Liquid Smoke Market Size, Share Trends, Sector / Industry Report & Analysis, 2019-2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Liquid Smoke Market

 
The global liquid smoke market size was valued at USD 56.5 million in 2018. Rising awareness of liquid smoke products that improves the shelf life of food products without grilling or roasting and adds flavor to them is expected to remain a favorable factor. In addition, rise in purchasing power of the working class population in the developing economies including China, India, and Brazil is empowering the consumers to increase their spending on liquid smoke products.
Over the past few years, the processed food manufacturing companies have been increasing spending on the incorporation of liquid smoke as functional ingredients in the formulation of meats, poultry products, seafood, sauces, seasonings, crackers, and breads. Many consumers have started perceiving these products as a taste enhancing food item, which can be consumed with no side effects.
 
One of the significant applications of liquid smoke product is to replace direct smoking of food with on-site generated smoke from wood. This has caused a significant rise in the demand for this product across the globe. Liquid smoke is usually applied topically to give the desired and functional effect of smoke to the food products.
The quality of these products to bring the smoky taste and aroma in various recipes is making them very popular in developed countries including Germany and U.K. Furthermore, consumer inclination is shifting towards buying premium smoked food products that include smoked salmon and sausages on a global level. Whereas, the traditional method of smoking meat products is expected to be a challenging factor.

Market Segmentation, Outlook & Viewpoint: Global Liquid Smoke Market


Application Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Meat Products

Sauces

Dairy Products

Pet Food

Others


Key Players, Recent Developments & Regional Insights: Global Liquid Smoke Market

 
Meats products dominated the market with more than 30.0% share in 2018. The exact imitation of onsite-generated smoke from wood integrated in liquid smoke product makes them a popular application among the consumers of meat products. Booming meat-processing industry, evolving new processes, and growing applications of liquid smoke solutions is driving the segment. This similar trend is also observed in many recipes from which sauces are prepared. Incorporation of these products into sauces to enhance flavor such as barbeque, dry seasoning, or combining new flavors is a key driving factor.
Liquid smoke is also used in dairy products including cheese to impart natural smoky flavor to it rather than actually smoking the cheese. These liquids have found their utility in pet foods, wherein the key concern of the owners is to provide their pets with best food care, thereby driving the demand for liquid smoke. The aqueous smoke solutions have gained momentum in terms of demand due to their use in complex food processing such as extraction into oil, plating onto foods, and food ingredients that include yeast, malt flour, or salt.
Furthermore, these products are considered to have an important role in seed germination, microbial control, plant structure enhancement, and pest control. Other claims such as livestock benefits that include antimicrobial preservation of feed and nutrient digestibility have been found. Other benefits offered by these liquids in the field of agriculture are soil quality improvement, healthier foliage, and better seed germination. Medical benefits such as dental infections, digestive ailments, skin ailments, heart, eyes, liver, and ears are offered by these products. Such wide applications of liquid smoke products are fueling the demand for these products in the market.

Regional Insights
As of 2018, North America dominated the market and accounted for 35.1% share of the total revenue. Demand for smoky flavored meat products, sauces, dairy, and pet food products has grown significantly, which, in turn, has pushed the industry forward in this region. Red Arrow International LLC and Colgin are some of the leading producers of liquid smoke in this region. Moreover, North America has more than thirty-five processed meat plants that use liquid smoke in bulk quantity, which makes it the largest producer and consumer across the globe.
 
Europe holds a significant share in the industry and is expected to register a CAGR of 7.6% from 2019 to 2025. Key markets of this region include France, Germany, U.K., and Spain. Growing revenue of this industry is enticing the manufacturers to invest in the R&D sector of this industry, thereby boosting the liquid smoke market growth. Comparatively high spending power is also driving the market in this region. Over the past few years, consumer preference has been shifting towards these products as they are exact replica of smoky flavor obtained by smoking actual wood and can be useful in many food products.
Asia Pacific is the fastest growing region with a CAGR of 8.5% from 2019 to 2025. Factors including rise in purchasing power, developing economies, and usage of liquid smoke in several meat products and other recipes are expected to propel the growth of market in this region. Moreover, presence of companies like Kerry, Azelis, and Besmoke is pushing the liquid smoke market growth.
Liquid Smoke Market Share Insights
Key players in this market include Red Arrow International LLC; Baumer Foods Inc.; Azelis SA; B&G Foods Inc.; Ruteinberg Ingredients BV; Colgin; Kerry Groupe PLC; MSK Ingredients; Redbrook Ingredients Services Ltd.; and Besmoke Ltd. Red Arrow International and Baumer Foods are the leading manufacturers of the global industry. On October 26, 2018, Kerry Groupe announced that it has reached an agreement to acquire AATCO Food Industries LLC. and Fleischmann’s Vinegar Company Inc.

Key Insights Covered: Global Liquid Smoke Market
1.  North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Liquid Smoke industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Liquid Smoke industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Liquid Smoke industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Liquid Smoke industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Liquid Smoke industry.

Research Methodology: Global Liquid Smoke Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
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