Global Smoke Ingredients for Food Market Report and Forecast 2023-2028

Global Smoke Ingredients for Food Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global smoke ingredients for food market reached a value of USD 525.96 million in 2022. Aided by the escalating demand for flavour-rich food products and the increasing applications of smoke ingredients in the food sector, the market is projected to further grow at a CAGR of 6.11% between 2023 and 2028 to reach a value of USD 753.84 million by 2028.

Smoke ingredients, obtained through the controlled burning of a variety of wood types, are commonly used as flavour enhancers in a wide range of food products, including meat, fish, sauces, and seasonings. Hence, the thriving food and beverage sector across emerging economies is fuelling the smoke ingredients for food market growth. Additionally, they play a crucial role in imparting a unique smoky flavour and aroma to food items, enhancing their overall appeal. Apart from their flavouring properties, smoke ingredients also possess excellent antimicrobial and antioxidant properties, making them valuable ingredients in the food industry.

The increasing consumer preference for flavour-rich food products is boosting the global smoke ingredients for food market demand. With the growing awareness of the unique taste experience associated with smoke-flavoured foods, there has been a substantial shift towards such food products, leading to a surge in demand for smoke ingredients. Additionally, the rising trend of gourmet cooking and experimenting with different cuisines has further boosted the popularity of smoke ingredients as they offer an easy way to recreate authentic smoky flavours.

The expanding applications of smoke ingredients in the food industry also play a significant role in propelling the smoke ingredients for food market growth. In the meat processing sector, smoke ingredients are used as flavour enhancers, colour developers, and preservatives. The barbecue and grilling segments utilise smoke ingredients for their unique flavouring and aromatic properties, essential in the creation of various grilled dishes. Moreover, smoke ingredients' antioxidant and antimicrobial properties make them a valuable component in the preservation and shelf-life extension of food products.

Furthermore, the growing demand for natural and clean-label ingredients in the food and beverage industry has led to an increased focus on smoke ingredients as a viable option. With the rise of health-conscious consumers and the increasing popularity of organic and natural products, smoke ingredients have emerged as a critical component in the formulation of such food items, thereby boosting the smoke ingredients for food market expansion.

Market Segmentation

The market can be divided based on form, application, sales channel, and region.

Market Breakup by Form

• Liquid
• Powder
• Others

Market Breakup by Application

• Dairy
• Bakery and Confectionery
• Meat and Seafood
• Snacks and Sauces
• Others

Market Breakup by Sales Channel

• Hypermarket/Supermarket
• Convenience Store
• Discount Stores
• Food and Drink Speciality Store
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global smoke ingredients for food companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Kerry Group plc
• Azelis Group
• Besmoke Ltd.
• Essentia Protein Solutions
• MSK Ingredients Ltd.
• H.E. Stringer Flavours Limited
• B&G Foods, Inc.
• Flavourstream SRL
• International Flavours & Fragrances Inc.
• Colgin Inc.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.