New York, Jan. 25, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Liquid Smoke Market By Application, By Type, By Distribution Channel, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06222252/?utm_source=GNW
It is a natural byproduct of burning wood. When a wood is burnt, it produces smoke, steam, and water vapour, which is condensed through coiled tubing to capture the smoke. This liquid is then processed & purified into a thick liquid to eliminate its impurities like ash and soot. Further, it can also be used to flavour meats and vegetables.
Liquid smoke is produced on commercial basis for the US and European meat sector and is also regulated by the governments of the respective countries. Another name for liquid smoke is wood vinegar and it is produced domestically in Indonesia, Malaysia, Japan, Brazil, Southeast Asia and China.
There are many companies like Wright’s liquid smoke, which are introducing new innovations in liquid smoke to maintain the interest of customers in using liquid smoke. In additions, there are many food joints and restaurants, which are using liquid smoke in their dishes to add a smoky flavor to it. There is a rise in the consumption of liquid smoke in the households of various developed nations due to the customer inclinations towards smoked food items.
COVID-19 Impact Analysis
The COVID-19 pandemic had a significant impact on the growth of the Liquid Smoke Market. Whilst the pandemic, lockdowns were announced that hindered the manufacturing industries. The restaurants were also not able to open their outlet, which leads to a loss in demand as well as revenue. As a consequence, production capacity took a hit and decreased which detrimentally impacted the development of the Liquid Smoke Market.
The sudden lockdowns, hoarding exercises and budget cuts have negatively impacted the consumption of Liquid Smoke since it was not in the priority for most households. Restaurants were shut down and many went out of business, which negatively impacted the demand for the condensate product. Cooking for comfort became a luxury when the world was trying to have balanced meals to boost their immunity. Liquid Smoke remained as a backburner for chefs and dilettantes, but other than that most of its consumers focused on more essential products, which caused a great dip in the consumption of liquid smoke.
Market Growth Factors
Cost Efficiency and Environment Friendly
The reduction in the cost of production that is caused by the increasing acceptance of liquid smoke equipment within leading players is estimated to provide lucrative opportunities to the liquid smoke market players. Since environmental conditions are constantly changing, the conventional form of barbeque for smoking is becoming less popular. By using liquid smoke, customers don’t need to set up barbeque in their garden, which reduces their overall cost.
Growing demand and introduction of new flavors in the market
Customers are getting familiar with liquid smoking products that are leading to the expansion of flavor palette in the food and beverage industry. Several food restaurants are widely using liquid smoke to prepare some unique drinks as well as food products. Furthermore, several manufacturers are highly investing in the research and development activities to make new flavors of liquid smoke that can attract more customers.
Market Restraining Factors
Health effects of using liquid smoke
Smoke in any form is a controversial ingredient since it contains various chemical compounds that can be very dangerous for the human health. Some studies suggested that liquid smoke contain cancer-causing chemicals, which is totally depend on the type of wood used in making the liquid as well as the condition of processing it. Several food safety organizations across different parts of the world are issuing guidelines to the liquid smoke manufacturers to label their products describing their composition.
Application Outlook
Based on application the market is divided into Meat, seafood, sauces, marinades, bakery/confectionery and others. The Meat segment acquired the maximum revenue share in 2020 and is estimated to witness a promising growth rate over the forecast period. The growth is a result of a surge in the population of non-vegetarian customers across the globe. Meat is one of the most consumed non-vegetarian items that go perfectly with liquid smoke.
Type Outlook
Based on type, the liquid smoke market is segmented into Hickory, Mesquite, Applewood and others. The Hickory segment dominated the liquid smoke market with the highest revenue share in 2020 and is estimated to display a promising growth rate over the forecast period. It is due to the versatility of Hickory as compared to other forms of liquid smoke as it can be used with fish, red meats and even vegetables.
Distribution Channel Outlook
Based on distribution channels, the market is fragmented into hypermarkets/supermarkets, convenience stores, e-commerce and others. The hypermarkets/supermarkets segment dominated the market with the highest market share in 2020 and is projected to showcase a substantial growth rate during the forecast timeframe. The blend of a grocery supermarket and department store results in what we call a Hypermarket.
Regional Outlook
By region, the market is analyzed across North America, Europe, Asia Pacific and LAMEA. Europe emerged as the leading region in the liquid smoke market with the largest revenue share in 2020. The most commonly food preparation process across different nations of the region is barbeque, the smoky flavor of different food products is always on the top of food list of the consumers. Due to this, the adoption of liquid smoke flavor would witness a rise over the forecast period.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Azelis Holdings S.A., B&G Foods, Inc., International Flavors & Fragrances, Inc., McCormick & Company, Inc., Kerry Group PLC, Colgin, Inc., MSK Ingredients Limited, PS Seasoning, and Baumer Foods, Inc.
Strategies deployed in Liquid Smoke Market
May-2021: Ps introduced new BBQ sauces to the line of gourmet grilling sauces and marinades. These sauces are inspired by regional and trending flavors including tangy Memphis, Door County Cherry, and Peach Whiskey. These new flavor profiles are developed to add up to the prevailing line of BBQ rubs, seasoning, and sauces.
Mar-2021: PS Seasoning unveiled New Gourmet Seasonings for Spring. This new line of pre-mixed seasoning blends consists of Bacon Bomb Jalapeño Hickory, Eloté Loco Street Corn Blend, The Tailgater Ballpark Burger, and Citrus Smash Lemon Pepper Grinder.
Feb-2021: Kerry took over Jining Nature Group, a leading manufacturer of savory flavors and seasonings in China. The acquisition would support Kerry’s global savory taste strategy and, strengthen its position in the savory taste marketplace within China.
Feb-2021: Azelis expanded its geographical footprint by opening a new smoke production facility in Denmark. The plant’s design is based on Azelis’s proprietary technology and the main operations of distillation & extraction are wholly automatic. In addition, Azelis smoke facility is one of the few facilities in the world that produce highly concentrated smoke flavors.
Dec-2020: McCormick & Company took over FONA International, a flavor company. This acquisition aimed to strengthen McCormick’s global growth objective since FONA would expand its flavor solutions segment with attractive categories, extend the technology platform, and also strengthen the capabilities of the company.
Mar-2020: Evolva signed an agreement with International Flavors & Fragrances. Following the agreement, IFF would expand the commercialization of its products and develop vanillin.
Dec-2019: Kerry Group took over the Renfrew-based Rapid Thermal Pyrolysis (RTP) facility from Ensyn Technologies. This facility would utilize the RTP technology to convert biomass into a liquid smoke product. In addition, this acquisition would support the company’s capacity requirements and expansion strategy in the smoke and taste market.
Scope of the Study
Market Segments covered in the Report:
By Application
• Meat
• Sauces/ marinades
• Seafood
• Bakery/ Confectionery
• Other Application
By Type
• Hickory
• Applewood
• Mesquite and
• Other Types
By Distribution Channel
• Hypermarkets/ Supermarkets
• Convenience Stores
• E-commerce and
• Other Distribution Channel
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Azelis Holdings S.A.
• B&G Foods, Inc.
• International Flavors & Fragrances, Inc.
• McCormick & Company, Inc.
• Kerry Group PLC
• Colgin, Inc.
• MSK Ingredients Limited
• PS Seasoning
• Baumer Foods, Inc.
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06222252/?utm_source=GNW
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