Meat Seasonings Market was valued US$ 4,599.4 Mn in 2022 and is expected to reach US$ 8963.5 Mn in 2032, likely to surge at CAGR of 6.9% during forecast period 2022-2032.
In the past few decades, the worldwide consumption and production of meat have increased rapidly and, in many parts of the world, per capita consumption of meat is continuing to grow. However, regions like North America and Europe, are gradually losing market shares, regions like Latin America and Southeast Asia have become new centers of production and consumption. Reasons for the success of meat products are: i) the healthy image of the product, mainly due to the high protein/ low-fat content coupled with a balanced n-6 to n-3 PUFA ratio; ii) lower price with respect to red meats.
Rich presence of essential oils and oleoresins determine the aromatic, flavoring, coloring and pungent properties of spices and condiments. Antiseptic and preservative property of certain spices is due to the essential oils. In addition to imparting distinctive flavors, spices contain antioxidant properties and inhibit rancid flavor development associated with lipid oxidation.
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Meat Seasonings Market: Drivers & Restraints
Key factors which are boosting the growth of meat seasonings are the consumption of processed food. Also, the driving factor for meat seasonings is usage in organic meat products. Organic poultry market is growing at a considerable rate. Increase in consumption of meat products in Latin America and South East Asia has further fuelled meat seasonings market.
Rising demand for pork meat, greater emphasis on the processed meat and poultry products, the rise in consumer preference toward protein-rich food has been the driving factor of meat seasonings market. Few of the factors which have affected meat seasonings market is perceived health risk of eating meat. As USDA and other government agencies have put more energy toward promoting healthy lifestyles; new regulations for the supply of processed meat may impact meat seasonings market.
Overall, the global market for Meat Seasonings is expected to increase considerably by the end of forecast period. Meat Seasonings market for the Asia Pacific is also expected to witness rapid growth during the forecast period primarily attributed to the growth of food and beverage industry, especially in China and India. The Meat Seasonings market is growing at a faster rate and is expected to grow at high CAGR in forecasted years.
Few players identified in Meat Seasonings market are:-
- McCormick & Company
- Associated British Foods PLC
- Kerry Group PLC
- Olam International Limited
- Ajinomoto Co., Inc
- Ariake Japan Company
- SHS Group
- Dohler Group
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Meat Seasonings Market: Market Segmentation
Meat Seasonings market is segmented into four parts based on the types, industrial application, end users type, and geography.
Based on the type meat seasonings market is segmented into:
- Pepper
- Capsicum
- Ginger
- Cinnamon
- Cumin
- Turmeric
- Nutmeg & Mace
- Cardamom
- Coriander
- Cloves
- Others
Based on the application meat seasonings market is segmented into:
- Meat & poultry products
- Frozen products
Based on the end use, meat seasonings market is segmented into:
- Hospitality
- Packaged Food Industry
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