The Asia Pacific meat extract market is expected to grow from US$ 427.09 million in 2021 to US$ 643.29 million by 2028; it is estimated to grow at a CAGR of 6.0% from 2021 to 2028.
Consumers in Asia Pacific are paying attention to product labels and ingredients used in processed food products. The popularity of organic products is growing with the rise in awareness among the masses regarding their health benefits. The organic farming processes are free of pesticides, chemical fertilizers, and genetically modified organisms (GMOs), which increases their appeal among consumers, who are ready to pay high prices for such high-quality products. Clean-label meat products are free of synthetic flavors, colors, and other food additives, including anti-caking agents, stabilizers, and preservatives. Furthermore, they are devoid of growth hormones and antibiotics. With a significant focus on holistic and conscious consumption, consumers these days prefer products with ethically sourced ingredients, such as beef, chicken, or pork. Symrise, one of the key manufacturers of meat extracts, offers 100% natural and organic beef extracts in liquid and powder forms. Similarly, Kerry Group Plc offers certified organic and NAE (i.e., no-antibiotics-ever) meat broths and stocks that can be used in the production of soup mixes, sauces, gravies, and others. Symrise also offers Halal- and Kosher-certified meat extracts that fulfill specific requirements of consumers. Thus, the increasing demand for clean label and organic meat extracts is expected to provide lucrative growth opportunities to the Asia Pacific meat extract market during the forecast period.
Vendors in the Asia Pacific meat extract market are leveraging new technologies to attract new customers and expand their footprints in emerging markets by offering products with enhanced features. This factor is likely to drive the Asia Pacific meat extract market at a notable CAGR during the forecast period.
Asia Pacific Meat Extract Market Segmentation
The Asia Pacific meat extract market is segmented on the basis of type, form, application, and country. Based on type, the market is segmented into beef, pork, chicken, and others. Based on form, the Asia Pacific meat extract market is segmented into powder, liquid, and others. Based on application, the market is divided into RTE & RTC meals, sweet & savory snacks, soups & sauces, and others. Based on country, the Asia Pacific Meat Extract Market is segmented into the China, Japan, India, Australia, South Korea and Rest of Asia Pacific.
Asia Pacific Meat Extract Market —Companies Mentioned
Colin Ingrédients; 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 are a few major companies operating in the Asia Pacific Meat Extract Market.