Global Meat Ingredients Market - Growth, Trends and Forecasts (2018 - 2023)
Meat ingredients change the characteristics and properties of the meat and provide unique features. Meat ingredients also contribute to the properties of processed meat products; the properties are likely to be changed if these components are reduced or unused, thus making them a crucial part of most processed meats. The global meat ingredients market is expected to register a CAGR of 5.8% during the forecast, 2018-2023. The Asia-Pacific market is expected to witness the highest CAGR, during the forecast period; this growth will be accounted mostly due to the increase in the per capita meat consumption and also processed meat industries in developing countries, such as China, India, Vietnam, Thailand, and Japan.
The global meat ingredients market is growing rapidly. A major factor propelling this market is the high demand for convenience foods, such as instant beverages and snacks. Other factors, such as the increasing user application in processed foods such as meat, frozen meat, etc., along with nutrition and taste convergence, which increased the usage of flavoring agents and salts, are also driving this market. However, factors like quality standards, clean labeling, and health concerns are hindering the market. The meat processing technology will also contribute to the improvement of heavily extended meat products.
The market for meat ingredients is segmented by type of ingredients into binders, extenders, flavoring agents, preservatives, etc., in which the binders market holds the largest share. Meat extenders are non-meat substances with substantial protein content, whereas fillers are high in carbohydrates. Meat extenders and fillers are primarily used with the objective of making meat products lower-cost. By meat type, the meat ingredients market is classified into beef, chicken, mutton, pork and others. Beef holds a significant portion in this category. By product type, the market is segmented into fresh processed meat, raw-cooked meat, precooked meat and others.
Various flours are primarily used in extended traditional meat products from Asia-Pacific. One well known example is Moo-Yoh. Asia-Pacific was estimated to be the largest market for meat ingredients, in 2017. This region is projected to be the fastest-growing market, with a CAGR during the forecast period. This growth is mainly due to a large number of food processing and storage industries, particularly in developing countries, such as India, Japan, China, and few other Asian countries. In Africa, the main traditional meat processing methods are meat salting, drying and smoking.Major PLAYERS: E. I. DU PONT DE NEMOURS AND COMPANY, KERRY GROUP PLC, ASSOCIATED BRITISH FOODS PLC, WIBERG GMBH, PROLIANT NON-MEAT INGREDIENTS, CAMPUS SRL, WENDA INGREDIENTS, ADVANCED FOOD SYSTEMS, INC., ALISEIA SRL and REDBROOK INGREDIENT SERVICES LIMITED, amongst others.
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