Meat Ingredients Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 9.09 Billion |
| Market Size (2029) | USD 11.75 Billion |
| CAGR (2024 - 2029) | 5.25 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Meat Ingredients Market Analysis
The Meat Ingredients Market size is estimated at USD 9.09 billion in 2024, and is expected to reach USD 11.75 billion by 2029, growing at a CAGR of 5.25% during the forecast period (2024-2029).
- The global meat ingredients market was valued at USD 7,835.4 million in the current year. One of the primary factors driving the meat ingredients market is the increasing demand for processed meat products across the regions. Meat ingredients give processed meat products special enhanced qualities.
- The need for meat extenders is rapidly increasing. Meat extenders are plant-based substances that include a blend of carbohydrates, proteins, and other nutrients and are used to improve the nutritional and functional qualities of meat products. Aside from the nutritional value of these components, meat extenders are becoming more popular due to their lower environmental impact. As a result, the meat ingredients market is growing at a steady growth rate.
- From a medium- to long-term perspective, the meat ingredients market is growing rapidly. A significant factor propelling this market is the high demand for convenience foods, such as instant meat-based snacks. Other factors, such as the increasing user application in processed foods, such as meat, frozen meat, etc., along with nutrition and taste convergence, which increased the usage of flavoring agents and salts, are also driving this market.
- However, factors like quality standards, clean labeling, and health concerns hinder the market. Meat processing technology will also contribute to the improvement of heavily extended meat products. Increased regulations by the FDA and other regulatory bodies in the developed markets are hindering the growth of processed food, mainly processed meat and poultry, in the countries.
Meat Ingredients Market Trends
This section covers the major market trends shaping the Meat Ingredients Market according to our research experts:
Increasing Demand for Clean Label Meat Products
- The demand for natural, additive-free food has taken the food industry by storm and shows no sign of abating. Today's consumers are more concerned about the food they eat than ever before. The rise in popularity of these products has been a direct result of increasing awareness regarding environmental sustainability, animal welfare, and creating better and healthier food systems.
- While the strong demand for convenient, healthy, and natural products has opened up new opportunities for the meat industry, the clean label revolution has also brought challenges. Recent studies have demonstrated that an increasing number of consumers check food labels more thoroughly as part of the decision-making process.
- According to a study published by the International Food Information Council Foundation in 2021, over half (54%) of participants indicated that front-of-package (FOP) labels have an impact on food and beverage purchases, and nearly a quarter (24%) agree that they have a considerable impact. Most survey participants (94%) were familiar with at least one FOP label. Besides the date, price, and country of origin, ingredients are becoming increasingly important. In particular, additives are one of the main concerns among consumers in developed countries. Still, it is also a growing consideration for consumers in emerging markets, opening up new opportunities for clean-label foods and ingredients.
Asia Pacific is the Fastest Growing Region
- The Asia-Pacific region is projected to be the fastest-growing market, with a robust CAGR during the forecast period. This growth is mainly due to a large number of food processing and storage industries, particularly in developing countries such as India, China, and a few other Asian countries. China is one of the largest countries of meat consumers in the region. The consumer's inclination toward convenience food has increased due to the rising working population and rapid urban urbanization in the country. This is fueling the meat ingredients market in the country.
- Additionally, the region's market growth is mainly attributed to the growing investment in the processed meat industry due to the rapid economic development, changing customer dietary habits and preferences, and increasing demand for flavorful meat products.
- Further, the meat processing industry benefits from government initiatives, which will likely drive the demand for meat ingredients in the market.
- For instance, the 15th Finance Commission cycle extended the Pradhan Mantri Kisan SAMPADA Yojana (Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters) by INR 4,600 crores (625 million) until 2026. PM Kisan SAMPADA Yojana will implement the following programs: Integrated Cold Chain and Value Addition Infrastructure, Food Processing and Preservation Capacity Creation (Unit Scheme), Infrastructure for Agro-processing Clusters, Food Safety and Quality Assurance Infrastructure, Human Resources and Institutions - Research and Development, Operation Greens.
- Moreover, owing to the increasing demand for processed meat from various industries and the popularity of chicken and mutton variants in Asian countries like China, India, South Korea, Singapore, and others, the market is expected to grow rapidly in the foreseeable future.
Meat Ingredients Industry Overview
The Global meat ingredients market facilitates its operation in a highly competitive market, owing to the presence of many regional and country-level players. The key players in the meat ingredients market include International Flavors & Fragrances, Inc., Kerry Group plc, Firmenich SA, Givaudan, and Archer Daniels Midland Company, among others. Besides new product launches, companies are increasingly resorting to inorganic means of expansion, such as mergers, acquisitions, and collaborations. Further, economies of scale and high brand loyalty among consumers give these companies an upper edge. Further expansion of the product portfolio within all categories may enhance the companies' positions in the market.
Meat Ingredients Market Leaders
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International Flavors & Fragrances, Inc.
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Kerry Group plc
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Archer Daniels Midland Company
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Roquette Frères
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Süddeutsche Zuckerrübenverwertungs-Genossenschaft eG (Beneo)
*Disclaimer: Major Players sorted in no particular order
Meat Ingredients Market News
- May 2022: Kerry Group opened a new EUR 38 million (USD 40 million) manufacturing plant in Africa. The 10,000-square-meter plant is to produce sustainable nutrition products that will be consumed across Africa. The facility will advance Kerry's F&B production capacity by 40% to 40,000 tons per annum and expect to reach 50,000 tons in a future expansion.
- February 2022: Givaudan launched PrimeLock+, a patent-pending, natural, vegan-friendly integrated solution miming animal fat cells, enabling food companies to take plant-based product development and consumer satisfaction to a new level.
