Smoke Ingredients Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.19 % |
| Fastest Growing Market | Middle East and Africa |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Smoke Ingredients Market Analysis
The smoke ingredients market is projected to register a CAGR of 5.19% during the forecast period.
- Smoked foods have been a crowd-pleaser for centuries, as consumers discovered that smoked foods had a more authentic flavor than non-smoked foods. Cooking over fire has become a part of many cuisines and has permeated many cultures across continents.
- Demand for smoke ingredients arises from the food processing industry to impart an exotic smoky flavor into food without burning outside which also helps in preserving the food items, lowers the rate of food poisoning, and improves food color and texture. Smoke ingredients are gaining traction among vegetarian consumers as they are utilized to impart the flavor of smoked meat. These qualities are causing a surge in demand for smoke components in food, and throughout the forecast period, this demand is expected to propel market growth.
- As an alternative to traditional smoking, smoke flavorings are added to foods such as meat or cheese to give them a 'smoked' flavor. They can also be added to non-traditionally smoked foods such as soups, sauces, and confectionery. Smoke flavorings are sometimes used at very low levels to add an undertone to a specific flavor rather than the full smoky taste. The growing interest of consumers in ethenic foods due to the taste of these foods is attracting per capita spending toward the market.
- Players in the market are heavily investing in product innovation and developing/offering products with natural positioning owing to the consumer's inclination towards Natural and Organic food products.
Smoke Ingredients Market Trends
Increasing Demand for Smoked Food
With changing lifestyles, consumer preferences are also changing. Consumers are favoring healthier food rather than greasy and oily foods, and many consumers are opting for traditional methods of cooking as well, such as grill, roasting, etc., as they believe that the traditional method of cooking is healthy and imparts a rich smoke aroma and woody flavor to the final products. Consumers increasingly use smoke ingredients owing to the majority of them can relate to the taste of backyard cooking and barbecuing concepts. For instance, in 2020, Essentia Protein Solutions launched an all-natural smoked flavor ingredient made from hams from Southwestern Germany. The product is a smoke ingredient in powder foam, which will add a distinct smoky taste of ham to the final products. The strategy behind the launch of the new product is business expansion by offering consumers a new product. The company is also enlarging its product portfolio.
Due to their busy lifestyles, consumers cannot afford the time to prepare food using the traditional method of cooking. Hence, the demand for smoke ingredients is rising rapidly because of the convenience of using these products. For example, the smoke powder is generally used as a dry rub on pulled pork, ribs, chicken, and other meat products. Many consumers are also combining these smoke powders with cider and vinegar to produce barbeque sauces. Thus, consumers' rising preference for having a smoky aroma in their foods is a major factor driving the market.
Additionally, restaurants and culinary businesses are becoming more focused on enhancing their customer experience. Several facilities have started using smoke components in specialty foods as a result of this requirement. Moreover, dishes are prepared with smokey substances to enhance their distinctive and sapid flavor. As a result, it is anticipated that the overall profit in the market for smoke ingredients in the food sector might help surge. Hot beverages and aromatized meals are significant demand stimulators in the global market.
Asia-Pacific is the Largest Market
Asia-Pacific is the fastest-growing market. The large population present in this region and the growth of chain restaurants play a vital role as they offer a large variety of cuisines from different countries to the consumers of this region. Moreover, consumers prefer a healthier lifestyle and opt for healthy food options where smoked foods play a significant role in delivering the customer's expectations. Since they are nutritious enough and contain rich proteins with a natural woody aroma. For example, consumers in China majorly prefer "suanmeitang," a drink that is made up of Chinese plumps. Smoked foods are low in fats, which is one more reason that consumers are shifting to smoked food products.
Additionally, smoke ingredients are used as food additives in many quick-service restaurants; for example, liquid nitrogen is one such food additive that is brushed over meat and meat recipes to provide a suitable delicacy to the final product. The changing preferences of consumers toward authentic foods and the natural woody taste offered by smoke ingredients are the major factors driving the market significantly.
Moreover, The smoke flavor elevates foods to a whole new level. The incorporation of smoky flavor into African cuisine has been well-received on the African continent as well. Smoking is a traditional way of preserving food products in Africa due to the bubbly smoke and grilled culture. This preservation technique extends the shelf life of food while imparting a distinct flavor and aroma which also shaping the product in the region.
Smoke Ingredients Industry Overview
The market studied is competitive in nature due to the presence of domestic and international players. Some of the major payers in this industry are Kerry Group, International Fragrances and Flavors ( IFF), Besmoke Ltd, Azelis Company, and Essentia Protein Solutions. Key players are majorly focusing on product developments and product innovations to meet the consumers' needs by offering a variety of tastes and the products' quality to maintain premiumization. Some of the major players use mergers and acquisitions as their key strategy, as this will enable them to sustain a dominant position and will be beneficial in business expansion. For instance, In April 2021, Azelis India acquired Spectrum Chemicals and Nortons Exim. These acquired companies are specialized in chemical production and have strong distribution channels. The strategy behind the acquisition is to innovate new products using the expertise given by Spectrum Chemicals and Nortons Exim, and eventually, the company will expand its distribution channel, which will be beneficial for it as it can reach a large number of consumers.
