The Asia Pacific Meat Extract Market would witness market growth of 7.6% CAGR during the forecast period (2021-2027). The growing health awareness among consumers along with the rising consciousness regarding the significance of protein-rich diets would augment the demand for the product during the forecast period.
Leading players are undergoing R&D activities combined with economic development in emerging nations which will contribute to the growth of the market. Meat extracts find considerable applications in the food industry including sauces, meats, soups, soup powders, seasonings, and coatings. In addition to it, these applications are growing in terms of number and volume as the food industry is launching innovative products.
The emergence of ultra-modern manufacturing abilities with multistep processes provides a better focus on the quality of meat extract in order to minimize the spread of diseases from animals to humans. Though, a strict inspection of food and beverages in the industry, due to the growing demand for halal and kosher-certified items would influence the supply and sales of meat extracts.
The rising purchasing power of consumers will also boost the growth of the meat enzymes market. There is a high shift from conventional meat to packaged meat items owing to the hectic lifestyle trends in both emerging and developed nations, causing a high demand for meat extracts. In addition, with the increasing consumer consciousness with respect to the consumption of high-nutrition food, the demand for protein is rising hence fueling the development of the meat extract market.
The China market dominated the Asia Pacific Pork Market by Country in 2020, thereby, achieving a market value of $300.2 million by 2027. The Japan market is showcasing a CAGR of 9% during (2021 - 2027). Additionally, The India market is poised to witness a CAGR of 9% during (2021 - 2027).
Based on Application, the market is segmented into Industrial and Commercial. Based on Form, the market is segmented into Powder, Paste, Liquid and Granules. Based on Type, the market is segmented into Beef, Chicken, Fish, Turkey, Pork and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Meat Extract Market is Projected to reach USD 20.8 Billion by 2027, at a CAGR of 6.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Givaudan S.A., Symrise AG (Diana Group), Haco Holding AG, JBS USA Holdings, Inc. (JBS S.A), WH Group Limited (Smithfield Foods, Inc.), NH Foods Ltd., Titan Biotech Ltd., Carnad Natural Taste, Chimab S.p.A, and Inthaco Co., Ltd.
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