According to Future Market Insights, the global liquid smoke market is witnessing exponential growth, driven by increasing consumption of smoked food products and growing preference for eco-friendly alternatives. With a projected CAGR of 11.7%, the market is expected to reach a valuation of US$ 245 million by 2033.
The liquid smoke market, valued at US$ 93 million in 2023, is experiencing robust growth propelled by rising demand for smoked food products and the adoption of eco-friendly alternatives to traditional smoking methods. Liquid smoke, derived from condensed wood smoke, offers a convenient and sustainable way to impart smoky flavors to a variety of food products without the need for actual wood smoke.
In recent years, liquid smoke has gained immense traction across food service industry as a substitute for actual meat smoking. It is being increasingly used as a flavoring in various food products to make them appealing to consumers.
The demand for liquid smoke is surging globally, driven by factors such as increasing consumption of flavored foods, growing awareness of the health benefits of liquid smoke, and rising environmental concerns associated with traditional smoking methods. Liquid smoke is widely used in commercial food production, including barbecue sauces, seafood, marinades, and hot dogs, driving market expansion.
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The global liquid smoke industry is witnessing significant growth due to rising environmental concerns coupled with the demand for eco-friendly products. Traditional smoking methods contribute to environmental pollution through the emission of harmful pollutants. In contrast, liquid smoke offers a sustainable and eco-friendly alternative, leading to increased adoption across households and commercial food sectors.
The usefulness of the smoke solution is enhanced through the use of more complex food-grade processes such as extraction with oil, spray-drying, and plating onto food and food ingredients such as flour, yeast, and salt. Therefore, the growing processed food industry is expected to play a key role in boosting liquid smoke sales.
Similarly, growing awareness about the health and environmental benefits of liquid smoke is expected to boost sales in the market during the forecast period. Liquid smoke is eco-friendly as it does not release toxic pollutants into the environment.
Another factor that is expected to help the liquid smoke industry to thrive rapidly during the next ten years is the growing preference for barbeque sauces across the world.
Key Takeaways from the Report:
- Based on application, meat and seafood segment will continue to dominate the global liquid smoke market during the forecast period.
- By distribution channel, online stores segment will grow at a significant pace over the next ten years.
- The United Kingdom liquid smoke market size is projected to reach US$ 13.0 million by 2033.
- The USA liquid smoke market is expected to expand at a CAGR of 6.9 % during the projection period.
- Liquid smoke demand in Japan is poised to surge at 9.4% CAGR between 2023 and 2033.
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Who is Winning?
Leading manufacturers of liquid smoke include Azelis Holdings S.A., B&G Foods, Inc., International Flavors & Fragrances, Inc., McCormick & Company, Inc., Kerry Group PLC, Colgin, Inc., MSK Ingredients Limited, PS Seasoning, Baumer Foods, Aminola, Sacchetto SpA, and Others
Liquid Smoke Industry by Category
By Smoke Type:
- Hickory
- Mesquite
- Applewood
- Others
By Application:
- Bakeries
- Beverages
- Dairy
- Meat and Sea Food
- Pet Food
- Others
By Distribution Channel:
- Supermarkets
- Departmental Store
- Modern Trade
- Food Chain Services
- Online Stores
- Food and Liquid Store
- Others
By Region, Liquid Smoke Market is Segmented as:
- North America
- Latin America
- Europe
- Middle East and Africa
- East Asia
- South Asia
- Oceania
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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