Meat Flavors Market

Meat Flavors Market Size and Growth (2023-2028):

The Global Meat Flavors Market size is expected to grow at a CAGR of 5.7% during the forecast period 2023-2028 to reach USD 4.92 billion by 2028 from USD 3.06 billion in 2022.

Market Overview:

The rich and distinct flavor profiles present in various types of meats are known as meat flavors. They are mainly produced from a combination of various components, including the diets of animals, cooking methods, and innate qualities. Pork feature a mix of sweet and umami flavors, whereas beef commonly has a significant, savory flavor. Like chicken and turkey, poultry has become known for being softer and more delicate. Due to their natural environments, wild game meats often have distinct, earthy, or gamy flavors. These flavors can be improved or changed when food is prepared using grilling, roasting, or smoking processes. Meat is a staple element in many cuisines around the world due to its diverse flavors, which allow for a wide range of tastes and culinary creations.

Recent Developments in the Meat Flavors Industry:

• In June 2021, A new C3307 Chicken Flavour was introduced by Essentia Protein Solutions as part of its ProFlavor portfolio. By expanding its present product line, this launch has bolstered its market position.

REPORT COVERAGE:

Drivers:

The increasing demand for convenience foods is significantly driving the meat flavors market expansion. As more people are becoming busy these days, they are seeking convenient foods like prepackaged meals, frozen dinners, and ready-to-eat snacks. Also, they are highly used in preparing various sauces, soups, and instant noodles. This boosts the need for meat flavors as they enhance the taste of convenient food and attract a large consumer base by offering various flavors. By fulfilling the changing demands of time-conscious consumers, their need for tasty convenience foods fosters the development of a wide variety of meat flavors, which in turn helps the market expand.

The rising demand for exotic food flavors is further driving the meat flavors market growth. There is a growing demand for meat products that have been flavored with natural and diverse international flavors as consumer tastes become more global-focused and experimental. In response to consumer demand for unique flavor experiences, this trend fosters the development of a wide variety of meat flavors that capture the essence of other cuisines. This not only enhances the taste of food products but also innovates various meals and dinners using distinct meat flavors. This is contributing to increasing the market demand.

Another driver of market growth is the growing trend toward plant-based and vegan diets. There is an increasing need for meat substitutes that closely resemble the flavor and texture of traditional meat products as more people switch to vegan and plant-based diets. This demand has resulted in the creation of a wide range of plant-based protein products, including vegan meatballs, veggie burgers, and plant-based sausages, all of which need delicious tastes that attract consumers. Hence these meat flavors not only make plant-based foods enjoyable but also attract people who are switching to veganism, which is boosting the market and promoting innovation in the creation of functional meat-like flavor profiles for a wide range of vegan products.

Restraints:

The growing concerns about health and nutrition are restraining the market demand globally. These days people are becoming highly focused on health and nutrient intake, which is essential to promote overall growth. Certain meat flavors, particularly those that contain large amounts of sodium, chemicals, or artificial ingredients, can cause concerns over their potentially harmful health effects. This concern may lead to a rise in the demand for healthier meat flavors with fewer extra ingredients. Also, some people shift towards other food alternatives, which restricts the demand for the market.

Also, the high cost of meat flavors is a major restraint to market growth. The cost of production of meat flavors can be high because it may involve complex processes and extra ingredients. The high prices of meat flavors also stimulate the prices of food products made with it. Hence, with the total increase in the prices of meat flavors and food products based on them, people with restricted budgets can not afford these products, which limits the demand for the market.

Opportunities:

Health-driven innovation offers growth opportunities for the market. This involves producing products that satisfy consumers' growing need for healthier food options while simultaneously delivering excellent taste. This approach fits with consumers' growing awareness of the importance of a balanced diet and their wish to make more informed dietary choices. Creating low-sodium meat flavors addresses concerns about salt consumption, which may contribute to issues like hypertension. Manufacturers can produce products that enhance cardiovascular health while still offering a pleasing and savory culinary experience by developing flavors with lower sodium content. Likewise, adding extra nutritional benefits to meat flavors might increase their attraction. Herbs, spices, and other naturally occurring flavor enhancers can improve the nutritional value of the meat flavors by introducing antioxidants, vitamins, and minerals that improve overall well-being. This can create numerous opportunities for the market in the future.

