According to latest Fact.MR statistics, global demand for specialised meat ingredients is anticipated to grow at a CAGR of 5% by 2031. By the end of the projection period, the market is expected to be worth US$ 5.2 billion. The growing need for long-lasting products is fuelling the demand for speciality meat ingredients.
The market grew at a less than 5% CAGR, reaching US$ 3.2 billion at the conclusion of the 2016-2020 historical period. As the COVID-19 pandemic unfolded, an increasing number of individuals began eating plant-based foods, fearful of getting the virus through meat items. This has significantly influenced demand for speciality meat ingredients in the last year.
Furthermore, the demand for plant-based speciality foods ingredients is expanding as the global consumption of organic and vegan foods rises. The usage of plant-based components in specialised meals is being driven by a number of health and wellness concerns. To meet customer demand, the market is projected to see significant investment in research & development for raising processed meat.
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Key Segments Covered
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Ingredient Type
- Fiber & Protein Specialty Meat Ingredients
- Starch & Derivative Specialty Meat Ingredients
- Acidulant Specialty Meat Ingredients
- Hydrocolloid Specialty Meat Ingredients
- Other Specialty Meat Ingredients
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Function
- Specialty Meat Ingredients for Moisture Control
- Specialty Meat Ingredients for Yield Improvement
- Specialty Meat Ingredients for Coloring & Flavoring
- Specialty Meat Ingredients for Preservation
- Specialty Meat Ingredients for Fillers & Extenders
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End Use Application
- Specialty Meat Ingredients for Bakery & Confectionery
- Specialty Meat Ingredients for Snacks
- Specialty Meat Ingredients for Frozen Desserts
- Specialty Meat Ingredients for Blends, Dressings & Dips
- Specialty Meat Ingredients for Soups & Sauces
- Specialty Meat Ingredients for Meat & Seafood
Key Takeaways from the Market Study
- By ingredient type, fiber & protein specialty meat ingredients demand is likely to surge at 4% CAGR
- Meat & Seafood to emerge as primary end use application area, accounting for 40% of global demand
- 3 out of 10 specialty meat ingredients sales will account for preservation functions
- U.S continues to lead the way in the specialty meat ingredients market, capturing 1/3rd of global revenue
- Asia to emerge as the fastest growing market, registering a CAGR of 4.5% through 2031
- Global specialty meat ingredients industry to add 1.6x the market value by 2031
Key Companies Profiled
- Cargill
- ADM
- DuPont de Nemours Inc.
- Ingredion Incorporated
- Kerry Group Plc.
- Koninklijke DSM N.V
- Chr. Hansen A/S
- Sensient Technologies
- Tate & Lyle PLC
- Givaudan
- Biocatalysts Ltd.
- Omega Protein Corporation
- Enzyme Supplies Limited
- FDL Ltd
- Nutriati Inc.
- Crespel & Dieters GmbH & Co. KG
- Axiom Foods Inc.
- Amano Enzyme
- Amicogen
- Aminola
Competitive Landscape
Strategic collaborations enable specialty meat ingredients to increase revenue and market share. The implementation of new technologies in the development of processed meat allows manufacturers to expand their footprints in the market.
- Barentz International, a global distributor of life science, purchased Maroon Group to grow business in North America. There will be synergies for both companies with this acquisition.
- In September 2020, Roquette announced that Barentz would serve as its strategic partner in the American market to offer pharmaceutical and nutraceutical products.
- In January, 2020, Ingredion obtained a 100% stake in a joint venture that accelerates the plant-based protein market. Ingredion has signed a definitive contract with Suzy Amis Cameron and James Cameron for the acquisition of the remaining portions of Verdient Foods Inc. that it did not already own.
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