Meat Extracts Market Size

Meat Extracts Market Size

Meat Extracts Market size was valued at USD 1.89 billion in 2023 and is estimated to observe around 4.3% CAGR from 2024 to 2032, driven by various factors that cater to the changing consumer preferences and dietary habits.

Meat extracts, which are concentrated liquids or pastes derived from the essence of cooked meat, have found their way into a wide range of culinary applications, from enhancing the flavor of soups and sauces to being used as a nutrient-rich ingredient in processed foods. The market is witnessing innovation in terms of product diversification, with manufacturers exploring various meat sources such as beef, chicken, and pork to cater to different taste preferences. Furthermore, the rising interest in plant-based and vegetarian diets has spurred the development of meat extract alternatives from plant sources.

Meat extracts are widely used in ready-to-cook meals as flavor enhancers and to improve the overall taste and texture of the food. The growing demand for ready-to-cook meals, especially among working professionals and millennials, is driving the growth of the meat extract market. Meat extracts are a good source of protein, which is essential for a healthy diet. The rising demand for protein-rich food among consumers is also driving the growth of the market. However, the meat industry can be susceptible to supply chain disruptions due to factors like disease outbreaks, environmental issues, and regulatory changes.