Rising Consumption Of Meat Is Expected To Boost Liquid Smoke Market Growth

 

Liquid Smoke Market


Liquid Smoke Market, By Products (Hickory, Mesquite, Applewood, Others), Applications (Seafood and Meat, Bakery and Confectionary, Sauces, Diary, Pet Foods and Treats, Others), Distribution Channel (Convenience Store, Discount Stores, Food and Drinks Specialty Stores, Hypermarket/ Supermarket, Other Distribution Channel), and By Regions (Asia Pacific, North America, Eastern Europe, Latin America, Western Europe, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2023– 2030

The global Liquid Smoke Market is projected to surpass US$ 160 million by the end of 2027, in terms of revenue, growing at CAGR of 8.1% during the forecast period (2019 to 2027), as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Liquid smoke is an organic derivative of fiery wood. The expend of a wood fire is usually smoke and steam; fire generates water in the form of vapor, and the vapor is condensed from a cooled tubing, captivates the smoke. This liquid is condensed into an essence and filtered of its impurities. The residual is a yellowish-brown element that is liquid smoke. Many brands of liquid smoke are low-priced and reasonable.

Competitive Landscape:

Key Players involved in the growth of global Liquid Smoke Market are Redbrook Ingredients Services Ltd.; Red Arrow International LLC; Ruteinberg Ingredients BV; Baumer Foods Inc.; Kerry Groupe PLC; Azelis SA; Red Arrow International, B&G Foods Inc.; Colgin; MSK Ingredients; and Besmoke Ltd. and Baumer Foods.

Market Key Drivers:

The rising use of hickory is expected to augment the growth of global Liquid Smoke Market.  For instance, the hickory market was valued at US$ 22,765.4 thousand in 2020 and is projected to reach 43,796.6 thousand by 2030.

The rising use of meat is also anticipated to drive the growth of global Liquid Smoke Market. For instance, the meat market was valued at 58,325.8 thousand by 2030.

Covid-19 Impact Analysis:

The Covid-19 outbreak has adversely affected the growth of global Liquid Smoke Market due to surge in pandemic and imposition of strict lockdown and shutdown. The rising cases has led to the strict social distancing and restriction on transportation. The rising shift of consuming food indoor and closure of all the hotels and restaurants has impeded the market growth.

Key Takeaways:

The global Liquid Smoke Market is expected to exhibit a CAGR of 11.7 % during the forecast period owing to rising use of liquid smoke in barbeques and restaurants. For instance, the barbeque industry was valued at US$ 1.8 billion in 2023.

Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the global Liquid Smoke Market owing to the rise in food & beverage, rising barbeques, increasing use of meat, increasing acquisitions and mergers, rising R&D and increasing product launches. For instance, in October 26, 2018, Kerry Groupe entered an acquisition with AATCO Food Industries LLC. and Fleischmann’s Vinegar Company Inc.

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