In terms of revenue, the global liquid smoke market is estimated to register a CAGR of 7.8% over the forecast period, owing to numerous factors, about which Future Market Insights offers thorough insights and forecasts in the report. Factors such as rising purchasing power in certain countries in regions such as North America, Western Europe and Eastern Europe along with growing pet ownership is anticipated to surge the demand for liquid smoke market during the forecast period.
By application, meat and seafood segment is expected to witness highest growth the global liquid smoke market. Owning to rapidly increasing population and rampant westernization across developing regions such as APAC, there is a rising consumption of meat products worldwide. Meat and seafood segment is expected to reach a value of nearly US$ 118 Mn by 2027 end. By distribution channel, hypermarket/supermarket segment is estimated to account for a significant revenue share of 55.6% in 2017 and is expected to register significant growth rate during the forecast period.
Rising consumption of meat products around the world is boosting the global liquid smoke market
Rapidly increasing population and rampant westernization across developing regions such as APAC is leading to rising consumption of meat products. This in turn, is projected to increase uptake of processed meat products, thus boosting demand for liquid smoke for imparting flavour and preservation. Moreover, processed food manufacturers are focusing on investing in expansion of existing production plants and setting up of new plants to increase production of processed food such as meat and seafood products. This in turn, is expected to boost demand for liquid smoke that is used to add a distinct flavour in certain processed food products.
Rising trend of pet humanisation, wherein pet owners treat their pets like family members, is driving spending on premium pet care and pet food products. This trend, especially prevalent in North America and Europe is expected to boost demand for premium pet food. This in turn, is anticipated to boost growth of the pet food and treats segment in the global liquid smoke market. However, certain processed meat manufacturers still prefer the conventional method of smoking meat products, as it imparts a strong flavour to food, especially meat products such as beef and pork. It also gives it a distinct texture. This is expected to inhibit growth of the liquid smoke market to a certain extent.
Global Liquid Smoke Market Size Forecast by Region
In this report, the global liquid smoke market has been segmented into seven major regions, namely North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa (MEA). This report assesses trends driving growth of each segment on the global level and offers potential takeaways that could prove substantially useful to liquid smoke manufacturers looking to enter the market. North America market has been estimated to dominate the liquid smoke market, accounting for maximum revenue share of the market by 2017 end. Collectively, North America and Western Europe markets are expected to account for over 41.6% revenue share of the global liquid smoke market by 2017 end. Japan is estimated to exhibit a significant CAGR of 7.5% over the forecast period.
North America liquid smoke market was estimated to be valued at nearly US$ 17 Mn in the year 2017 and is anticipated to touch a valuation of nearly US$ 33 Mn in 2027, exhibiting a CAGR of 7.2% during the period of assessment. Western Europe liquid smoke market was estimated to be valued at nearly US$ 15 Mn in 2017 and is slated to reach a valuation of nearly US$ 30 Mn in 2027, displaying a CAGR of 7.1% during the period of forecast.
In this report, a 10 year forecast of the global liquid smoke market is offered between 2017 and 2027. The current study reveals the market trends and market dynamics in all seven regions that are expected to positively affect the current market environment and future scenario of the liquid smoke market over the forecast period.
This report inspects the liquid smoke market for the period 2017–2027. The prime objective of this report is to offer insights into developments in the liquid smoke market that are gradually helping transform global businesses associated with the same.
The global liquid smoke market report begins by the executive summary and defining various categories and their share in the liquid smoke market. It is followed by market dynamics, overview of the global liquid smoke market, which includes analysis of market drivers, restraints, opportunities and trends that are affecting growth of the liquid smoke market. Furthermore, to understand the popularity of the market segment and regions, the attractiveness index with elaborated insights on the same is provided, which will show the market’s attractiveness based on the factors such as CAGR and incremental opportunity.
The liquid smoke market is segmented based on application, distribution channel, and region. On the basis of application the market is segmented in to meat and seafood, sauces, pet food and treats, dairy, and others. The next section of the report highlights the liquid smoke market, by region, and provides the market outlook for 2017–2027. The study investigates the market attractiveness regionally, as well as analyses the limit to which the trends are influencing the liquid smoke market in each region. Main regions assessed in this report include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa (MEA).
In the final section of the report on liquid smoke, the ‘dashboard view’ of the companies is provided to compare the current industrial scenario and their contribution in total liquid smoke market. Moreover, it is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment. Report audiences can gain segment-specific manufacturer insights to identify and evaluate key competitors based on the in-depth assessment of their capabilities and success in the liquid smoke marketplace. Detailed profiles of liquid smoke production companies are also included in the report to evaluate their long– and short–term strategies, key product offerings and recent developments in the liquid smoke market.
To ascertain the liquid smoke market size, we have also taken into account the revenue generated by the various manufacturers. The forecast presented here assesses the total revenue generated by value, across the liquid smoke market. In order to provide an accurate forecast, we initiated by sizing up the current market, which forms the basis on how the liquid smoke market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome on the basis of three different types of analysis; based on supply side, downstream industry demand and the economic envelope. In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the market based on key parameters, such as year-on-year (Y-o-Y) growth rates, to understand the predictability of the liquid smoke market and identify the right opportunities across the market.
The liquid smoke segments based on application, distribution channel, and region, have been analysed in terms of basis point share (BPS) to understand the individual segment’s relative contributions to market growth. This detailed level of information is important for identifying various key trends in the liquid smoke market. Another key feature of this report is the analysis of key segments in terms of absolute dollar opportunity. This is overlooked while forecasting the market. However, absolute dollar opportunity is critical for evaluating the scope of opportunity that a provider can look to achieve, as well as to identify potential resources from a delivery perspective of the liquid smoke market. The overall absolute dollar opportunity along with the segmental split is mentioned in the report.
To understand key growth segments in terms of growth and adoption for liquid smoke globally, Future Market Insights developed the liquid smoke market ‘attractiveness index.’ The resulting index should help providers identify real market opportunities.