Specialty Meat Ingredients Market is Set to Reach US$ 5.9 Billion at a CAGR of 5.2% by 2033: Fact.MR Report

The specialty meat ingredients market in the U.S is driven by shifting consumer dietary tastes and habits, rising demand for flavorful meat products, and increasing investments in the processed meat sector.

Rockville, July 25, 2023 (GLOBE NEWSWIRE) — As per a new research report by Fact.MR, a provider of market research and competitive intelligence, Global Specialty Meat Ingredients Market is expected to witness a market value of US $ 5.9 Bn by 2033 and is predicted to witness a CAGR of 5.2% during the forecast period.

The qualities of processed meat products are improved by specialty meat additives. The market is seeing a substantial increase in demand for processed meat and vegan goods.

Several businesses are making investments to develop new meat brands and products. Healthy specialty meat ingredients are more widely accepted on the market because to consistent focus on the creation and distribution of healthy meat products.

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Due to the introduction of varied flavors, nutrients, and textures in different places, processed meat is currently more in demand. Due to a paradigm shift towards the consumption of plant-based meat products, there is a surge in demand for cultured and plant-based meat on the market.

Key Driving Forces Accelerating the Market Growth

• Consumers are increasingly seeking specialty meat ingredients derived from natural and organic sources. The demand for clean-label products with minimal additives and preservatives has driven the growth of specialty meat ingredients that cater to health-conscious and environmentally aware-consumers.
• As health and wellness awareness grows, consumers are looking for specialty meat ingredients that offer additional health benefits beyond basic nutrition. Ingredients such as fortified proteins, collagen peptides, and omega-3 fatty acids derived from specialty meat sources are gaining popularity.
• There is a notable trend toward premium and gourmet food products, including specialty meats. Consumers are willing to pay a premium for high-quality meats with unique flavors, textures, and sourcing, which has stimulated the market for specialty meat ingredients.
• The North American food processing industry is continuously expanding and diversifying. Food manufacturers are incorporating specialty meat ingredients to develop innovative and distinctive products to meet evolving consumer preferences. The United States market is expected to experience a CAGR of 5.6% during the forecast period.

Consumers are increasingly seeking specialty meat ingredients derived from natural and organic sources. The demand for clean-label products with minimal additives and preservatives has driven the growth of specialty meat ingredients that cater to health-conscious and environmentally aware-consumers.

As health and wellness awareness grows, consumers are looking for specialty meat ingredients that offer additional health benefits beyond basic nutrition. Ingredients such as fortified proteins, collagen peptides, and omega-3 fatty acids derived from specialty meat sources are gaining popularity.

There is a notable trend toward premium and gourmet food products, including specialty meats. Consumers are willing to pay a premium for high-quality meats with unique flavors, textures, and sourcing, which has stimulated the market for specialty meat ingredients.

Moreover, advancements in food processing technology have made it easier for manufacturers to develop and incorporate specialty meat ingredients into various food products, including sausages, burgers, snacks, and ready-to-eat.

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Challenges hindering the market growth

• Growing health consciousness among consumers has led to increased scrutiny of processed meat products. Concerns over high sodium, saturated fat, and additives in specialty meat ingredients may deter some consumers from purchasing these products.
• The rising popularity of plant-based diets and alternative protein sources, such as plant-based meat substitutes, can pose a challenge to the growth of the specialty meat ingredients market. Consumers seeking plant-based options may choose alternatives over traditional specialty meat products
• Specialty meat ingredients can be relatively expensive compared to conventional meat products, which can limit their market penetration, especially among price-sensitive consumers.

How Competition Influences the Market

Growing competition in the market is leading to the production of new specialty meat ingredients and the acquisition of the brand. Moreover, Intense competition encourages companies to invest in research and development to create innovative specialty meat ingredients. Manufacturers strive to differentiate their products by offering unique flavors, nutritional profiles, and health benefits to attract and retain customers.

• For instance, Nestle has investigated various emerging technologies to evaluate the potential of meat alternatives for the future. Moreover, Next Meats Co. has plans to develop an environmentally friendly factory.
• Next Meats Co., a Tokyo-based venture that develops alternative meats, plans to open an environmentally friendly factory. It includes everything from an R&D lab to a production line. It will serve as a one-stop shop for protein alternatives in Japan.

The sustainability call-outs on meat products will have an impact on the market for specialty meat additives. The primary factor driving the market for specialty meat ingredients is increasing worldwide competition, which is encouraging the development and acquisition of new specialty meat ingredient products and brands.

Leading producers of specialty meat ingredients join together and acquire rival companies to expand their market dominance. Major corporations are also collaborating and developing alliances with companies that specialize in the development of novel production methods.

Leading businesses are concentrating on new innovations and quality assurance to increase their market shares in the sector. To enhance their market share, they place a strong emphasis on supply chain management and quality standards.

Key Companies Profiled

• Cargill
• ADM
• DuPont
• Kerry Group
• Tate & Lyle PLC
• Ingredion Incorporated
• Sensient Technologies
• Givaudan
• Biocatalysts Ltd.
• Omega Protein Corporation
• FDL Ltd
• Nutriati Inc.
• Axiom Foods Inc.
• Amano Enzyme
• Amicogen
• Aminola

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