Liquid Smoke Market Size to Worth Around US$ 228.6 Mn by 2031 | Azelis, Besmoke, FRUTAROM Savory Solutions GmbH

Market Overview:

Global liquid smoke market was valued at US$ 108.6 Mn in 2022, exhibiting a CAGR of 9.7% in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 228.6 Mn by 2030.

Market Dynamics:

The liquid smoke market is expected to witness significant growth over the forecast period owing to the rising demand for plant-based meat alternatives. Plant-based meat alternatives are gaining traction among health-conscious consumers as they are cholesterol-free and contain micronutrients. Liquid smoke is used to give plant-based meat substitutes an authentic smoky flavor similar to their animal-derived counterparts. Additionally, liquid smoke has a long shelf life as compared to other smoking methods and does not require expensive smoking equipment, which is expected to boost its adoption among food processors and manufacturers over the forecast period. The growing vegan population around the world further supports the demand for plant-based meat alternatives processed using liquid smoke.

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Market driver: Increasing demand for meat and poultry products globally is fueling growth in the liquid smoke market

The demand for meat and poultry has been increasing significantly across the globe with rising income levels and changing dietary preferences. According to statistics, global meat consumption rose from 83.1 million tons in 2000 to 341 million tons in 2018. Liquid smoke is widely used for flavoring and preservation of meat and poultry products. It helps improve the taste and extend the shelf life of these products. The growth in meat and poultry consumption thus directly drives the demand for liquid smoke from the food processing industry.

Market opportunity: Increasing popularity of plant-based meat and meat analogs opens new growth avenues

With growing health and environment consciousness, plant-based meat and meat analogs have gained immense popularity in recent years. Many startups are innovating and launching variety of vegetarian burgers, sausages, nuggets etc that mimic real meat. Liquid smoke is an important ingredient that helps lend a smoky aroma and taste to these meat analog products, making them more similar sensory-wise to conventionally produced meats. This presents significant opportunities for liquid smoke producers to partner with companies involved in the booming plant-based meat business.

Market trend: Rising demand for natural smoke flavors with cleaner labels drives need for sustainable liquid smoke production

Consumers are gaining awareness about product ingredients and are preferring more natural and clean label products. They wish to see simpler and more recognizable ingredients on food packages. This has driven demand for liquid smoke extracts that use natural wood varieties in sustainable production processes and have fewer additives. Producers are investing in renewable energy sources and advanced extraction technologies to produce clean liquid smoke extracts from wood using minimal processing. The trend towards natural flavors with transparent labels is set to drive innovation and growth in the liquid smoke market over the long run.

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Top Companies Featured in This Report:

★ Azelis
★ Besmoke
★ FRUTAROM Savory Solutions GmbH
★ Red Arrow International LLC
★ Redbrook Ingredient Services Ltd
★ MSK Specialist Ingredients
★ Kerry Inc.
★ Ruitenberg Ingredients
★ B&G Foods Inc. (Wrights)
★ Baumer Foods Inc.

Market Segmentation:

By Applications:

★ By Application: (Meat and Seafood, Sauces, Pet Food and Treats, Dairy, Others)

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Trends in Navigation Keyword Market:

Market Growth: Expect significant expansion in the navigation keyword market, with a projected Compound Annual Growth Rate (CAGR) of 14.65% from 2024 to 2031.

Increasing Demand: Notice a surge in demand for navigation keywords due to the widespread adoption of GPS-enabled devices and the need for precise mapping data.

Technological Innovations: Witness innovative breakthroughs enhancing the accuracy and reliability of navigation keywords, such as real-time traffic updates, 3D mapping, and augmented reality.

Tailored Solutions: Explore industry-specific navigation keyword solutions designed to meet the unique needs of automotive, aviation, and maritime sectors.

Integration with Advanced Technologies: Embrace the integration of navigation keywords with cutting-edge technologies like artificial intelligence and the Internet of Things, unlocking advanced functionalities.

Mobile Applications: Embrace the convenience and accessibility of navigation keywords through mobile applications, catering to the evolving needs of consumers.

Environmental Sustainability: Embrace environmentally conscious navigation keyword solutions that address issues like traffic congestion and air quality, promoting sustainable transportation options.

Report Highlights:

📈 Examination of navigation keyword market share at both country and regional levels

📈 Thorough analysis of the competitive landscape and emerging trends

📈 Detailed review of product advancements, technological developments, drivers, and limitations

📈 Strategic recommendations tailored for key business segments based on market insights

📈 Valuable guidance for newcomers venturing into the navigation keyword market

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Author Bio:

Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

(LinkedIn: https://www.linkedin.com/in/alice-mutum-3b247b137 )

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