ALBANY, N.Y., Feb. 23, 2023 /PRNewswire/ — The use of meat flavors is rising in convenience food products including soup, sausage, instant noodles, and several ready-to-eat meals to satisfy the appetite for meat enthusiasts. Stakeholders are witnessing lucrative avenue from the prospect of exotic flavors for plant-based food manufacturers. Growing R&D on bold flavor and aroma among vegan population has opened up new frontiers. The global meat flavors market is projected to expand at CAGR of 5.6% during the forecast period of 2023–2031.
The increasing trend of natural food flavors among businesses in the foodservice industry has created profitable opportunities, find the authors of a TMR study on the global meat flavors market. Moreover, clean labelling of food products has generated impetus to use of these in food & beverages. The authors notes that the natural meat flavor segment held a leading share of the market in 2023.
Extensive R&D on sensory characteristics of flavors has led to the utilization of exotic and ethnic flavors, thereby fueling sales revenues in the meat flavors market. The popularity of chicken meat has propelled the uptake of chicken flavors.
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Key Findings of Meat Flavors Market Study
- Exotic Flavors and Natural Meat Flavors for Various Foods Underpins Profitable Opportunities: Exotic flavors are attracting substantial demand among vegan population globally. Additionally, the demand for unique flavors is rising among flexitarian worldwide.
- Chicken and Beef Flavors to Generate Abundant Revenues: The increasing popularity of beef flavors has generated value-grab opportunities for companies in the meat flavors market. The growing trend of plant-based meat flavors is rising in food service industry, which thus is feeling revenue growth. The beef flavor segment is anticipated to advance at a CAGR of 5.6% during the forecast period, find the TMR study on the meat flavors market. On the other hand, F&B customers are witnessing substantive revenue gains from the rise in demand for chicken flavors particularly for customers in North America.
- Hybrid and Plant-Based Meat Products to Gain Traction in Foodservice Industry: The significant numbers of meat enthusiasts in Europe and Asia Pacific find plant-based meat flavors as healthier option than meat, thus opening a new avenue in the meat flavors market. There is thus a conscious shift toward hybrid and plant-based meat products over the past few years. The trend is expected to continue in the foodservice industry.
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Meat Flavors Market: Key Drivers
- The demand for new sensory tastes & flavors among meat enthusiasts has reinforced investments in the meat flavors market. In addition, vegan, vegetarian, and flexitarian populations are exploring exotic flavors, including from plant-based meat. This is driving the meat flavors market.
- Changing regulations pertaining to clean labelling of ready-to-eat meat products has been driving interest in natural flavors. Furthermore, recent months have witnessed a recovery in demand in the HoReCa (Hotels, Restaurants, Cafes) industry.
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Meat Flavors Market: Regional Growth Dynamics
- The Asia Pacific meat flavors market is projected to expand at remarkable pace during the forecast period of 2023–2031. China, Indonesia, Thailand, Malaysia, and Japan have been witnessing abundant demand for unique flavors for meat consumers. The valuation of the South Asia market is projected to advance at CAGR of 6.8%.
- Enormous revenue potential in Europe is underpinned by substantial number of consumers of meat and meat products. The Europe meat flavors market is also thriving on the back of flavors for plant-based meat.
Meat Flavors Market: Key Players
The study presents a detailed assessment of the key financials of various players, strategies of leading players, and a scrutiny of the product portfolio. Some of the prominent players in the meat flavors market are Trilogy Essential Ingredients, Inc., T. Hasegawa USA Inc., Pet Flavors Inc., PA Aromatics, Nikken Foods Co., Ltd., Nactis Flavors, H E Stringer flavors Ltd., Givaudan S.A., Kerry Group, Fooding Group Limited, Firmenich SA, DSM, Calaf Nuances S.L., and Essentia Protein Solutions.
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Meat Flavors Market Segmentation
Meat Flavors Market, by Nature
- Natural
- Artificial
Meat Flavors Market, by Flavor Type
- Chicken
- Beef
- Pork
- Turkey
Meat Flavors Market, by Application
- Baked Goods
- Snacks
- Savory
- Soups
- Sauces
- Ready-to-Eat Meals
- Meat Analogues
- Processed Meat
- Pet Food
Meat Flavors Market, by Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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