Meat Extract Market Size, Share & Trends Analysis Report By Type (Chicken, Pork, Beef, Fish, Turkey, Others), By Form (Powder, Paste, Liquid, Granules), By Application, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global meat extract market size was valued at USD 15.97 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2023 to 2030. The market is anticipated to be driven by changing global diet trends, market developments, and R&D initiatives taken by major companies in the food sector leading to economic growth in the industry. Increasing consumption of a protein-rich diet and rising health consciousness is anticipated to drive the product demand over the next few years. In addition, the growing popularity of beef due to its various certifications, such as halal and kosher, will contribute to the market growth. According to the Organization for Economic Co-operation and Development (OECD), the total poultry and livestock production in the U.S. is expected to grow at a high rate with increased production of pork, beef, and broiler in 2019.

The country also accounted for some of the highest expansions in export volumes in 2019. This factor, in turn, is likely to augment the production of pork extracts tracing the growth of meat production in the country. As per the USDA Statistics, global per capita meat consumption is expected to rise at a decent rate by 2025. Processed meat manufacturers are coming up with new products and also adding new flavors to the existing range of products. Innovative launches, such as meat straws by Benny’s Original in different varieties like beef and pork straws, are expected to propel market growth.

As per the data published by the Food and Agriculture Organization (FAO), the total meat production in the world is expected to reach nearly 366 million tons by 2029. Of the total additional output, 76% will be predominantly contributed by the developing countries. Improved genetics, low feed costs, as well as growing demand for meat are anticipated to result in high production values. Subsequently, the market is expected to benefit from the rise in the production of meat over the forecast years.

Companies including Tillamook Country Smoker and Kerry Foods have come up with new branding methods and innovative products, such as cranberry & pineapple flavored turkey jerky and barbecue flavored meatballs. The novel product segments are expected to result in higher market penetration for the meat extracts industry over the forecast period.

The growing purchasing power of consumers will also support market growth. There is an increased shift from conventional meat to packaged meat products due to fast-tracked life in both developing as well as developed countries, resulting in an increased demand for meat extracts. Moreover, with the growing consumer awareness regarding the consumption of high-nutrition food, the demand for protein is increasing all over the world, thereby augmenting the market growth.

The estimates by Tyson Foods, Inc. suggest that the global consumption of protein increased from 257 billion tons in 2013 to 298 billion tons in 2020. The increasing number of consumers in the Asia Pacific region are opting for animal and animal products as a feasible source of protein. This is expected to propel the product demand over the forecast period.

Type Insights

In terms of volume, the chicken type segment led the market and accounted for a share of more than 25.79% in 2022. The increasing demand for poultry and poultry products due to the easy availability and affordable rates has contributed to the large volume share of the global chicken meat extracts market. Chicken has gained increased popularity among fitness-savvy consumers as it has high protein content compared to most other common meat products. The low cost of these products and their manufacturing has made chicken an effective choice for manufacturers and consumers.

The pork extracts segment is anticipated to observe a significant growth rate over the forecast period on account of an increase in demand for protein-rich and RTE foods. The rise in demand for pork extracts owing to better taste and high nutritional value is expected to positively influence the segment growth over the forecast period.

Beef is the culinary name for meat obtained from bovine animals and is the second most-consumed meat after chicken. The demand for beef extracts is increasing as there is a high demand for fresh meat without equivalent supply caused by political and environmental factors. Other factors contributing to increased consumption of beef extracts are food safety issues including pathogen detection and chemical residues in other meats, such as poultry and pork.

Application Insights

By application, the ready meals dominated the market in 2022 with 33.40% revenue share. The increasing awareness about health and nutrition is influencing the market for ready meals with meat extracts. Consumers are becoming more conscious of their dietary choices and are looking for options that offer both convenience and nutritional value. Meat extracts used in ready meals can provide a rich source of protein, essential amino acids, and other nutrients, making them an attractive choice for health-conscious individuals.

The meat extracts soup and broths application is poised to expand at the highest CAGR of 5.8% by revenue from 2023-2030. There is a growing consumer demand for convenient and ready-to-eat food products that offer both nutritional value and delicious taste. Soup and broths made with meat extracts provide a flavorful base for various recipes, making them popular among individuals seeking quick and easy meal options.

Form Insights

The powder form led the market in 2022 with a revenue share of more than 46.18%. Meat extract powder is a potent and rich form of meat stock, which is obtained from chicken, beef, pork, and fish, and is used to make broth for soups and liquid-based foods. The product is insoluble in alcohol while being highly soluble in water and has a distinctly characterized aroma that gives food products the aroma of meaty flavor. The powdered products are rich in nutrients, such as organic acids, vitamins, minerals, nucleotides, polypeptides, amino acids, creatinine, and creatine. The segment is expected to show high growth prospects over the forecast period due to its increased use in food products as a flavor & nutrient enhancer.

Meat extract pastes are derived from mutton, fish, chicken, beef, and pork and are widely used in the manufacturing of baked & puffed goods, instant noodles, gravies, bouillons & bouillon cubes, canned meat items, pot pies, casseroles, stews, sauces, and soups. The meat extracts-based paste adds aroma and enhances the flavors of food products. Rising consumer preference for healthy foods that are prepared using natural additives or flavorings will support segment growth. Companies, such as Nikken Foods Co. Ltd., Carnad A/S, and BRF, focus on R&D activities on varied formulations of meat extracts that adhere to the aforementioned concerns of consumers.