COVID-19 Impact on Meat Flavors Market:

The COVID-19 pandemic has had a significant impact on people's day-to-day activities, particularly their eating preferences, which ultimately had an impact on the meat flavors market demand. During the pandemic, people's meat consumption was influenced by several variables, including availability, and price of it, also economic factors like income and personal preferences. As the pandemic caused supply chain disruptions, transportation problems, and lockdowns, the availability and prices of meat flavors were majorly affected. Also, due to restaurant closings, demand for some meat flavors decreased, which had an impact on producers and the market. However, the pandemic caused a rise in home cooking, which stimulated consumer demand for flavor-enhancing products like meat flavors. This promoted market demand.

Meat Flavors Market Segmentation Analysis:

By Flavor Type:

• Natural Meat Flavor
• Artificial Meat Flavor

By type, the natural meat flavor segment is dominating the meat flavors market share during the forecasted period. Natural components that resemble the flavor of meat, and real meat, are used to create natural meat flavors. Typically, extraction, distillation, or fermentation are used to extract these flavors from real meat. They provide many food products with a true, genuine meat flavor that attracts customers looking for all-natural flavors, contributing to an increase in the demand for this segment. At the same time, the artificial meat flavors segment is expected to grow significantly during the projected period. Chemical compounds that resemble the flavor of meat are used to create artificial meat flavors. When compared to natural alternatives, artificial meat flavors are more affordable and adaptable for producing certain flavors. This attribute influences the shares of the market.

By Type:

• Beef
• Chicken
• Pork
• Turkey
• Fish & Seafood
• Others

By flavor type, the beef segment is ruling the meat flavors market share during the anticipated period. Beef flavors can range from juicy and savory to rich, umami flavors. These flavors are added to a variety of food products, which include processed meats, soups, sauces, and snacks. Thus expanding the demand for this segment. However, the chicken segment is expected to grow at the fastest rate during the projected period. Chicken flavors are commonly used in several products, including ready-to-eat meals, snacks, gravies, and broths, offering consumers a consistent and familiar chicken taste.

By Application:

• Soups & Sauces
• Instant Noodles
• Ready Meals
• Savories
• Baked Goods

By application, the soups and sauces segment is ruling the meat flavors market demand during the expected period. To enhance the flavor and smell of these culinary creations, soups and sauces regularly make use of meat flavors. They enhance the overall taste by adding layers of flavor to broths, gravies, sauces, and stews. This attribute is significantly contributing to an increase in the demand for meat flavors in this segment. Whereas the bakes goods segment is deemed to grow significantly in the upcoming years.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

By Region Analysis:

North America is anticipated to rule the meat flavors market share during the forecasted period. The demand for authentic and innovative meat flavors to improve these culinary experiences is driven by the consumer's strong attraction to a range of meat-based foods, especially burgers, steaks, and barbecues. This increased use of meat flavors is promoting the total shares of the market in this region. However, the Asia Pacific region is expected to grow at the fastest CAGR during the anticipated period. In this region, the tastes of popular foods like stir-fries, curries, and traditional meat-based preparations are greatly influenced by the meat flavors. As consumers look to enjoy a broad range of flavors, there is a considerable demand for both domestic and foreign meat flavors, which is influencing the overall market growth in this region.

Key Players in the Market:

Major Key Players in the Global Meat Flavors Market are

• Firmenich SA
• Kerry Group plc
• Koninklijke DSM N.V.
• Essentia Protein Solutions
• International Flavors & Fragrances Inc.
• Sensient Technologies Corporation
• Givaudan
• Symrise AG