Middle East and Africa Meat Extract Market, By Product (Beef Extract, Pork Extract, Chicken Extract, Fish Extract, Lamb Extract, Other Meat Extracts), Type (Stock, Extract), Form (Powder, Paste, Liquid), Function (Flavoring Agent, Preparation of Culture Media, and Others), Category (Conventional, Organic), Application (Food & Beverage, Pharmaceutical/Laboratory Research), Country (South Africa, U.A.E, Saudi Arabia, Kuwait, Oman, Qatar & Rest of the Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights : Middle East and Africa Meat Extract Market
Middle East and Africa meat extract market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 5.2% in the forecast period of 2022 to 2029 and is expected to reach USD 1,282.91 million by 2029. The growing demand for meat extract products in the food and beverage industries is expected to drive the growth of the Middle East and Africa meat extract market.
Meat extract contains the concentrated essence of meat. It is a rich form of meat stock obtained from animal sources such as beef, chicken, pork, seafood, and others. Meat extract is enriched with protein content and offers various health benefits such as boosting immune health, building and repairing healthy muscle, bones, skin and blood cells, and others. It is widely used for both industrial and commercial purposes. It acts as a flavoring agent for making processed food and beverages by improving the taste and flavor of the food. It is also used in biological research for culture media preparation and other purposes like industrial fermentation, analytical microbiology, and others.
Meat extracts are of two types, stock and extract, used as a flavoring agent, prepare culture media, and other purposes. The growing demand for the high nutritional value of meat extracts coupled with extensive use of meat extract in microbiology to grow culture media is anticipated to propel the growth of the Middle East and Africa meat extract market. However, stringent regulations laid by governmental bodies may hamper the market's growth.
Growing demand for protein-rich products is projected to create immense opportunities for meat extract manufacturers, whereas high competition among market players may challenge the market's growth.
The Middle East and Africa meat extract market report provide details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the Middle East and Africa meat extract market scenario, contact Data Bridge Market Research for an Analyst Brief; our team will help you create a revenue impact solution to achieve your desired goal.
Middle East and Africa Meat Extract Market Scope and Market Size
Middle East and Africa meat extract market is segmented based on product, type, form, function, category, and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the Middle East and Africa meat extract market is segmented into beef extract, pork extract, chicken extract, fish extract, lamb extract, and other meat extracts. In 2022, the beef extract segment is expected to dominate the Middle East and Africa meat extract market as beef meat and beef products are among the most commonly consumed food products in the region.
- On the basis of type, the Middle East and Africa meat extract market is segmented into stock and extract. In 2022, the stock segment is expected to dominate the Middle East and Africa meat extract market in the food & beverages industry stock to enhance the flavor of products, therefore boosting the growing foodservice sectors in the region.
- On the basis of form, the Middle East and Africa meat extract market is segmented into powder, paste, and liquid. In 2022, the powder segment is expected to dominate the Middle East and Africa meat extract market due to the growing demand as they are easy to handle and can be stored for a longer period.
- On the basis of function, the Middle East and Africa meat extract market is segmented into flavoring agent, preparation of culture media, and others. In 2022, the flavoring agent segment is expected to dominate the Middle East and Africa meat extract market as flavor enhances the taste of the product to which it is added and elevates its nutritional value.
- On the basis of category, the Middle East and Africa meat extract market is segmented into organic and conventional. In 2022, the conventional segment is expected to dominate the Middle East and Africa meat extract market as they have lower prices than organic meat extract products and are more functional as they can be used to prepare culture media and flavoring agents many more.
- On the basis of application, the Middle East and Africa meat extract market is segmented into food & beverage and pharmaceutical/laboratory research. In 2022, the food & beverage segment is expected to dominate the Middle East and Africa meat extract market as food is the largest growing sector as there is a surging demand for meat extract as a flavoring agent among food manufacturers, commercial consumers, and others to enhance their food product.
Middle East and Africa Meat Extract Market Country Level Analysis
Middle East and Africa meat extract market is analyzed, and market size information is provided by the country, product, type, form, function, category, and application as referenced above.
Some of the countries covered in the Middle East and Africa meat extract market report are South Africa, U.A.E, Saudi Arabia, Kuwait, Oman, Qatar & Rest of the Middle East and Africa. South Africa is expected to dominate the Middle East and Africa meat extract market because of the growing foodservice industry in the region. UAE is expected to dominate the region due to strategic alliances among key manufacturers, while Saudi Arabia is expected to dominate because of the growing high protein-rich nutrient contained in the products.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of the Middle East and African brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Growing Strategic Activities by Major Market Players is Boosting the Middle East and Africa Meat Extract Market Growth
The Middle East and Africa meat extract market also provide you with detailed market analysis for every country's growth in a particular market. Additionally, it provides detailed information regarding the market players’ strategy and geographical presence. The data is available for the historical period 2011 to 2020.
Competitive Landscape and Middle East and Africa Meat Extract Market Share Analysis
The Middle East and Africa meat extract market competitive landscape provide details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width, and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to the Middle East and Africa meat extract market.
Some of the major companies in the Middle East and Africa meat extract market are Kerry, Thermo Fisher Scientific Inc., BD, MP BIOMEDICALS, Essentia Protein Solutions, among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many contracts and agreements are also initiated by the companies worldwide, which also accelerates the Middle East and Africa meat extract market.
For instance,
- In July 2018, Thermo Fisher Scientific Inc. got ISO 9001:2015 certified. This certification represents the effective quality management system of the company, and the certification aims to enhance customer satisfaction
- In June 2021, Essentia Protein Solutions launched a new product named Essentia C3307 Chicken Flavor to enhance the multi-species ProFlavor line. The new flavor is high in protein, low in carbs, and has no added salt
Collaboration, product launch, business expansion, award and recognition, joint ventures, and other strategies by the market player enhance the company's footprints in the Middle East and Africa meat extract market, which also benefits the organization’s profit growth.
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