Emphasis on Processed Meat to Drive Worldwide Demand for Specialty Meat Ingredients
The global specialty meat ingredients market is estimated to grow at a CAGR of over 5% during the forecast period (2019-2027) to reach a value pool of over US$5.2Bn. Specialty meat ingredients continue to create significant opportunities within the food & beverages sector on the backdrop of growing demand for processed meat from various industries.
Competitors across the globe are now investing heavily in acquiring and creating new specialty meat ingredient products and brands that are expected to cater to the rising demand of specialty meat ingredients.
Emerging nations, such as China and India, are expected to contribute heavily to the growth of the global processed specialty meat ingredients market due to proliferating meat processing industry.
This is resulting in renewed focus on providing superior quality and multifunctional specialty meat ingredients using advanced technologies from key non-meat ingredients manufacturers.
Moreover, with value oriented consumers being on the rise, sustainability call-outs on meat products is leading to more nuanced growth for the specialty meat ingredients market.
Meat & Seafood Dominate the Specialty Meat Ingredients End Use Sector
With consumers in developing markets regularly introducing more meat related products into their diets, the meat and seafood industries is experienced steady growth.
The meat and seafood segment accounts for more than one-third share in the global specialty meat ingredients market. The global meat and seafood industries are witnessing steady gains by growing in potential areas which previously had no regular meat access.
Meat and poultry exports in the U.S. went up by 3.4% from 2017-2018. This development helped in the further development of specialty meat ingredient production in U.S. Improvements in qualitative standardization of the characteristics of the meat and seafood products such as texture, structure and quality are important aspects of meat, poultry and fish products.
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Demand in APAC Soars with Diversifying Food Applications
The specialty meat ingredients market in APAC will be the most lucrative and is expected to grow at a CAGR of 4.5%. This growth is mainly due to a large number of food processing and storage industries, especially in developing countries like India, Japan, China and a few other Asian countries.
APAC is the most diverse food region, making it a popular market with international food service operators, especially the beef, poultry and seafood industries, for future expansion. Variants of chicken and mutton are common in Indian processed meat products.
Value-added poultry is most popular with breaded chicken snacks, followed by sausages and kebabs. Different flavors are used in traditional Asia-Pacific meat products. A rise in demand for ready-made meals is being witnessed for consumers in Asia, as consumers are more 'time poor' and need greater convenience in their meal preparation.
Competitors Expanding Sales & Distribution Network to Capture Higher Market Share
The market for specialty meat ingredients is moderately fragmented with a few players including Corbion N.V., Naturex, Kerry Group, E.I. Du Pont de Nemours holding the most significant share. Competition in the market for specialty meat ingredients is expected to increase more intensively in the years ahead.
The market for specialty meat ingredients is reasonably capital-intensive and therefore the entry barrier is also medium. However, with the current market growth, it is less likely that a number of new entrants will flock to the specialty meat ingredients market.
Organic growth and product development approaches being implemented by specialty meat ingredient manufacturers to expand sales & distribution network and enhance their operational efficiencies are expected to continue.
New opportunities for growth is expected to arise across the market value chain for specialty meat ingredients, with both manufacturers and distributors focused on responding to changing consumer preferences.
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Global Specialty Meat Ingredients Market: In-Depth Assessment on Key Segments
The global specialty meat ingredients market is segmented on the basis of ingredient type, function, end-use application, and region.
- Fiber & Proteins
- Starch & Derivatives
- Moisture Control
- Yield Improvement
- Coloring & Flavoring
- Fillers & Extenders
- Bakery & Confectionery
- Frozen Desserts
- Blends, Dressings, & Dips
- Soups & Sauces
- Meat & Seafood
- North America
- Latin America
- South Asia
- East Asia
This taxonomy and the detailed ToC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.
Global Specialty Meat Ingredients Market - Scope Of The Report
The following report provides forecast and analysis of the global specialty meat ingredients market along with the historical data of 2013, estimated data 2019 and forecast data up to 2027 in terms of revenue (US$ Mn), according to a Fact.MR study.
The research propounds critical trends that are currently influencing growth within the global specialty meat ingredients market along with several macro-economic indicators. This newly published and insightful report on specialty meat ingredients sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global specialty meat ingredients market.
The report also comprises the study of current issues with end users and opportunities for specialty meat ingredients. It also contains value chain analysis, including the key market participants. To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews.
The dashboard included in the report provides a detailed comparison of specialty meat ingredients manufacturers on parameters such as total revenue, product offerings, and key strategies. A list of key companies operating in the specialty meat ingredients market provided in the report adds to the credibility of this exhaustive research study.
Country-specific assessment on demand for specialty meat ingredients has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous Specialty meat ingredients manufacturers, experts, and suppliers. Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
Global Specialty Meat Ingredients Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications. Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research.
The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the specialty meat ingredients market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the specialty meat ingredients market, which includes global GDP growth rate, various industries growth rate, such as food processing, bakery & confectionary and others.
This report serves as an authentic resource of intelligence on the specialty meat ingredients market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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