Smoke Ingredients Market Leaders
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Besmoke Ltd
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Kerry Group
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Azelis Holdings
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International Flavors & Fragrances, Inc.
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Essentia Protein Solutions
*Disclaimer: Major Players sorted in no particular order
Smoke Ingredients Market News
- In January 2023, Azelis Holdings acquired Smoky Light B.V., an ingredients distributor in the BENELUX region. For the food and nutrition industries, Smoky Light B.V. provides smoke, grill, cooking flavors, browning agents, and additives. With this acquisition, Azelis aims to increase its market share in the Benelux region as well as throughout Europe, the Middle East, and Africa for smoke ingredients.
- In August 2021, TMI Foods, a Dawn Farms company and United Kingdom supplier of fully-cooked bacon and Pigs In Blankets, signed an agreement with smoke and grill flavor supplier Besmoke Ltd to infuse natural, clean smoked flavor solution into its products. The new Puresmoke technology will be integrated into the curing and cooking processes at TMI Foods' facility in Northampton, United Kingdom, to deliver authentic and clean wood smoke flavors. "PureTech is a revolutionary new microfiltration technology designed specifically to remove the most harmful elements of smoke, namely Polycyclic Aromatic Hydrocarbons (PAH's) such as Benzo(a)Pyrene.
- In February 2021, International Flavors & Fragrances Inc. had a merger with Dupont's Nutrition and Biosciences, one of the leading global ingredients solution companies in the world. According to the company, the strategy behind the merger was to expand the company's product portfolio by innovating several new, creative solutions that will act as food additives. The company is even expanding the business by offering consumers several innovative products and by meeting their changing preferences.
Smoke Ingredients Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Foam
5.1.1 Liquid
5.1.2 Powder
5.1.3 Other Foams
5.2 Application
5.2.1 Dairy
5.2.2 Bakery and Confectionery
5.2.3 Meat and Seafood
5.2.4 Snacks and Sauces
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 Italy
5.3.2.6 Spain
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 India
5.3.3.2 China
5.3.3.3 Japan
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 South Africa
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Strategies Adopted by Leading Players
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Kerry Group
6.3.2 Besmoke Ltd
6.3.3 Azelis Holdings
6.3.4 International Flavors & Fragrances Inc.
6.3.5 Essentia Protein Solutions
6.3.6 Stringer Flavours Ltd
6.3.7 B&G Foods
6.3.8 MSK Ingredients Ltd
6.3.9 FlavourStream SRL
6.3.10 Henning Gesellschaft für Nahrungsmitteltechnik mbH
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Smoke Ingredients Industry Segmentation
Smoke ingredients are food elements added to foods to flavor meat or vegetables. They are generally made by condensing the smoke from wood without any food additives. The smoke ingredients market is segmented by foam, application, and geography. Based on foam the market is segmented into liquid, powder, and other foams. On the basis of application market is segmented into dairy, bakery and confectionery, meat and seafood, and snacks and sauces. Further, the market is segmented by geography into North America, Europe, Asia-Pacific, South America, Middle East and Africa. For each segment, the market sizing and forecasts have been done on the basis of the value (in USD million).
| Foam | |
| Liquid | |
| Powder | |
| Other Foams |
| Application | |
| Dairy | |
| Bakery and Confectionery | |
| Meat and Seafood | |
| Snacks and Sauces |
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Smoke Ingredients Market Research FAQs
What is the current Smoke Ingredients Market size?
The Smoke Ingredients Market is projected to register a CAGR of 5.19% during the forecast period (2024-2029)
Who are the key players in Smoke Ingredients Market?
Besmoke Ltd, Kerry Group, Azelis Holdings , International Flavors & Fragrances, Inc. and Essentia Protein Solutions are the major companies operating in the Smoke Ingredients Market.
Which is the fastest growing region in Smoke Ingredients Market?
Middle East and Africa is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Smoke Ingredients Market?
In 2024, the North America accounts for the largest market share in Smoke Ingredients Market.
What years does this Smoke Ingredients Market cover?
The report covers the Smoke Ingredients Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Smoke Ingredients Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Smoke Ingredients Industry Report
The Smoke Ingredients Market is segmented by foam types including liquid, powder, and other foams, and by application areas such as dairy, bakery and confectionery, meat and seafood, and snacks and sauces. Additionally, the market is analyzed by geographic regions including North America, Europe, Asia-Pacific, South America, and the Middle-East and Africa. The report provides a comprehensive market overview, highlighting key market trends and industry statistics.
Key insights from the industry research indicate significant market growth driven by diverse applications of smoke ingredients. The market segmentation reveals various opportunities across different regions and application areas. The market forecast suggests a positive industry outlook with substantial market value anticipated in the coming years.
Industry reports and market data underscore the importance of understanding market leaders and their strategies. The industry analysis and market review provide a detailed examination of market dynamics, including market predictions and market segmentation.
The report also includes a sample of industry reports available as a report PDF, offering a glimpse into the comprehensive market research conducted. The industry information and market forecast are crucial for stakeholders looking to understand the market size and industry trends.
Overall, the market outlook is promising, with the industry size and growth rate reflecting a robust market environment. The report example provided in the industry overview highlights the depth of analysis and market insights available.