- November 2021: Tate & Lyle PLC, a leading global provider of food and beverage solutions and ingredients, and Nutriati, an ingredient technology company developing solutions from one of the industry's most functional plant-based ingredients, signed an exclusive five-year partnership for Tate & Lyle to distribute high-quality, sustainable chickpea protein and flour.
Meat Ingredients Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions & Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
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5.1 Ingredient
- 5.1.1 Binders
- 5.1.2 Extenders
- 5.1.3 Fillers
- 5.1.4 Coloring Agents
- 5.1.5 Flavoring Agents
- 5.1.6 Preservatives
- 5.1.7 Texturing Agents
- 5.1.8 Salts
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5.2 Geography
- 5.2.1 North America
- 5.2.1.1 United States
- 5.2.1.2 Canada
- 5.2.1.3 Mexico
- 5.2.1.4 Rest of North America
- 5.2.2 Europe
- 5.2.2.1 Germany
- 5.2.2.2 United Kingdom
- 5.2.2.3 France
- 5.2.2.4 Spain
- 5.2.2.5 Italy
- 5.2.2.6 Russia
- 5.2.2.7 Rest of Europe
- 5.2.3 Asia-Pacific
- 5.2.3.1 China
- 5.2.3.2 India
- 5.2.3.3 Japan
- 5.2.3.4 Australia
- 5.2.3.5 Rest of Asia-Pacific
- 5.2.4 South America
- 5.2.4.1 Brazil
- 5.2.4.2 Argentina
- 5.2.4.3 Rest of South America
- 5.2.5 Middle East & Africa
- 5.2.5.1 Saudi Arabia
- 5.2.5.2 South Africa
- 5.2.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Strategy Adopted by Key Players
- 6.2 Market Share Analysis
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6.3 Company Profiles
- 6.3.1 International Flavors & Fragrances, Inc.
- 6.3.2 Kerry Group plc
- 6.3.3 Firmenich SA
- 6.3.4 Archer Daniels Midland Company
- 6.3.5 Süddeutsche Zuckerrübenverwertungs-Genossenschaft eG (Beneo)
- 6.3.6 Roquette Frères
- 6.3.7 Tate & Lyle PLC
- 6.3.8 Koninklijke DSM N.V.
- 6.3.9 Ingredion Incorporated
- 6.3.10 Cargill, Incorporated
- 6.3.11 Corbion N.V.
- 6.3.12 Givaudan SA
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Meat Ingredients Industry Segmentation
Meat Ingredients are defined for the scope of this report as ingredients used in the preparation of processed meat forms. The market operates on a B2B level.
The meat ingredients market is segmented by ingredient and geography. By ingredient, the market is segmented into binders, extenders, fillers, coloring agents, flavoring agents, preservatives, texturing agents, and salts. The study provides an analysis of emerging and established economies across the world, comprising North America, Europe, South America, Asia-Pacific, and Middle-East & Africa.
For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| Ingredient | Binders | |
| Extenders | ||
| Fillers | ||
| Coloring Agents | ||
| Flavoring Agents | ||
| Preservatives | ||
| Texturing Agents | ||
| Salts | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Rest of North America | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Spain | ||
| Italy | ||
| Russia | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| Australia | ||
| Rest of Asia-Pacific | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle East & Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle East & Africa |
Meat Ingredients Market Research FAQs
How big is the Meat Ingredients Market?
The Meat Ingredients Market size is expected to reach USD 9.09 billion in 2024 and grow at a CAGR of 5.25% to reach USD 11.75 billion by 2029.
What is the current Meat Ingredients Market size?
In 2024, the Meat Ingredients Market size is expected to reach USD 9.09 billion.
Who are the key players in Meat Ingredients Market?
International Flavors & Fragrances, Inc., Kerry Group plc, Archer Daniels Midland Company, Roquette Frères and Süddeutsche Zuckerrübenverwertungs-Genossenschaft eG (Beneo) are the major companies operating in the Meat Ingredients Market.
Which is the fastest growing region in Meat Ingredients Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Meat Ingredients Market?
In 2024, the Europe accounts for the largest market share in Meat Ingredients Market.
What years does this Meat Ingredients Market cover, and what was the market size in 2023?
In 2023, the Meat Ingredients Market size was estimated at USD 8.64 billion. The report covers the Meat Ingredients Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Meat Ingredients Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Meat Ingredients Industry Report
The Global Meat Ingredients Market Analysis report provides a comprehensive industry overview, focusing on various segments such as binders, extenders, fillers, coloring agents, flavoring agents, preservatives, texturing agents, and salts. This market research spans multiple geographical regions including North America, Europe, Asia-Pacific, South America, and the Middle-East and Africa. The report offers valuable industry information, including market size and market value, presenting a detailed market review and market segmentation.
Industry reports indicate a significant market growth and a positive market outlook, driven by the demand for meat ingredients across different regions. The industry analysis highlights key market trends and industry statistics that shape the market forecast. Market leaders in the meat ingredients sector are identified, providing insights into market data and market predictions.
The industry research emphasizes the growth rate of the market, supported by a thorough market analysis and market forecast. This industry report serves as a report example, offering a report pdf for further reference. Research companies have contributed to this market research, ensuring the accuracy and reliability of the industry sales and market predictions.
Overall, the meat ingredients market demonstrates strong industry trends and a promising market outlook, with detailed industry statistics and market segmentation providing a clear picture of the market's future trajectory. The industry size and market value are expected to continue their upward trend, driven by the ongoing demand and market growth in various regions.
