According to IMARC Group’s latest research report, titled “Smoke Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the smoke ingredients market. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global smoke ingredients market size reached US$ 72.70 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 103.38 Million by 2028, exhibiting a growth rate (CAGR) of 6.10% during 2023-2028.
Smoke Ingredients Market Outlook:
Smoke ingredients are food elements used to impart a smoky flavor to food. These can be derived from natural or synthetic sources. Burning wood chips derive natural smoke ingredients, and the smoke is collected and condensed into a powder form. These ingredients are further processed to remove impurities and adjust the flavor profile. Synthetic smoke ingredients are obtained by combining chemicals that mimic the flavor and aroma of smoke. These are utilized in processed foods where the natural smoky flavor has been lost during food processing. Smoke ingredients are mainly used in meat, poultry, fish, cheese, and other dairy products. They can also be added to plant-based foods for a smoky flavor.
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Smoke Ingredients Market Trends:
The global market is primarily driven by the increasing demand for processed and convenience foods. In line with this, the rising interest in ethnic and exotic flavors is significantly contributing to the market. Furthermore, advancements in technology to develop consistent quality and flavor smoke ingredients are offering lucrative opportunities for the market. Apart from this, the growing popularity of barbecuing and grilling is positively influencing product demand. Moreover, the escalating demand for natural smoke ingredients is strengthening the market. Besides, the increasing consumer awareness of the health risks associated with traditional smoking methods is creating a positive outlook for the market. Additionally, the rising trend of vegan and vegetarian diets that rely on plant-based proteins with smoky flavors is providing a boost to the market. Other factors driving the market include expansion of the food service industry, growing interest in clean label and natural ingredients, escalating popularity of smoked cheese and dairy products, increasing focus on meat preservation and longer shelf-life, the emergence of new smoke flavors and varieties, and rapid utilization of smoke ingredients in non-food applications such as cosmetics and perfumes.
Key Market Segmentation:
Competitive Landscape with Key Players:
- Azelis Holding S.A
- B&G Foods Inc.
- Besmoke Ltd
- Essentia Protein Solutions
- International Flavors & Fragrances Inc.
- Kerry Group plc
- Lallemand Inc.
- Bakery and Confectionery
- Meat and Seafood
- Snacks and Sauces
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.