The Latin America, Middle East and Africa Meat-Based Flavors Market would witness market growth of 7.3% CAGR during the forecast period (2023-2029).
In light of the ongoing coronavirus outbreak, consumer patterns in home cooking are translating into business prospects for producers of meat flavors. Due to the pandemic's increase in smartphone users, brands are taking advantage of the revenue potential offered by e-Commerce as well as mobile shopping apps. To lessen reliance on imports of raw resources, manufacturers are improving regional production capacities. To avoid supply chain disruptions, they are keeping factories and manufacturing facilities' inventory levels at optimal levels. The HoReCa (Hotels, Restaurants, Cafes) sector's reopening assists in reviving market growth while addressing dangers related to new versions like Omicron and NeoCoV.
Meals that contain meat, cattle, poultry, pig, fish, and other forms of the desired flavoring are provided. The use of meat flavors is primarily limited to processed foods, ready-to-eat meals, soups, sausages, baked goods, instant noodles, savory foods, and other food items. The enormous meat consumer base and expanding acceptance of meat consumption, brought on by the increasing demand for nutrients and proteins, are the main drivers of the market's expansion. With the aid of research and development in science and technology, meat flavors may be found in many culinary products. In order to supply a wide range of meat flavors, market participants are searching for new prospects in the food and beverage sector while concentrating on enhancing product quality through research, development, and innovation.
One of the UAE's fastest-growing industries is the hotel sector, which is located in Abu Dhabi. This growth is the result of both increased investments in the hospitality sector and an increase in the percentage of new business owners and entrepreneurs. Because of the new year's celebration as well as the commemoration of several national and international events, a large number of tourists were attracted to the region. Due to the increased demand for high-end dining options, the hospitality industry is expanding. These components provide industry players in the market with substantial expansion prospects in the LAMEA region.
The Brazil market dominated the LAMEA Meat-Based Flavors Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $99.5 million by 2029. The Argentina market is experiencing a CAGR of 7.9% during (2023 - 2029). Additionally, The UAE market would showcase a CAGR of 7% during (2023 - 2029).
Based on Application, the market is segmented into Soups & Sauces, Baked Goods, Savory, Ready Meals, Processed Meat and Others. Based on Type, the market is segmented into Natural Meat Flavor and Artificial Meat Flavor. Based on Flavor, the market is segmented into Beef, Chicken, Pork, Turkey, Fish & Seafood and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Egypt, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Meat-Based Flavors Market is Projected to reach USD 5 Billion by 2029, at a CAGR of 5.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Archer-Daniels-Midland Company, Sensient Technologies Corporation, Essentia Protein Solutions, DSM-Firmenich, Symrise AG, Givaudan SA, H.E. Stringer Flavours Limited, International Flavors & Fragrances Inc, Kerry Group plc, and Nikken Foods Co., Ltd.
By Application
By Type
By Flavor
By Country
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