Meat Flavor Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.48 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Meat Flavor Market Analysis
The global meat flavors market is projected to grow at a CAGR of 5.48% during the forecast period.
- Consumer interest toward more ethnic and exotic bold flavors has led to the creation and experimentation with flavors, which are currently being used in fusion or blends, thus boosting the growth of the market.
- Moreover, the increasing vegan population has emerged as one of the target consumerof the market. The varying regulatory guidelines across regions and countries are limiting the scope for manufacturers, to come up with innovations and new launches. Givaudan, International Flavors and Fragrances, Firmenich, and Symrise are some of the prominent companies in the market studied.
Meat Flavor Market Trends
This section covers the major market trends shaping the Meat Flavors Market according to our research experts:
Beef Flavor Dominates the Market
Beef flavor holds the maximum share in the meat flavor market registering a promising growth rate. With world consumption of beef at 129.5 billion pounds in 2016, the demand for beef flavors in RTE products has increased and is likely to grow in the forecasted period. Uruguay, Argentina, Hong Kong, United States, Brazil, Paraguay, Australia, Canada, Kazakhstan, and Chile were the top ten countries across the world, with per capita beef consumption of more than 50 pounds in 2016. Owing to religious sentiments, the consumption of beef is banned in some countries, therefore beef flavors are used in finished products instead of beef. Countries such as India, Nepal and Bhutan are some potential countries for beef flavor market.
Asia-Pacific Remains the Fastest Growing Region
Being one of the fastest growing economy, Asia-Pacific holds major potential for foodservice sector, augmenting the growth of associated markets including ingredients such as meat flavor market. Some companies in China, like Shanghai Shihao Flavor & Fragrance Co. Ltd, are involved in the preparation of every category of meat flavors, including pork, beef, chicken, and duck meat, featuring a strong and fresh flavor, a lasting aftertaste. Filipino flavors are getting popular and being preferred by consumers from countries, like Singapore, Thailand, and Malaysia, among others. This factor has led food manufacturers to consider a heavy infusion of flavors in the formulated product. This factor is driving the growth of meat flavor market in the region.
Meat Flavor Industry Overview
The global meat flavor market is highly concentrated and competitive. The industry is dominated by large multinationals. Flavor blends have become a standard practice in the flavor industry and are leading to the erosion of profit margins. Givadudan, IFF, and Firmenich are few key players active in the market. New product developments are also quite popular strategies adopted by players. Meat-based flavors in different concentrations and variations are manufactured to cater to the demand in applications, such as savory snacks and other processed food.
Meat Flavor Market Leaders
Firmenich SA
Kerry Group plc
Koninklijke DSM N.V.
International Flavors & Fragrances Inc.
Sensient Technologies Corporation
*Disclaimer: Major Players sorted in no particular order
Meat Flavor Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porters Five Force Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type
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5.1.1 Natural Meat Flavor
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5.1.2 Artificial Meat Flavor
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5.2 By Flavor Type
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5.2.1 Beef
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5.2.2 Chicken
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5.2.3 Pork
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5.2.4 Turkey
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5.2.5 Fish & Seafood
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5.2.6 Others
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5.3 By Application
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5.3.1 Soups & Sauces
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5.3.2 Instant Noodles
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5.3.3 Ready Meals
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5.3.4 Savories
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5.3.5 Baked Goods
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5.3.6 Others
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5.4 Geography
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5.4.1 North America
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5.4.1.1 United States
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5.4.1.2 Canada
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5.4.1.3 Mexico
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5.4.1.4 Rest of North America
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5.4.2 Europe
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5.4.2.1 Spain
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5.4.2.2 United Kingdom
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5.4.2.3 Germany
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5.4.2.4 France
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5.4.2.5 Italy
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5.4.2.6 Russia
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5.4.2.7 Rest of Europe
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5.4.3 Asia Pacific
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5.4.3.1 China
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5.4.3.2 Japan
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5.4.3.3 India
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5.4.3.4 Australia
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5.4.3.5 Rest of Asia-Pacific
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5.4.4 South America
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5.4.4.1 Brazil
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5.4.4.2 Argentina
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5.4.4.3 Rest of South America
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5.4.5 Middle East and Africa
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5.4.5.1 South Africa
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5.4.5.2 Saudi Arabia
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5.4.5.3 Rest of Middle East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Market Share Analysis
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6.2 Mergers & Acquisitions
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6.3 Company Profiles
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6.3.1 Firmenich SA
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6.3.2 Kerry Group plc
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6.3.3 Koninklijke DSM N.V.
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6.3.4 International Flavors & Fragrances Inc.
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6.3.5 Sensient Technologies Corporation
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6.3.6 Givaudan
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6.3.7 Symrise AG
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6.3.8 Innova Flavors
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Meat Flavor Industry Segmentation
Meat flavors market broadly includes natural and artificial meat flavor offering flavors such as beef, chicken, pork, turkey, fish & seafood and other types. The products offered are applicable in soups & sauces, instant noodles, ready meals, savories, baked goods and other industries
| By Type | |
| Natural Meat Flavor | |
| Artificial Meat Flavor |
| By Flavor Type | |
| Beef | |
| Chicken | |
| Pork | |
| Turkey | |
| Fish & Seafood | |
| Others |
| By Application | |
| Soups & Sauces | |
| Instant Noodles | |
| Ready Meals | |
| Savories | |
| Baked Goods | |
| Others |
| Geography | |||||||||
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Meat Flavor Market Research FAQs
What is the current Meat Flavors Market size?
The Meat Flavors Market is projected to register a CAGR of 5.48% during the forecast period (2024-2029)
Who are the key players in Meat Flavors Market?
Firmenich SA, Kerry Group plc, Koninklijke DSM N.V., International Flavors & Fragrances Inc. and Sensient Technologies Corporation are the major companies operating in the Meat Flavors Market.
Which is the fastest growing region in Meat Flavors Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Meat Flavors Market?
In 2024, the North America accounts for the largest market share in Meat Flavors Market.
What years does this Meat Flavors Market cover?
The report covers the Meat Flavors Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Meat Flavors Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Meat Flavor Industry Report
Statistics for the 2024 Meat Flavor market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Meat Flavor analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
