The Smoke Ingredient market is valued at USD 694.4 Million in 2022 and is projected to grow at a CAGR of 5.2% during the forecast period, to reach a value of USD 1,152.9 Million by 2032. Newly released data from Future Market Insights market analysis shows that global Smoke Ingredient demand is projected to grow year-on-year (Y-o-Y) growth of 3.2% in 2022.
| Attributes | Details |
|---|---|
| Market Size Value in 2022 | USD 694.4 Million |
| Market Forecast Value in 2032 | USD 1,152.9 Million |
| Global Growth Rate (2022 to 2032) | 5.2% CAGR |
| Forecast Period | 2022 to 2032 |
| Collective Value Share: Top 3 Countries (2021A) | 38.7% |
Food additives called smoke ingredients are used in the food industry to give food items a smoky flavor. Grilling or roasting these foods is either allowed or prohibited. Typically, the liquid form of the smoke is incorporated into this dish.
The entire combustion of hardwoods like maple, oak, and hickory plants produces liquid smoke. Condensate is produced and gathered as a result of combustion. Liquid smoke is the name given to the accumulated condensate. While there have been reports about the possibility of food burning when grilling or barbecuing, this issue can be resolved by using common smoking additives. Hence, the use of smoke ingredients in food processing is economical.
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The market grew with a CAGR of 4.3% between 2017 and 2021, as in the food processing sector, restaurants, the bakery & confectionery industry, and other locations, smoke components are used extensively. Customers' desire for smoke components will boost market growth during the projection period.
Additionally, the market for smoke components will benefit from chances for revenue creation due to the accessibility of smoke ingredients for food in retail outlets. Growth may be constrained, nevertheless, by growing knowledge of the carcinogenic effects of smoked food products.
Companies that produce processed foods have been increasing their investments in smoke ingredients for food as functional additives in the creation of meats, seafood, sauces, seasonings, poultry products, crackers, and bread during the past few years. These goods are now widely seen by customers as food additives that don't have any negative side effects.
One of the important uses for liquid smoke products is to substitute locally produced wood smoke for the direct cooking of food. The demand for this product has significantly increased as a result all over the world. To give food products the desired and practical impression of smoke, the smoke ingredient is typically sprayed topically.
The ability of these goods to add a smoky flavor and scent to a variety of recipes has made them highly well-liked in industrialized nations like Germany and the United Kingdom. Additionally, premium smoked food products like smoked salmon and sausages are becoming more popular among consumers worldwide. While the conventional method of smoking meat products is anticipated to be difficult.
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Between 2022 and 2032, the USA smoke ingredient market will grow at 8.9 % CAGR as a sizable portion of USA customers is looking for alternatives to food that has been directly smoked. Direct smoking can be replaced by smoking ingredients for food. Given that barbecuing has a rich culinary history in the USA, many smoke ingredient producers are vigorously pushing their products.
However, many users are hesitant to attempt smoke ingredients, much as they are in Europe and Australia-New Zealand, believing that it cannot replicate the genuine flavor produced by direct burning. As a result, compared to direct sales to the residential segment, the demand for the smoke ingredient is still very concentrated in the commercial sector.
The German smoke ingredient market is projected to grow with a CAGR of 9.8% as smoke ingredients consumption in Germany will be driven by a growing preference for smoky-flavored food products. Mimicking the USA sales data of smoke ingredients for food, the market growth in Germany will rely on demand from commercial organizations. Direct-to-consumer sales of smoke ingredients continue to be relatively low, and the bulk of demand will be in the commercial segment.
Several food products, including dairy, meat, pet food, sauces & condiments, and others, use smoke ingredients for food. The meat category has the biggest demand for smoke ingredients out of all of these. Applications related to meat accounted for 30% of the market in 2022. Market revenues for meat are expected to increase at an 8% CAGR from 2022 to 2032.
The smoke ingredients application in the sauces segment is set to grow at a high CAGR during the forecast period. The BBQ sauce segment continues to enjoy popularity, and as smoke ingredients for food as quick to cook, demand has witnessed an increase in recent years. According to FMI analysis on smoked ingredients sauces, this category is set to grow at a high CAGR during the assessment period.
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Market participants in the smoke ingredients for the food market are concentrating on offering new flavors to cater to consumers' diverse palates. In this sector, mergers and acquisitions are still a major activity. For instance, Frutarom was purchased by International Flavors & Fragrances Inc. to strengthen its taste, fragrance, and nutrition business. Fleischmann's Vinegar Company Inc. and AATCO Food Industries LLC were acquired by Kerry.
| Attribute | Details |
|---|---|
| Market Size Value in 2022 | USD 694.4 Million |
| Market Forecast Value in 2032 | USD 1,152.9 Million |
| Global Growth Rate | 5.2% CAGR |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | MT for Volume and USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and Middle East and Africa(MEA) |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, Chile, Peru, Germany, France, Italy, Spain, United Kingdom, Netherlands, Belgium, Nordic, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, North Africa, and others |
| Key Market Segments Covered | Form, Application, Sales Channel |
| Key Companies Profiled | MSK; FRUTAROM Savory Solutions GmbH; Redbrook Ingredients Services; Besmoke; Red Arrow; Dempsey Corporation; Azelis; Kerry Ingredients; Associated British Foods Plc.; Others |
| Pricing | Available upon Request |
The Smoke Ingredient market is estimated to reach sales of nearly USD 694.4 Million by 2022.
Smoke Ingredient market revenue is expected to increase at a CAGR of around 5.2% during the period 2022 to 2032.
Smoke Ingredient sales increased a CAGR of around 4.3% over the past half-decade.
The global Smoke Ingredient market value is estimated to be around USD 1,152.9 Million in 2032.
The top countries driving the Smoke Ingredient demand are the USA, Germany, China, and the United Kingdom.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Form 6.2. Application 6.3. Sales Channel 7. Global Market Analysis and Forecast, By Form 7.1. Liquid 7.2. Powder 8. Global Market Analysis and Forecast, By Application 8.1. Meat and seafood 8.2. Sauces 8.3. Pet Food and Treats 8.4. Dairy 8.5. Others (Snacks, Bakery & Confectionery) 9. Global Market Analysis and Forecast, By Sales Channel 9.1. Hypermarket/Supermarket 9.2. Convenience Store 9.3. Discount Stores 9.4. Food & Drink Specialty Store 9.5. Others 10. Global Market Analysis and Forecast, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. East Asia 10.5. South Asia 10.6. Oceania 10.7. Middle East & Africa 11. North America Sales Analysis and Forecast, by Key Segments and Countries 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries 13. Europe Sales Analysis and Forecast, by Key Segments and Countries 14. East Asia Sales Analysis and Forecast, by Key Segments and Countries 15. South Asia Sales Analysis and Forecast, by Key Segments and Countries 16. Oceania Sales Analysis and Forecast, by Key Segments and Countries 17. Middle East & Africa Sales Analysis and Forecast, by Key Segments and Countries 18. Sales Forecast by Form, Application, and Sales Channel for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. MSK 20.2. FRUTAROM Savory Solutions GmbH 20.3. Redbrook Ingredients Services 20.4. Besmoke 20.5. Red Arrow 20.6. Dempsey Corporation 20.7. Azelis 20.8. Kerry Ingredients 20.9. Associated British Foods Plc. 20.10. Others
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Smoke Ingredients for Food Market
