Liquid Smoke Market Scope
Liquid smoke is defined as the water-soluble yellow to red liquid which is used for flavoring. It is usually available in red and yellow colors. It is produced by combustion of hardwood namely maple, beech, oak and hickory. It is mainly used as a substitute for cooking with wood smoke. In addition, it is also used to flavor any meat or vegetable. Rising consumer looking for smoked food items, namely barbeque flavor and sauces, rising purchasing power in certain countries in regions, namely North America, Western Europe and Eastern Europe and presence of a large number of plants of processed food in the North America region are some of the major drivers which are propelling the growth of the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Ruitenberg Ingredients (Netherlands), Besmoke Ltd (United Kingdom), Red Arrow International (United Kingdom), Redbrook Ingredient Services Ltd. (United Kingdom), Kerry Group (Ireland), Baumer Foods (United States), B&G Foods (United States), Colgin (United States), Azelis SA., (India) and MSK Ingredients Ltd., (United Kingdom) |
CAGR | 8.3% |
The market is fragmented with numerous players focusing on technique and quality of the product due to which the global liquid smoke market can witness an upsurge in the forecast period. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Liquid Smoke market throughout the predicted period.
Ruitenberg Ingredients (Netherlands), Besmoke Ltd (United Kingdom), Red Arrow International (United Kingdom), Redbrook Ingredient Services Ltd. (United Kingdom), Kerry Group (Ireland), Baumer Foods (United States), B&G Foods (United States), Colgin (United States), Azelis SA., (India) and MSK Ingredients Ltd., (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Frutarom Savory Solutions Gmbh (Austria).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Liquid Smoke market by Type , by Application (Seafood & Meat, Sauces, Dairy, Pet Food & Treats and Others) and Region with country level break-up.
On the basis of geography, the market of Liquid Smoke has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In May 2021, Blend with PS expanded its line of deli sauces and marinades with new BBQ sauces. The flavors of these sauces are influenced by regional and trendy flavors such as spicy Memphis, Door County Cherry and Peach Whiskey.
In 2021, Azelis opend a new extraction and distillation plant to produce smoke flavors, in Denmark. Azelis Holding SA (Azelis) is a distributor of specialty chemicals and ingredients. The company distributes chemical products used in several industries including materials, pigments and additives, plastic polymers, rubber, composites, personal care, pharmaceuticals, speciality agriculture, wood preservation, environment, glass, ceramics and refractory, tobacco food and health, and animal nutrition.
Influencing Trend:
Rising Consumer Preference for Smoked Food Products Namely Smoked Sausages and Salmons and Technological Advancements Related to Food Processing Industries
Market Growth Drivers:
Rising Applications of the Liquid Smoke in Order to add Different Flavors, Increasing Pet Ownership and Increasing Number of Processed Food Plants and Lowered Total Cost of Using Liquid Smoke than Conventional Methods
Challenges:
High Prices of Liquid Smoke Products
Restraints:
Few Health Risks Associated with the Consumption of Smoked Food and Various alternatives are available in the market namely smoked salts and sugars
Opportunities:
Growing demand from emerging economics such as India, China and others and Rising Consumption of Smoky Flavors in Food Items
Key Target Audience
Manufacturers of Liquid Smoke, Suppliers of Liquid Smoke, Wholesalers, Distributors and Retailers of Liquid Smoke, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others