Changes in Functional Meat Ingredients Market Revenue and growth rate during COVID-19 crisis

Functional Meat Ingredients Market: Overview

In the past few decades, the world wide consumption and production of meat have increased rapidly and, in many parts of the world, the per capita consumption of meat is continuing to grow. However, regions like North America, as well as Europe, are gradually losing market shares, whereas regions like Latin America and Southeast Asia have become new centers of production and consumption. Reasons for the success of meat products are: i) the healthy image of the product, mainly due to the high protein/ low-fat content coupled with a balanced n-6 to n-3 PUFA ratio; ii) the increased availability of further processed products (ready-to-cook, ready-to-eat products) which can be conveniently prepared at home without time-consuming preparation; iii) lower price in respect to red meats. the Different types of functional ingredients in the forms of inorganic salts (i.e. sodium chloride, phosphates, and bicarbonate) and organic compounds mainly from plant and animal origins have been introduced to meet broad sensory and technological requirements of processed meat producers and consumers. Lactates and phosphates are both ingredient families established as “generally recognized as safe” (GRAS) by the US Food and Drug Administration (FDA), which shares responsibility with the Food Safety and Inspection Service (FSIS) of the US Dept. of Agriculture (USDA) when it comes to ingredients intended for meat and poultry. It is the latter that regulates usage of the ingredients in specific applications.

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Functional Meat Ingredients Market: Drivers & Restraints

The key factors which are boosting the growth of Functional Meat Ingredients are the consumption of processed food. Also, the driving factor for functional meat ingredient is usage in organic meat products, the organic poultry market is growing at a considerable rate. Increase in consumption of meat products in Latin America and South East Asia has further fuelled the functional meat ingredients market. Rising demand for pork meat, greater emphasis the on processed meat and poultry products, the rise in consumer preference toward protein-rich food has been the driving factor of functional meat ingredient market. Few of the factors which have affected the functional meat ingredient market is perceived health risk of eating meat. As the USDA and other government agencies have put more energy toward promoting healthy lifestyles new regulations and with the increasing expectation the supply of processed meat can be affected in turn affecting the Functional Meat Ingredients market.

Functional meat ingredients Market: Market Segmentation    

Functional meat ingredients market is segmented into four parts based on the types, industrial application, end users type, and geography.

Based on the type Functional meat ingredients market is segmented into:

•    Cereal Flours

•    Hydrocolloids

•    Proteins from animal sources

•    Protein from vegetable sources

•    Vegetable fibers

Based on the Industrial application Functional meat ingredients market is segmented into:

•    Food and Beverages

Based on the end use Functional meat ingredients market is segmented into:

•    Hospitality

•    Packaged Food Industry

Functional Meat Ingredients Market: Regional Outlook

Regarding geography, Functional meat ingredient market has been categorized into six key regions including North America, Europe, APEJ, Japan, Latin America, and the Middle East & Africa. Functional meat ingredients market is expected to register healthy CAGR during the forecast period due to the high demand of protein-rich food In terms of regions, North America accounts for significant share for Functional meat ingredients market, owing to the high growth and demand for healthy eating regime in the region as compared to other developed regions. Moreover, the North America region accounts for healthy share in terms of consumption of meat products, Functional meat ingredients being primarily used for development of poultry products for further processed products because of its bland flavor and soft texture which allow producers to impart desired flavor profiles, the meat consumption in the region is anticipated to further add value to the Functional meat ingredients market in the region. In terms of developing region of Asia-Pacific, the growth of the Functional meat ingredients is significantly high and with comparatively high CAGR in forecast period owed to factors such as such as rapid economic development, globalization and increasing demand of the Functional meat ingredients in food & beverages industry and its sub-verticals, and high usage of the In addition, Over the forecast period, Asia-Pacific market for functional meat ingredients is anticipated to grow significantly owing to the growth of QSR and FSR sector in the region. Overall, the global market for Functional meat ingredients is expected to grow significantly by the end of forecast period. Functional meat ingredients market for the Asia Pacific is also expected to witness rapid growth during the forecast period primarily attributed to the growth of food and beverage industry, especially in China and India. The Functional meat ingredients market is growing at a faster rate and is expected to grow at high CAGR in forecasted years.

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Functional meat ingredients Market: Few Players

Few players identified in Functional meat ingredients market are:-

•    Associated British Foods PLC

•    Kerry Group PLC

•    Wiberg GmbH

•    Campus SRL

•    Proliant Meat Ingredients

•    Wenda Ingredients


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