Smoke Ingredients for Food Market size is estimated to reach $436.7 Million by 2025, growing at a CAGR of 7.6% during the forecast period 2020-2025. Smoking is a process used for browning, cooking, preserving food, and adding flavour to food products by exposing to smoke. The smoke ingredients are highly used to smoke food products such as fish, meat, fish, and others. Vines, smouldering hardwood chips, herbs, fruit skins, spices, produce the smoke. The smoke used affect aroma, flavours, appearance, texture, and helps in enhancing shelf life of foods. The process take place at temperatures ranging from approximately 65°F to 250°F. The various types of smoke used for food products are cold smoking, warm smoking, hot smoking, liquid smoke, and smoke roasting. This helps to optimize production and improve characteristics like variation in flavour, for different batch in manufacturing units. During the barbequing and grilling there is the chance of food burning but on usage of smoke ingredients this issue can be solved, thus increasing the demand for the product. It further helps the food manufacturers in optimizing their production, enhancing product characteristics and avoiding batch to batch variation as these ingredients speed up the Maillard reaction and thus developing attractive colour and generate roasted type flavours.
By Type - Segment Analysis
By type, global Smoke Ingredients for Food Market is segmented into powder, liquid, oil and others. The liquid segment registered for the highest market share in 2019 and is set to continue for the forecast period (2020-2025). The segment is set to emerge owing to characteristics like high solubility in water, and easy handling, which makes the liquid ingredients most preferred ones among the consumers. Oil is set to register with highest CAGR growth of 8.2% in the forecast period (2020-2025), owing to its use in different industries. Food & Beverage companies also makes use of smoked oils in fish fry flavored merchandise, which is likely to become popular globally.
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By Application - Segment Analysis
The Application segment of Smoke Ingredients for Food Market is segmented into meat and seafood, snacks & sauces, bakery & confectionery, dairy products and others. The meat and seafood segments registers for the highest market share in 2019 and is set to continue for the forecast period (2020-2025). Increase in consumption of meat and seafood related products, coupled with the change in food habits are the main reasons resulting in the increase in the market share of this segment. The market share of the bakery & confectionery segment is set to increase with highest CAGR during the forecast period 2020-2025. This change is owing to the availability of liquid-based smoke with high solubility and easy to use properties in this segment.
By Geography - Segment Analysis
North America dominated the global Smoke Ingredients for Food Market with 34% market share in terms of revenue in 2019. North America holds largest market share owing to increase in consumption of ready to go food products. The market in Europe is estimated to be in maturity; on the other hand, Asia-Pacific is set to be an emerging market, owing to the combined increase in consumer adoption rate and disposable income of the consumers in this region.
Drivers – Smoke Ingredients for Food Market
High Preference for Smoked Food
The demand for Smoke Ingredients for Food is driving forward owing to the increase in the consumption of smoked food items, such as barbeque sauces and flavors. Besides, the beneficial properties like easy handling and solubility in water are acting as drivers for supporting the growth of the Smoke Ingredients for Food market. Increasing consumers’ preference for smoke ingredients and the ready availability of smoke ingredients in retail stores and hypermarkets/supermarkets are also anticipated to drive the growth of the smoke ingredients market over the forecast period 2020-2025.
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Challenges – Smoke Ingredients for Food Market
Health Risks
The consumption of smoked food has different health risks, as the smoke contains a number of chemicals that cause cancer. Besides, the smoke ingredients are not as purified or condensed as smoke flavors that are currently available in the market. These are the challenges in the growth of market for the forecast period 2020-2025.
Smoke Ingredients for Food Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Smoke Ingredients for Food Market. Key companies of this market are Azelis, Dempsey Corporation, Besmoke, Kerry Ingredients, Frutarom Savory Solutions GmbH, Redbrook Ingredient Services, Red Arrow, WIBERG GmbH, B&G Foods Inc, and Associated British Foods plc.
Key Takeaways
Geographically, North America’s Smoke Ingredients for Food market accounted for the highest revenue share in 2019 and it is poised to dominate during the forecast period 2020-2025 owing to the high demand and ease of availability at normal retail stores or hypermarkets/supermarkets.
By form, Liquid segmented dominated the smoke ingredients for food market in 2019 owing to its diversity in application and preservative potential.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the smoke ingredients for food Market report.
Concerns regarding the health effects owing to its carcinogenic nature is ought to act as challenge to hamper the growth for the forecast period 2020-2025.
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