Asia-Pacific Meat Extract Market, By Product (Beef Extract, Pork Extract, Chicken Extract, Fish Extract, Lamb Extract, Other Meat Extracts), Type (Stock, Extract), Form (Powder, Paste, Liquid), Function (Flavoring Agent, Preparation of Culture Media, and Others), Category (Conventional, Organic), Application (Food & Beverage, Pharmaceutical/Laboratory Research), Country (China, Australia, Japan, South Korea, Singapore, Malaysia, Indonesia, Philippines, India, Thailand, New Zealand, Vietnam, Rest of Asia-Pacific) Industry Trends and Forecast to 2029.
Market Analysis and Insights : Asia-Pacific Meat Extract Market
Asia-Pacific meat extract market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 5.6% in the forecast period of 2022 to 2029 and is expected to reach USD 8,695.38 million by 2029. Growing demand for protein-rich food products and beverages among consumers is expected to drive the Asia-Pacific meat extract market growth.
Meat extract contains the concentrated essence of meat. It is a rich form of meat stock obtained from animal sources such as beef, chicken, pork, seafood, and others. Meat extract is enriched with protein content and offers various health benefits such as boosting immune health, building and repairing healthy muscle, bones, skin and blood cells, and others. It is widely used for both industrial and commercial purposes. It acts as a flavoring agent for making processed food and beverages by improving the taste and flavor of the food. It is also used in biological research for culture media preparation and other purposes like industrial fermentation, analytical microbiology, and others.
Meat extracts are of two types, stock and extract, used as a flavoring agent, prepare culture media, and other purposes. The growing demand for the high nutritional value of meat extracts coupled with extensive use of meat extract in microbiology to grow culture media is anticipated to propel the growth of the Asia-Pacific meat extract market. However, stringent regulations laid by governmental bodies may hamper the market's growth.
Growing demand for protein-rich products is projected to create immense opportunities for meat extract manufacturers, whereas high competition among market players may challenge the market's growth.
The Asia-Pacific meat extract market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the Asia-Pacific meat extract market scenario, contact Data Bridge Market Research for an Analyst Brief; our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Meat Extract Market Scope and Market Size
The Asia-Pacific meat extract market is segmented based on product, type, form, function, category, and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the Asia-Pacific meat extract market is segmented into beef extract, pork extract, chicken extract, fish extract, lamb extract, and other meat extracts. In 2022, the beef extract segment is expected to dominate the Asia-Pacific meat extract market due to the increased consumption and production of beef and beef products.
- On the basis of type, the Asia-Pacific meat extract market is segmented into stock and extract. In 2022, the stock segment is expected to dominate the Asia-Pacific meat extract market due to the growing demand for stock in the food & beverages industry to enhance the flavor of processed products.
- On the basis of form, the Asia-Pacific meat extract market is segmented into powder, paste, and liquid. In 2022, the powder segment is expected to dominate the Asia-Pacific meat extract market due to the growing demand for easily soluble meat extract to prepare various dishes such as soups, sauces, noodles, and others.
- On the basis of function, the Asia-Pacific meat extract market is segmented into flavoring agent, preparation of culture media, and others. In 2022, the flavoring agent segment is expected to dominate the Asia-Pacific meat extract market due to the increasing demand for meat extract in the food & beverages industry to enhance the taste of products.
- On the basis of category, the Asia-Pacific meat extract market is segmented into organic and conventional. In 2022, the conventional segment is expected to dominate the Asia-Pacific meat extract market due to rising demand for conventional and low-priced meat extract products for functions, including preparation of culture media, flavoring agents, and others.
- On the basis of application, the Asia-Pacific meat extract market is segmented into food & beverage and pharmaceutical/laboratory research. In 2022, the food & beverage segment is expected to dominate the Asia-Pacific meat extract market due to surging demand for meat extract as a flavoring agent among food manufacturers, commercial consumers, and others.
Asia-Pacific Meat Extract Market Country Level Analysis
Asia-Pacific meat extract market is analyzed, and market size information is provided by the country, product, type, form, function, category, and application as referenced above.
Some of the countries covered in the Asia-Pacific meat extract market report are China, Australia, Japan, South Korea, Singapore, Malaysia, Indonesia, Philippines, India, Thailand, New Zealand, Vietnam, Rest of Asia-Pacific. China is expected to dominate the market due to the increased consumption of meat and meat products. Japan may dominate the market due to the surging demand for meat extract among food & beverages, cosmetic manufacturers, and others.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Growing Strategic Activities by Major Market Players to Boost the Market Growth of Asia-Pacific Meat Extract Market
Asia-Pacific meat extract market also provides you with a detailed market analysis for every country's growth in the particular market. Additionally, it provides detailed information regarding the market players’ strategy and geographical presence. The data is available for the historical period 2011 to 2020.
Competitive Landscape and Asia-Pacific Meat Extract Market Share Analysis
Asia-Pacific meat extract market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width, and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to the Asia-Pacific meat extract market.
Some of the major companies in the Asia-Pacific meat extract market are Kerry, PT. Foodex Indonesia, Maverick Biosciences, MP BIOMEDICALS, NH Foods Australia., Nikken Foods Co.,Ltd., Essentia Protein Solutions, HiMedia Laboratories., Thermo Fisher Scientific Inc., BD, NEOGEN Corporation, International Dehydrated Foods, Inc., ARIAKE JAPAN Co.,Ltd., Meioh Bussan Co., Ltd., among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many expansion and funding are also initiated by the companies worldwide, which also accelerates the Asia-Pacific meat extract market.
- In June 2021, according to Industry Dive, Kerry acquired Niacet, a clean-label, low-sodium preservatives specialist, for around USD one billion. This acquisition aims to use their preservation technologies for meat-based products and their drying and granulation process for meat, and other applications
- In June 2021, Essentia Protein Solutions launched a new product named Essentia C3307 Chicken Flavor to enhance the multi-species ProFlavor line. The new flavor is high in protein, low in carbs, and has no added salt
Product launches, business expansion, award and recognition, and other strategies by the market player are enhancing the company footprints in the Asia-Pacific meat extract market, which also benefits the organization’s profit growth.