JULY 17, 2019: The global liquid smoke market size is expected to reach USD 92.3 million by 2025, according to a new report by Radiant Insights, Inc., expanding at a CAGR of 7.2% over the forecast period. Growing popularity of liquid smoke as functional ingredients in manufacturing processed foods on account of its easy handling characteristics and high water solubility is expected to remain a key driving factor in the market. Furthermore, increasing consumption of barbeque dishes among working class population of developing economies including China and India is expected to open new avenues for the industry over the next few years.
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North America generated a revenue of more than USD 18.0 million in 2018. This region is expected to foresee gains due to shifting preference for liquid smoke as browning agents, color stabilizers, and antimicrobial additives in the meat and sauce industry of U.S. and Canada. Furthermore, strong brand foothold of key liquid smoke industry participants including Red Arrow International LLC and Colgin through their well-established distribution networks in U.S. is projected to remain a favorable trend in the near future.
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Asia Pacific is projected to account for a share of 20.5% by the end of 2025. This revenue growth is attributed to the positive outlook towards the food processing industry in the countries including China and India, wherein the governments are framing favorable laws and investments are increasing by multi-national companies. These policies are expected to expand the scope of liquid smoke as functional ingredients in manufacturing various processed foods produced in the aforementioned countries.
Meat products are expected to generate a revenue of USD 28.8 million by the end of 2025. Meat products have been the largest application segment for this product, wherein the primary purpose behind its use is to give a smoky taste to the meat products, such as barbeque sausages and salmon.
Further key findings from the study suggest:
• By application, pet foods are projected to exceed a revenue of USD 10.0 million by 2025. Sauces accounted for 24.5% share of the overall revenue in the year 2018
• Europe is expected to account for 31.3% share of global revenue by 2025
• Key industry participants include Red Arrow International LLC; Baumer Foods Inc.; Azelis SA; B&G Foods Inc.; Ruteinberg Ingredients BV; Kerry Groupe PLC; MSK Ingredients; Redbrook Ingredients Services Ltd.; and Besmoke Ltd.
Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. Liquid Smoke Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
Continued…
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About Radiant Insights:Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Media Contact:Company Name: Radiant Insights, Inc
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Email: sales@radiantinsights.com
Phone: (415) 349-0054
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For more information, Visit: http://www.radiantinsights.com
Contact Person: Michelle Thoras
Email: sales@radiantinsights.com
Phone: (415) 349-0054
Address: 201 Spear St #1100, Suite #3036
City: San Francisco
State: California
Country: United States
For more information, Visit: http://www.radiantinsights.com
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