6.2 Others: Meat Extract Market- Revenue and Forecast to 2028 (US$ Million)
10. Meat Extract Market - Geographic Analysis
- 10.1 Overview
- 10.2 North America: Meat Extract Market
- 10.2.1 North America: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.2.2 North America: Meat Extract Market, by Type
- 10.2.3 North America: Meat Extract Market, by Form
- 10.2.4 North America: Meat Extract Market, by Application
- 10.2.5 North America: Meat Extract Market, by Key Country
- 10.2.5.1 US: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.2.5.1.1 US: Meat Extract Market, by Type
- 10.2.5.1.2 US: Meat Extract Market, by Form
- 10.2.5.1.3 US: Meat Extract Market, by Application
- 10.2.5.2 Canada: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.2.5.2.1 Canada: Meat Extract Market, by Type
- 10.2.5.2.2 Canada: Meat Extract Market, by Form
- 10.2.5.2.3 Canada: Meat Extract Market, by Application
- 10.2.5.3 Mexico: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.2.5.3.1 Mexico: Meat Extract Market, by Type
- 10.2.5.3.2 Mexico: Meat Extract Market, by Form
- 10.2.5.3.3 Mexico: Meat Extract Market, by Application
- 10.3 Europe: Meat Extract Market
- 10.3.1 Europe: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.3.2 Europe: Meat Extract Market, by Type
- 10.3.3 Europe: Meat Extract Market, by Form
- 10.3.4 Europe: Meat Extract Market, by Application
- 10.3.5 Europe: Meat Extract Market, by Key Country
- 10.3.5.1 Germany: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.3.5.1.1 Germany: Meat Extract Market, by Type
- 10.3.5.1.2 Germany: Meat Extract Market, by Form
- 10.3.5.1.3 Germany: Meat Extract Market, by Application
- 10.3.5.2 France: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.3.5.2.1 France: Meat Extract Market, by Type
- 10.3.5.2.2 France: Meat Extract Market, by Form
- 10.3.5.2.3 France: Meat Extract Market, by Application
- 10.3.5.3 Italy: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.3.5.3.1 Italy: Meat Extract Market, by Type
- 10.3.5.3.2 Italy: Meat Extract Market, by Form
- 10.3.5.3.3 Italy: Meat Extract Market, by Application
- 10.3.5.4 UK: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.3.5.4.1 UK: Meat Extract Market, by Type
- 10.3.5.4.2 UK: Meat Extract Market, by Form
- 10.3.5.4.3 UK: Meat Extract Market, by Application
- 10.3.5.5 Russia: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.3.5.5.1 Russia: Meat Extract Market, by Type
- 10.3.5.5.2 Russia: Meat Extract Market, by Form
- 10.3.5.5.3 Russia: Meat Extract Market, by Application
- 10.3.5.6 Rest of Europe: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.3.5.6.1 Rest of Europe: Meat Extract Market, by Type
- 10.3.5.6.2 Rest of Europe: Meat Extract Market, by Form
- 10.3.5.6.3 Rest of Europe: Meat Extract Market, by Application
- 10.4 Asia Pacific: Meat Extract Market
- 10.4.1 Asia Pacific: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.4.2 Asia Pacific: Meat Extract Market, by Type
- 10.4.3 Asia Pacific: Meat Extract Market, by Form
- 10.4.4 Asia Pacific: Meat Extract Market, by Application
- 10.4.5 Asia Pacific: Meat Extract Market, by Key Country
- 10.4.5.1 Australia: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.4.5.1.1 Australia: Meat Extract Market, by Type
- 10.4.5.1.2 Australia: Meat Extract Market, by Form
- 10.4.5.1.3 Australia: Meat Extract Market, by Application
- 10.4.5.2 China: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.4.5.2.1 China: Meat Extract Market, by Type
- 10.4.5.2.2 China: Meat Extract Market, by Form
- 10.4.5.2.3 China: Meat Extract Market, by Application
- 10.4.5.3 India: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.4.5.3.1 India: Meat Extract Market, by Type
- 10.4.5.3.2 India: Meat Extract Market, by Form
- 10.4.5.3.3 India: Meat Extract Market, by Application
- 10.4.5.4 Japan: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.4.5.4.1 Japan: Meat Extract Market, by Type
- 10.4.5.4.2 Japan: Meat Extract Market, by Form
- 10.4.5.4.3 Japan: Meat Extract Market, by Application
- 10.4.5.5 South Korea: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.4.5.5.1 South Korea: Meat Extract Market, by Type
- 10.4.5.5.2 South Korea: Meat Extract Market, by Form
- 10.4.5.5.3 South Korea: Meat Extract Market, by Application
