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Beef Extract Market Trends

Report ID: GMI7785
Published Date: Jul 2024
Report Format: PDF

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Beef Extract Market Trends

The beef extract industry is currently witnessing transformative trends, with notable figures shaping its dynamics. A significant trend involves the rising demand for clean label and natural ingredients, driven by consumers seeking transparency in food products. This has resulted in a considerable preference for beef extracts as natural flavor enhancers. The market is experiencing innovation, with manufacturers focusing on new applications, catering to evolving consumer tastes. Health considerations, emphasizing the nutritional benefits of beef extracts such as protein content and amino acids, are influencing market dynamics.

Additionally, globalization is playing a pivotal role, as the integration of beef extracts into diverse global cuisines contributes to the market's expansion. With the industry evolving, these trends, backed by figures such as the expected global protein supplements market reaching USD 35.8 billion by 2027, are set to influence product development, marketing strategies, and overall market growth in the coming years.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of beef extract reached USD 16.81 billion in 2023 and is set to cross USD 27.02 billion by 2032, owing to the rising demand for concentrated liquid or powder extracts derived from beef for flavor enhancement worldwide.

Beef extract industry from the powdered beef extracts segment reached USD 9.69 billion in 2023, due to its heavy usage in pharmaceutical, cosmetic and food manufacturing industries.

The U.S. market was valued at USD 4.35 billion in 2023, attributed to a well-established food and beverage industry, and a growing demand for flavor-enhancing ingredients in the country.

Diana Group, Givaudan, JBS S.A., Maverick Biosciences Pty Ltd, Nippon Ham Group, Titan Biotech Limited, Proliant Biologicals, LLC, Kanegrade Ltd, A. Costantino & C. S.P.A, Abbexa Ltd, Alpha Biosciences, Inc., and BD Biosciences, are some of the beef extract companies worldwide.