Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Liquid Smoke Market Size is Estimated to Grow from USD 80.21 Million in 2023 to USD 145.27 Million by 2033, Growing at a CAGR of 6.12% during the forecast period 2023-2033.
Browse key industry insights spread across 215 pages with 110 Market data tables and figures & charts from the report on the Global Liquid Smoke Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Applewood, Hickory, Mesquite, and Others), By Application (Sauces, Meat Products, Bakery/Confectionery, Marinades, and Others), By Distribution Channel (Supermarkets & Hypermarkets, Online Stores, Convenience Stores, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
The market for liquid smoke products used in the food, dairy, and animal feed industries is known as the global liquid smoke market. The market's expansion is mostly being driven by growing applications in a variety of industries, such as dairy, animal feed, food manufacturing, and others. Demand is predicted to increase due to a spike in demand for food products related to meat, poultry, seafood, seasonings, sauces, snacks, etc. Families increased disposable income and shifting lifestyles have fueled the food service sector's expansion in recent years. The food service industry has seen an increase in the use of liquid smoke due to the growing emphasis on customer engagement and retention by service providers, the growing importance of aesthetic value additions in the food service industry, and ease of availability. The liquid smoke market is seeing a lot of growth prospects due to commercial customers' use and restaurants' increasing desire for upscale dining experiences and improved food services related to various culinary passions. For a variety of reasons, such as improved color and freshness, liquid smoke is also often used in cooking activities. It is also preferred by commercial users as a clean-label preservative. This product's increasing use in a variety of application areas is also a result of its affordability. However, supply chain disruptions have also had an impact on the product's availability in the global marketplace.
The hickory segment accounted for the largest share of 32.20% in 2023 and is anticipated to grow at a CAGR of 4.28% during the forecast period.
Based on the product type, the global liquid smoke market is categorized into applewood, hickory, mesquite, and others. Among these, the hickory segment accounted for the largest share of 32.20% in 2023 and is anticipated to grow at a CAGR of 4.28% during the forecast period. This discovery highlights the unique affinity that customers have for the deep and strong smokiness that Hickory offers. Hickory's popularity is not just evidence of its widespread use, but also of its acceptability as the preferred liquid smoke form. It has established itself as a kitchen mainstay because of its rich and savory profile, providing both home cooks and chefs with a flexible way to add a wonderful smokiness to a variety of meals. Hickory's popularity in the market indicates a sophisticated awareness of consumer taste preferences.
The meat products segment held the highest market share of 30.17% in 2023 and is estimated to grow at a significant CAGR throughout the projection period.
Based on the application, the global liquid smoke market is classified into sauces, meat products, bakery/confectionery, marinades, and others. Among these, the meat products segment held the highest market share of 30.17% in 2023 and is estimated to grow at a significant CAGR throughout the projection period. This market is primarily driven by the advantages that meat sellers receive from the product, including increased warmth, longer shelf life, and more. Participants in the meat industry also use liquid smoke to add flavor, texture or color improvements, and authenticity, and it is essential as an effective antimicrobial agent against a variety of bacterial pathogens. The market is growing due to the high demand for packaged, processed, frozen, and other meat products, as well as the use of advanced technologies, evolving processes, and rising urban consumer demand for ready-to-cook or ready-to-make products.
The supermarkets & hypermarkets segment held the largest share of 42.26% in 2023 and is estimated to grow at a significant CAGR throughout the projection period.
Based on the distribution channel, the global liquid smoke market is divided into supermarkets & hypermarkets, online stores, convenience stores, and others. Among these, the supermarkets & hypermarkets segment held the largest share of 42.26% in 2023 and is estimated to grow at a significant CAGR throughout the projection period. The importance of these massive retail establishments in making liquid smoke more accessible and available to customers is highlighted here. The thoughtful placement of liquid smoke, a culinary enhancer, in mainstream retail environments is highlighted by its prominence in supermarkets and hypermarkets. Customers' broad acceptance of liquid smoke is facilitated by the ease and vast reach provided by these retail behemoths. Supermarkets and hypermarkets' popularity as the main distribution channels shows that liquid smoke is in line with the tastes and purchasing patterns of a wide range of customers.
North America is expected to hold the largest share of the global liquid smoke market through the forecast period.
North America is expected to hold the largest share of the global liquid smoke market through the forecast period. Increasing demand for smokey flavored meat goods, dairy products, sauces, and pet foods because of the increased disposal income, changes in lifestyles, and the introduction of novel products are the primary factors predicted to fuel the growth of the market in the area over the forecast period. Red Arrow International and Colgin are a few key players and producers of liquid smoke in the region. Furthermore, North America is the world's largest producer and user of liquid smoke products, with about 40 processed meat facilities used extensively in this region.
Asia Pacific is predicted to grow at the fastest CAGR of the global liquid smoke market over the forecast period. Growing demand for packaged or processed food offerings is anticipated to drive this market's growth, and the presence of highly populated countries such as China and India includes an abundance of growth opportunities. The region's dining and food services industry is also expanding, and urban consumers' increased meat consumption is contributing to the market's rising demand for liquid smoke.
Company Profiling
Major key players in the global liquid smoke market include Red Arrow International LLC, Kerry Group plc, Baumer Foods Inc., Ruitenberg Ingredients B.V., Colgin, Inc., MSK Ingredients, International Flavors & Fragrances Inc., Bespoke Ltd., Azelis, B&G Foods Inc., and others.
Recent Development
Key Target Audience
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global liquid smoke market based on the below-mentioned segments:
Global Liquid Smoke Market, By Product Type
Global Liquid Smoke Market, By Application
Global Liquid Smoke Market, By Distribution Channel
Global Liquid Smoke Market, By Regional Analysis
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