- 10.4.5.6 Rest of Asia Pacific: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.4.5.6.1 Rest of Asia Pacific: Meat Extract Market, by Type
- 10.4.5.6.2 Rest of Asia Pacific: Meat Extract Market, by Form
- 10.4.5.6.3 Rest of Asia Pacific: Meat Extract Market, by Application
- 10.5 Middle East and Africa: Meat Extract Market
- 10.5.1 Middle East and Africa: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.5.2 Middle East and Africa: Meat Extract Market, by Type
- 10.5.3 Middle East and Africa: Meat Extract Market, by Form
- 10.5.4 Middle East and Africa: Meat Extract Market, by Application
- 10.5.5 Middle East and Africa: Meat Extract Market, by Key Country
- 10.5.5.1 South Africa: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.5.5.1.1 South Africa: Meat Extract Market, by Type
- 10.5.5.1.2 South Africa: Meat Extract Market, by Form
- 10.5.5.1.3 South Africa: Meat Extract Market, by Application
- 10.5.5.2 Saudi Arabia: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.5.5.2.1 Saudi Arabia: Meat Extract Market, by Type
- 10.5.5.2.2 Saudi Arabia: Meat Extract Market, by Form
- 10.5.5.2.3 Saudi Arabia: Meat Extract Market, by Application
- 10.5.5.3 UAE: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.5.5.3.1 UAE: Meat Extract Market, by Type
- 10.5.5.3.2 UAE: Meat Extract Market, by Form
- 10.5.5.3.3 UAE: Meat Extract Market, by Application
- 10.5.5.4 Rest of MEA: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.5.5.4.1 Rest of MEA: Meat Extract Market, by Type
- 10.5.5.4.2 Rest of MEA: Meat Extract Market, by Form
- 10.5.5.4.3 Rest of MEA: Meat Extract Market, by Application
- 10.6 South and Central America: Meat Extract Market
- 10.6.1 South and Central America: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.6.2 South and Central America: Meat Extract Market, by Type
- 10.6.3 South and Central America: Meat Extract Market, by Form
- 10.6.4 South and Central America: Meat Extract Market, by Application
- 10.6.5 South and Central America: Meat Extract Market, by Key Country
- 10.6.5.1 Brazil: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.6.5.1.1 Brazil: Meat Extract Market, by Type
- 10.6.5.1.2 Brazil: Meat Extract Market, by Form
- 10.6.5.1.3 Brazil: Meat Extract Market, by Application
- 10.6.5.2 Argentina: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.6.5.2.1 Argentina: Meat Extract Market, by Type
- 10.6.5.2.2 Argentina: Meat Extract Market, by Form
- 10.6.5.2.3 Argentina: Meat Extract Market, by Application
- 10.6.5.3 Rest of South and Central America: Meat Extract Market -Revenue and Forecast to 2028 (US$ Million)
- 10.6.5.3.1 Rest of South and Central America: Meat Extract Market, by Type
- 10.6.5.3.2 Rest of South and Central America: Meat Extract Market, by Form
- 10.6.5.3.3 Rest of South and Central America: Meat Extract Market, by Application
11. Impact of COVID-19 Pandemic on Meat Extract Market
- 11.1 Impact of COVID-19 on Meat Extract Market
- 11.2 North America: Impact Assessment of COVID-19 Pandemic
- 11.3 Europe Impact Assessment of COVID-19 Pandemic
- 11.4 Asia Pacific: Impact Assessment of COVID-19 Pandemic
- 11.5.5 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
- 11.6 South & Central America: Impact Assessment of COVID-19 Pandemic
12. Company Profiles
- 12.1 Colin Ingredients
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
- 12.2 Carnad Natural Taste
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
- 12.3 Diana Group
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
- 12.4 PT Foodex Inti Ingredients
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
- 12.5 Givaudan S.A.
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
- 12.6 JBS SA.
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
- 12.7 Maverick Biosciences Pty Ltd
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
- 12.8 Nippon Ham Group
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
- 12.9 Titan Biotech Limited
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments
- 12.10 Proliant Biologicals, LLC
- 12.10.1 Key Facts
- 12.10.2 Business Description
- 12.10.3 Products and Services
- 12.10.4 Financial Overview
- 12.10.5 SWOT Analysis
- 12.10.6 Key Developments
13. Appendix
- 13.1 About The Insight Partners
- 13.2 Word Index