Specialty Meat Ingredients Market
Specialty Meat Ingredients Market By Ingredient Type (Fiber & Protein, Starch & Derivative, Acidulant), By Function (Moisture Control, Yield Improvement, Coloring & Flavoring, Preservation), By End Use Application, By Region - Global Insights 2021-2031
Market Outlook for Specialty Meat Ingredients
Newly released data from Fact.MR shows that global demand of the overall specialty meat ingredients is slated to reach a value of US$ 5.2 Bn, projected to increase 1.6x by 2031. The market is experiencing significant growth in demand for vegan and processed meat products.
It is expected that the market will grow further as various firms invest in creating new meat products and brands. Consistent attention is paid to the development and distribution of healthy meat products, enhancing the market's acceptance of healthy specialty meat ingredients.
Key Points Addressed in Specialty Meat Ingredients Industry Analysis
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Specialty Meat Ingredients and How to Navigate
- Recommendation on Key Winning Strategies
Consumption Analysis of Specialty Meat Ingredients from 2016-2020 vs Future forecast for 2021-2031
According to Fact.MR- market research and competitive intelligence provider, between 2016 and 2020, specialty meat ingredients consumption expanded at a CAGR below 5% to reach US$ 3.2 Bn.
Processed meat is currently in greater demand due to the advent of different flavors, nutrients, and textures in various regions. There is an increase in demand for plant-based and cultured meat in the marketplace, attributed to a paradigm shift towards consuming plant-based meat products.
Taking into account the aforementioned factors, it is expected that the global market for specialty meat ingredients is anticipated to grow at a CAGR of 5% from 2021-2031, reaching a projected value of US$ 5.2 Bn.
How is a Paradigm Shift Towards Plant-Based Food Consumption Heightening Prospects?
Amidst rising health and wellness, animal welfare and environmental concerns, people are curtailing animal products consumption from their diets. Therefore, demand for milk and meat substitutes has grown rapidly. Specialty meat products are richer in protein and low in fat or calories.
Likewise, demand for vegan and organic foods is spurring demand for plant-based meat in the market. Growing concerns regarding animal slaughter, as well as no-kill policies being adopted by both NGOs and consumers, are spurring more reliance on plant-based and lab-derived meat ingredients.
How is R&D on Specialty Meat Ingredients Influencing Market Demand?
Over the years, local businesses have developed technologies such as cultivated meats, insect-based ingredients, yeast engineering, fermented foods, as well as other innovations.
Nestlé Research in Lausanne is currently collaborating with Future Meat Technologies, a start-up that develops cultured meat components to explore the possibility of using them as meat components without degrading the quality or sustainability of the products.
A proprietary technology developed by Future Meat Technologies uses animal cells to create non-GMO cultured meat, reducing the need to raise animals and the associated greenhouse gas emissions.
The company has invested heavily in developing proprietary technologies and protein expertise to expand its wide range of tasty and nutritious products with a lower impact on the environment. In addition to these efforts, the firm is exploring technologies that would enable them to create vegan alternatives with similar taste, flavor, and texture to meat.
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How is Rising Vegan Meat Demand Spurring Sales in the U.S?
U.S. consumers are increasingly eating plant-based foods. By 2020, plant-based food sales grew two times faster than overall food sales. Many of the world's largest meat producers as well as startups and leading CPG companies are innovating rapidly in the plant-based market.
Increasing numbers of mainstream consumers are developing a preference for plant-based options to a growing distribution network. 97% of consumers who purchase plant-based meat also purchase conventional meat. According to Fact.MR, the U.S market is poised to account for over 1/3rd of global revenue.
Why is Specialty Meat Ingredients Uptake Increasing across Asia?
Consumer tastes and preferences in Asia are extremely diverse, ranging from rural to urban areas, from youth to seniors, from high-income to low-income groups as well as cultures and traditions associated with food.
Asia-Pacific's rapidly evolving food industry has been rejuvenated with plant-based launches, which have been introducing innovative new versions of traditional food staples. Sustainable food producers can tap into a new growth market by catering to Asia's growing appetite for alternative proteins.
