Market Size of Meat Ingredients Industry
| 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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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 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 | |||||||||
| |||||||||
| |||||||||
| |||||||||
| |||||||||
|
Meat Ingredients Market Size Summary
The meat ingredients market is experiencing steady growth, driven by the increasing demand for processed meat products and the rising popularity of meat extenders. These extenders, which are plant-based substances, enhance the nutritional and functional qualities of meat products, contributing to their growing adoption due to their lower environmental impact. The market is further propelled by the high demand for convenience foods, such as instant meat-based snacks, and the convergence of nutrition and taste, which has led to increased usage of flavoring agents and salts. However, challenges such as quality standards, clean labeling, and health concerns, along with regulatory hurdles in developed markets, pose obstacles to market expansion. Despite these challenges, advancements in meat processing technology are expected to improve the quality of heavily extended meat products, supporting market growth.
The Asia-Pacific region is anticipated to be the fastest-growing market, fueled by the burgeoning food processing and storage industries in countries like China and India. The region's growth is supported by government initiatives and investments in the processed meat industry, driven by rapid economic development and changing consumer dietary preferences. The demand for flavorful meat products and the popularity of chicken and mutton variants in Asian countries are key factors contributing to market expansion. The global meat ingredients market is highly competitive, with major players like International Flavors & Fragrances, Inc., Kerry Group plc, and Givaudan leading the charge through product innovation and strategic expansions. These companies are leveraging economies of scale and high brand loyalty to strengthen their market positions, with recent developments including new manufacturing facilities and partnerships to enhance their product offerings.
Meat Ingredients Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.3 Market Restraints
-
1.4 Porter's Five Forces Analysis
-
1.4.1 Bargaining Power of Suppliers
-
1.4.2 Bargaining Power of Buyers
-
1.4.3 Threat of New Entrants
-
1.4.4 Threat of Substitute Products
-
1.4.5 Degree of Competition
-
-
-
2. MARKET SEGMENTATION
-
2.1 Ingredient
-
2.1.1 Binders
-
2.1.2 Extenders
-
2.1.3 Fillers
-
2.1.4 Coloring Agents
-
2.1.5 Flavoring Agents
-
2.1.6 Preservatives
-
2.1.7 Texturing Agents
-
2.1.8 Salts
-
-
2.2 Geography
-
2.2.1 North America
-
2.2.1.1 United States
-
2.2.1.2 Canada
-
2.2.1.3 Mexico
-
2.2.1.4 Rest of North America
-
-
2.2.2 Europe
-
2.2.2.1 Germany
-
2.2.2.2 United Kingdom
-
2.2.2.3 France
-
2.2.2.4 Spain
-
2.2.2.5 Italy
-
2.2.2.6 Russia
-
2.2.2.7 Rest of Europe
-
-
2.2.3 Asia-Pacific
-
2.2.3.1 China
-
2.2.3.2 India
-
2.2.3.3 Japan
-
2.2.3.4 Australia
-
2.2.3.5 Rest of Asia-Pacific
-
-
2.2.4 South America
-
2.2.4.1 Brazil
-
2.2.4.2 Argentina
-
2.2.4.3 Rest of South America
-
-
2.2.5 Middle East & Africa
-
2.2.5.1 Saudi Arabia
-
2.2.5.2 South Africa
-
2.2.5.3 Rest of Middle East & Africa
-
-
-
Meat Ingredients Market Size 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.