In North America, especially in the U.S., the consumer demand for RTE soups is increasing with the products being an essential part of the American household. In addition, low substitution prospects are likely to result in stable product sales over the forecast period. The industry is anticipated to witness significant growth in demand for concentrates-based meat extracts and stock/broth due to various factors, such as decreasing average household size and increasing number of working individuals.

Regional Insights

North America was the most dominant regional market in 2022 and accounted for a revenue share of over 37.23%. North America is expected to show steady growth over the forecast period owing to the rising consumption of animal-rich protein sources. In addition, the U.S. was one of the leading producers of beef and is expected to maintain its position over the forecast years. Growing consumption of red meat-based products in Mexico is expected to drive the regional market.

Product traceability is a major drift that exhibits the demand for meat extracts in North America. A rise in the demand for and consumption of canned foods, increasing population, and new technological improvements are some major factors anticipated to contribute to the regional market growth over the forecast period.

In addition, the U.S. has a well-established meat-centric culinary culture, with meat playing a central role in many traditional American dishes. Meat extracts serve as a convenient way to infuse these beloved flavors into various recipes, catering to the American preference for rich and savory tastes.

Europe dominated the market and accounted for CAGR of 4.9% in 2022. The growing awareness of health and wellness has influenced the market for meat extracts in Europe. While meat extracts are typically used in small quantities, they provide a concentrated flavor profile, allowing consumers to enhance the taste of their dishes without the need for excessive salt or artificial flavor enhancers. This aligns with the increasing demand for clean label products and the desire for reduced sodium and additive-free options. Meat extracts can contribute to the overall perception of healthier and more natural food choices, appealing to health-conscious consumers.

Factors, such as increasing demand for convenience food, changing lifestyles, and rise in consumer disposable income, are contributing to the market development in Europe. The consumption of beef extracts is expected to increase with the improving economic conditions and due to lower prices of these products.

In addition, according to an article published on Beef 2 Live, Germany has a wide range of meat options that are commonly enjoyed by its residents. The most favored varieties include pork, beef, and poultry. Among these, pork holds the title for being the most popular, with individuals consuming an average of 61 kg (134 lb) of meat per year. When it comes to poultry, chicken takes the lead, followed by duck, goose, and turkey. Additionally, game meats such as boar, rabbit, and venison are readily available throughout the year.

Asia Pacific is expected to be the fastest-growing regional market over the forecast period owing to the rising consumption of processed and conventional chicken products in emerging countries, such as Japan, China, and India. Other factors driving the regional market include increasing economic growth, rising consumer preference for healthy food, and growing disposable income levels. Moreover, Asia Pacific is considered the largest consumer base for chicken powder. However, consumers are now increasingly shifting their preferences towards other variants, such as pork and fish meat extracts.

In addition, the influence of Western cuisines and culinary trends in the region is also fueling the demand for meat extract. As consumers become more exposed to international flavors and cooking styles, there is a growing inclination towards incorporating meat extract in Asian and fusion cuisines.

Key Companies & Market Share Insights

The companies market their products with customization services. The change in the type of product category, such as seafood, beef, and pork, coupled with the change in taste preference of consumers is likely to increase customization of the products. Moreover, local players cater to the local market providing highly customized products with a variety of recipes. Product convenience and its ease-of-use are also important factors in driving their popularity among consumers.

Most of the companies need to rely on a continuous and undisrupted flow of raw materials, such as raw meat. To maintain this flow, companies create various types of agreements, partnerships, and ventures with local suppliers, which ensures high-quality raw materials. These forms of strategic partnerships also assure a timely production schedule for producers. Top players in the industry can derive such strategic partnerships and agreements with local players/suppliers and ensure continuous product supply.

In June 2021, Essentia Protein Solutions introduced a new addition to its ProFlavor line called C3307 Chicken Flavor. This latest flavor option offers several benefits, including a higher protein content, reduced carbohydrate levels, and no additional salt. It is specifically designed to assist in the creation of lower-sodium products while still delivering a strong and authentic chicken taste. The composition of C3307 Chicken Flavor consists of 75% protein and naturally occurring collagen. Importantly, it is produced without the use of genetically modified organisms (GMOs) and is free from common allergens, dairy, and gluten. This versatile flavor can be incorporated into different food applications, such as soups, sauces, gravies, and various meat dishes. Some of the prominent players in the global meat extract market include:

• Givaudan

• Nikken Foods

• Essentia Protein Solutions

• IDF

• Haco Holding AG

• CHIMAB S.p.A.

• Foodex Inti Ingredients, PT

• Titan Biotech Ltd.

• Carnad A/S

• JBS S.A.    

• Henan Yong Da Foods

• Diana Group

• Maverick Biosciences        

• Idf (International Dehydrated Foods, Inc.)

• Activ International      

Meat Extract Market Report Scope 

Global Meat Extract Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2017 to 2030 in each of the sub-segments. For the purpose of this study, Grand View Research has segmented the global meat extract market report based on type, form, application, and region:

• Type Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2030)

  • Chicken

  • Pork

  • Beef

  • Fish

  • Turkey

  • Others

• Form Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2030)

  • Powder

  • Paste

  • Liquid

  • Granules

• Application Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2030)

  • Ready Meals

  • Snacks

  • Soups & Broths

  • Seasonings

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2030)

  • North America

    • U.S. 

    • Mexico

    • Canada

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

  • Central & South America (CSA)

    • Brazil

    • Argentina

  • Middle East & Africa (MEA)

    • South Africa

    • U.A.E.