Traditionally used outlets for retail food, such as wet markets, are changing to malls and online outlets. It is a particular concern in urban areas of China, the Philippines, and Vietnam. Considering these factors, sales of specialty meat ingredients is expected to surge at a CAGR of 4.5%.
Why are Fiber and Protein Specialty Meat Ingredients Gaining Popularity?
Changing lifestyles and eating habits have profoundly affected the lives of consumers. Consumers are becoming more dependent on fast foods which contain a small proportion of fiber. Functional ingredients in meat products, such as fiber, have a tremendous impact on our health.
Fiber and protein have become increasingly important as concerns about the keto diet grow. A daily diet rich in fiber is said to prevent a wide variety of unhealthy problems such as heart disease, digestive problems, cancer, type 2 diabetes, and obesity. Due to this, the market is experiencing a surge in demand for fiber-rich and protein-rich specialty meat ingredients, growing at around 4% CAGR.
Why is Meat Preservation Gaining Traction?
Preserving meat helps to prevent spoilage by inhibiting microbial growth, slowing enzyme activity, and preventing fatty acids from oxidizing, which causes rancidity. A market share of around 30% is projected for this segment.
The shelf life of meat products is affected by a variety of factors, including safety and quality requirements. Factors such as cold storage, freezing, thawing, vacuum packaging, canning, drying, and fermentation are best while preserving the meat for the long run.
An Adaptive Approach to Modern-day Research Needs
Mergers and acquisitions, partnerships, and the development of new products are just some of the strategies used by market players to stay competitive and expand their market footprints in the industry. Market leaders focus on growing their customer base to increase their market share.
- For instance, Nestle examines the potential of cultured meat. Rather than simply analyzing scientific trends, Nestle investigated emerging technologies and reviewed scientific trends to evaluate the potential of meat alternatives in the future.
- Next Meats Co., a Tokyo-based venture that develops alternative meats, plans to open an environmentally friendly factory next year. It includes everything from an R&D lab to a production line. It will serve as a one-stop-shop for protein alternatives in Japan.
Historical Data Available for
|US$ Mn for Value & ‘000 Units for Volume|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
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Key Segments Covered
- Fiber & Protein Specialty Meat Ingredients
- Starch & Derivative Specialty Meat Ingredients
- Acidulant Specialty Meat Ingredients
- Hydrocolloid Specialty Meat Ingredients
- Other Specialty Meat Ingredients
- Specialty Meat Ingredients for Moisture Control
- Specialty Meat Ingredients for Yield Improvement
- Specialty Meat Ingredients for Coloring & Flavoring
- Specialty Meat Ingredients for Preservation
- Specialty Meat Ingredients for Fillers & Extenders
End Use Application
- Specialty Meat Ingredients for Bakery & Confectionery
- Specialty Meat Ingredients for Snacks
- Specialty Meat Ingredients for Frozen Desserts
- Specialty Meat Ingredients for Blends, Dressings & Dips
- Specialty Meat Ingredients for Soups & Sauces
- Specialty Meat Ingredients for Meat & Seafood
- FAQs -
According to industry estimates, specialty meat ingredients represent a market size of US$ 5.2 Bn by 2031
From 2016 to 2020, specialty meat ingredients sales expanded at under 5% CAGR
As of 2020, the market for specialty meat ingredients was valued at US$ 3.2 Bn
Cargill, ADM, DuPont and Ingredion are some prominent specialty meat manufacturers
Increasing popularity of plant-based foods, including vegan meat, is spurring demand for specialty meat ingredients
According to Fact.MR, sales of specialty meat ingredients across the U.S are expected to account for 33% of the global demand
Asia is likely to emerge as the fastest growing market, registering a CAGR of 4.5% until 2031
Demand for fiber and protein specialty meat ingredients is likely to surge at around 4% CAGR
Specialty meat ingredients for preservation of food items are likely to account for 30% of overall demand
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