Pune India, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the smoke ingredients for food market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the smoke ingredients for the food market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the type, application and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global smoke ingredients for food market are Associated British Foods Plc., Dempsey Corporation, Besmoke, MSK, Azelis, FRUTAROM Savory Solutions GmbH, Kerry Ingredients, Redbrook Ingredients Services, B&G Foods, Red Arrow, WIBERG GmbH, Rabar Pty Ltd, ADM, UNIFERM GmbH & Co. K.G., Alltech among others. To achieve a substantial market share in the worldwide smoke ingredients for the food market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
A smoky flavour is produced by adding smoke ingredients to food. Foods may be grilled or roasted with these ingredients. Food manufacturers are opting for smoke ingredients because of their ease of utilization and handling features because they provide an exotic smoky flavour to the foods without burning the outer cover. The lifestyle of consumers is changing, and as such, their preferences are changing as well. Increasingly, consumers prefer healthier foods over greasy and oily ones, and many prefer traditional cooking methods too, such as roasting, grilling etc., because they believe it is healthy and imparts a rich smoke aroma and woody flavour to their final products. Over the forecast period, the global liquid smoke market is projected to experience abundant growth opportunities because of the growing inclination to consumer-packaged goods and high-quality foods. Additionally, the food and beverage industry is predicted to grow during the forecast period due to advances in packaging innovation and the availability of different flavours. The market is witnessing immense growth in terms of revenue and sales but there are some factors which are hampering the market growth such as health risks associated with the chemicals used to develop smoke ingredients and the presence of counterfeits in the market.
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Scope of Smoke Ingredients for Food Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Million |
| Segments Covered | Type, Application, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Associated British Foods Plc., Dempsey Corporation, Besmoke, MSK, Azelis, FRUTAROM Savory Solutions GmbH, Kerry Ingredients, Redbrook Ingredients Services, B&G Foods, Red Arrow, WIBERG GmbH, Rabar Pty Ltd, ADM, UNIFERM GmbH & Co. K.G., Alltech among others |
Segmentation Analysis
Liquids are expected to be the fastest-growing segment in 2022.
The type segment includes oil, liquid, powder and others. The liquid segment is expected to witness the highest growth rate during the forecast period. As a result of characteristics such as high solubility in water and ease of handling, the liquid ingredient segment is predicted to continue to hold the highest share during the forecast period. In addition to their solubility in water, liquid ingredients are most popular among consumers. Liquid smoke ingredients are also used to cover up undesirable odours and flavours.
Meat & seafood is expected to be the fastest-growing segment in 2022.
The application segment includes pet food, bakery & confectionary, meat & seafood, dairy products, snacks & sauces and others. Meat & seafood is expected to witness the highest growth rate during the forecast period. A significant share of the market is accounted for by meats and seafood, and this trend is expected to continue in the forecast period. An increase in consumption of meat and seafood products, as well as changes in food habits, are key factors that are contributing to this segment's growth. Smoke flavours also enhance the flavour and aroma of sausage, jerky, and other forms of cured meats, as well as shrimp, smoked fish and other seafood products.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the smoke ingredients for the food market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. There is an increase in consumption of ready-to-eat food products in North America, and due to increased consumer adoption, disposable income in this region and higher demand for processed food in countries in this region, North America holds the largest share of the smoke ingredients market.
Country Analysis
- Germany
Germany's smoke ingredients for food market size were valued at USD 53.8 million in 2022 and are expected to reach USD 83.19 million by 2030, at a CAGR of 5.6% from 2023 to 2030.
As a result of the growing preference for smoky-flavoured foods in Germany, the market will continue to grow if commercial organizations demand smoke ingredients for food. Similar to the US, the market growth in Germany will rely on commercial organizations.
- China
China’s smoke ingredients for food market size were valued at USD 54.16 million in 2022 and are expected to reach USD 85.6 million by 2030, at a CAGR of 5.9% from 2023 to 2030.
Major key players in the country are focusing on improving the quality of the existing ingredients boosting the growth of the market the country.
- India
India's smoke ingredients for food market size were valued at USD 41.6 million in 2022 and are expected to reach USD 65.30 million by 2030, at a CAGR of 5.8% from 2023 to 2030.
Market growth is driven by technological advancements in the food processing industry and increasing consumption of products with smoked flavours.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising demand for smoke-flavoured food among consumers, propelling the growth of the market across the countries.
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