The Latin America, Middle East and Africa Meat Extract Market would witness market growth of 7.2% CAGR during the forecast period (2021-2027). The culinary name for meat extracted from bovine animals is called beef. Moreover, beef is considered to be the second-largest consumed meat followed by chicken. The demand for beef extracts is rising as there is a massive demand for fresh meat without equal supply resulted from political and environmental aspects. Other determinants supporting the consumption of beef extracts are food security problems including pathogen identification and chemical residues in other meats, like poultry and pork.
Meat extract pastes are obtained from fish, pork, chicken, mutton, and beef are extensively utilized in the production of baked & buffed goods, instant noodles, gravies, bouillons & bouillon cubes, canned meat products, pot pies, casseroles, sauces, soups, and stews. The meat extracts-based pasts provide an aroma and improve the flavors of the food items. Growing consumer inclinations for healthy food items that are made utilizing natural additives or flavorings will augment the growth of the segment. Companies like Nikken Foods Co. Ltd., Carnad A/S, and BRF, aim to increase R&D initiatives on various formulations of meat extracts that address the concerns of consumers.
The Powder market dominated the Saudi Arabia Meat Extract Market by Form in 2020, thereby, achieving a market value of $146.2 million by 2027. The Paste market is experiencing a CAGR of 6.4% during (2021 - 2027). Additionally, The Liquid market is expected to witness highest CAGR of 8.5% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Meat Extract Market is Predict to reach $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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