Liquid smoke is a flavour that is mostly used to give smokey fragrance to various cuisines. It is most frequently found in the yellow and red colour. Additionally, it extends the shelf life of food products, particularly meat and seafood. It is often created by condensing the chemicals and smoke from wood combustion. Dishes like marinades, barbecue sauces, and foods with a "barbecue" flavour commonly incorporate liquid smoke. It is tastes like smoke and available with various flavours such as mesquite, hickory, and pecan. Additionally, it is utilised as a substitute for bacon-flavoured foods that employ cured pork.
According to the Invest India, the processed food market is anticipated to increase from US$ 322 billion in 2016 to US$ 543 billion by 2020, at a CAGR of 14.6%. Fruits and vegetables, dairy, fisheries, poultry and meat processing, food retail, etc. are all part of the food processing industry. Therefore, the growing processed food industry is propelling the liquid smoke market growth. It is anticipated that rising demand for meat products in the US will propel the market expansion for liquid smoke. The meat and poultry industries are the largest sector of American agriculture, according to the North American Meat Institute. 52 billion pounds’ worth of beef and 48 billion pounds’ worth of poultry were produced in the nation in 2017. Therefore, it is anticipated that rising consumer demand for meat products will accelerate liquid smoke market expansion.
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The global liquid smoke market is expected to reach a market valuation of US$ 103 million in 2023, accelerating at a CAGR of 11.7% throughout the forecast period. By 2033, the overall market size is projected to reach US$ 252 million. Increasing adoption of liquid smoke equipment among major players to lower the overall cost of production is expected to bring significant growth opportunities to the liquid smoke market. Using advanced equipment has less impact on the environment and is also more cost effective compared to traditional smoking methods. Furthermore, increasing adoption of liquid smoke in various cheese products will benefit the growth of the liquid smoke market during the forecast period. Various dairy manufacturers are using liquid flavourings in cheese products such as provolone, mozzarella and scamorza to expand their range of smoked cheese products. For example, in November 2018 Norseland introduced Applewood Vegan Smoked Cheese.
The competitive landscape of the global liquid smoke market is fragmented owing to the presence of many major players operating at the global and regional level. Leading companies are involved in product development and strategic alliances to expand their respective product portfolios and gain strong positions in the global market. Major companies in the liquid smoke market include Azelis S.A., B&G Foods, Inc, Baumer Foods, Besmoke Ltd., Colgin, Inc, Kerry Group, Plc, McCormick & Company, Inc, Msk Ingredient Ltd, Ps Seasoning, Red Arrow International, Redbrook Ingredient Services Ltd., Ruitenberg Ingredients B.V., Smoked Flavours Pty Ltd, Urban Platter, Other Players.
In terms of type, the global liquid smoke market is bifurcated into hickory, mesquite, applewood, and others. In terms of application, the global liquid smoke market is bifurcated into meat products, sauces, seafood, dairy products, bakery/confectionery, pet food, and others.
In terms of distribution channel, the global liquid smoke market is bifurcated into hypermarkets/supermarkets, convenience stores, e-commerce, and others. By region, the global liquid smoke market is bifurcated into North America, Europe, Asia-Pacific, Central and South America, and the Middle East and Africa.
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