Future Market Insights presents useful insights and a
revised forecast of the global liquid smoke market in its published report
titled “Liquid Smoke Market: Global Industry Analysis and Opportunity
Assessment 2022-2032.” In terms of revenue, the global liquid
smoke market is estimated to exhibit a CAGR of 8% over
the forecast period, owing to numerous factors, about which Future Market
Insights offers thorough insights and forecasts in this report. The liquid
smoke market is valued at nearly US$ 70 million in 2021. During 2022-2032 and
reach US$ 151 million in revenues.
Global Liquid Smoke Market: Segmentation and Forecast
The market is segmented based on application, distribution
channel, and region. Based on application the segmentation includes, meat and
seafood, sauces, pet food and treats, dairy, and others. Amongst all the
applications, meat and seafood segment is expected to account for the highest
market share, followed by sauces segment over the forecast period. The meat and
seafood segment is expected to register a significant CAGR of 7.4% during
the forecast period in terms of value. The sauces segment is projected to
register highest CAGR of 9.6% over the forecast period in
terms of value.
Rising purchasing power in certain countries in regions such
as North America, Western Europe, and Eastern Europe, is driving spending on
processed food such as smoked products. This in turn is expected to increase
uptake of liquid smoke products required in processing food products. A
rise in the trend of pet humanization, wherein pet owners treat their pets like
family members, is driving spending on premium pet care and pet
food products. This trend, especially prevalent in North America and Europe is
expected to boost demand for premium pet food. This, in turn, is anticipated to
boost the growth of the pet food and treats segment in the global liquid smoke
market.
Global Liquid Smoke Market: Regional Forecast
This report assesses the trends driving the growth of each
segment on the global level and offers potential takeaways that could prove
substantially useful to liquid smoke manufacturers looking to enter the market.
In this report, the global liquid smoke market has been segmented into seven
major regions, namely North America, Latin America, Eastern Europe, Western
Europe, Asia Pacific Excluding Japan (APEJ), Japan, and the Middle East &
Africa (MEA). This report assesses trends driving the growth of each segment on
the global level and offers potential takeaways that could prove substantially
useful to liquid smoke manufacturers looking to enter the market. North
American market has been estimated to dominate the liquid smoke market,
accounting for a maximum revenue share of the market by 2017 end. Among the
emerging markets, APEJ is estimated to exhibit the highest CAGR of 9.1% over
the forecast period.
Latin America’s liquid smoke market was estimated to be
valued at nearly US$ 11 Mn in 2017 and is slated to reach a valuation of nearly
US$ 25 Mn in 2027, exhibiting a CAGR of 8.7% during the period
of assessment. The Japan liquid smoke market was estimated to be valued at
nearly US$ 7 Mn in 2017 and is anticipated to reach a valuation of nearly US$
14 Mn in 2027, exhibiting a CAGR of 7.5% during the period of
forecast.
Global Liquid Smoke Market: Competitive Landscape
Some of the key players in the global liquid smoke market
include Red Arrow International LLC, Baumer Foods, Inc., Azelis SA, B&G
Foods, Inc., Ruitenberg Ingredients BV, Kerry Group PLC, MSK Ingredients Ltd.,
Redbrook Ingredient Services Ltd., Besmoke Ltd. Frutarom Savory Solutions GmbH,
and others. In this report, Future Market Insights has discussed individual
strategies followed by these companies in terms of enhancing their product
portfolio, creating new marketing techniques, product offerings, mergers, and
acquisitions. The ‘Competitive Landscape’ is included to provide report
audiences with a dashboard view and company share collectively.
By Application:
- Meat
and seafood
- Sauces
- Pet
Food and Treats
- Dairy
- Others
(Snacks, Bakery & Confectionary)
By Sales Channel:
- Hypermarket/supermarket
- Convenience
Store
- Discount
Stores
- Food
& Drink Specialty Store
- Others
By Region:
- North
America
- Latin
America
- Western
Europe
- Eastern
Europe
- Asia
Pacific excluding Japan
- Japan
- Middle
East & Africa
Thanks for reading this article; you can also get
individual chapter wise section or region wise report version like North
America, Europe or Asia.
Read More: https://www.futuremarketinsights.com/reports/liquid-smoke-market