Future Market Insights forecasts significant growth for the global liquid smoke market, with projections indicating a rise from US$ 93 million in 2023 to US$ 245 million by 2033, reflecting a robust 11.7% CAGR over the forecast period.
The surge in demand for processed food products, coupled with the expanding utilization of liquid smoke across a diverse range of food items such as barbecue sausage, seafood, and hot dogs, is fueling industry expansion.
In recent years, liquid smoke has emerged as a favored option in the food service industry, serving as a viable substitute for traditional meat smoking methods. Its versatile application as a flavor enhancer in various food products has garnered significant attention among consumers.
Liquid smoke not only aids in food preservation but also imparts distinctive flavors, contributing to the appeal of food offerings. The rapid growth of the food processing sector, combined with the rising popularity of smoked food items, is expected to drive substantial growth in the global liquid smoke industry throughout the assessment period.
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The efficacy of liquid smoke solution is further heightened by employing sophisticated food-grade processes like oil extraction, spray-drying, and plating onto various food and food ingredients such as flour, yeast, and salt. Consequently, the burgeoning processed food industry is poised to serve as a significant catalyst in propelling the sales of liquid smoke.
Moreover, the increasing awareness surrounding the health and environmental advantages associated with liquid smoke is anticipated to drive market growth in the coming years. Liquid smoke is renowned for its eco-friendliness, as it does not emit harmful pollutants into the environment.
Furthermore, the rising global penchant for barbecue sauces is slated to contribute significantly to the rapid expansion of the liquid smoke industry over the next decade.
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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.
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
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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