The higher nutritional content in beef extract has raised the demand of the same in the global meat extract market. The demand for beef extract is increasing due to its various applications in culinary, as it imparts a vibrant aroma to cooked food, thus enhancing the overall flavour and fragrance of dishes.
In the global meat extract market, the demand for beef extract is increasing owing to its different healthy components such as organic acids, peptides & amino acids, nucleotides, vitamins and some minerals. Beef extract is also utilised in various microbiological culture media, where it complements the energy source for growing bacteria in the culture media. It is obtained by the infusion of beef, owing to which it contains all the nutritional content that is normally destroyed during the cooking of beef due to heat. In the global beef extract market, the demand for beef extract is the highest from Latin America, Europe and African countries. Due to an increase in the demand for this product, investors who have invested in this market can expect high returns in the near future.
Increasing demand for beef extract in biological research laboratories, food and feed industries:-
Globally, the demand of the beef extract is increasing for use in food and feed products. The increasing demand for beef extract can be attributed to its strong peroxide-forming potential. In addition, beef extract contains high levels of myoglobin and haem, which helps in the formation of peroxide. In addition, it contains nutrients in a highly concentrated form, due to which is widely used in the food and feed industries to increase the nutritional condition of food and feed products. In the food industry, beef extract is used as a flavouring agent in several broths and beverages. It is also used in food products such as soups, sausages, sauces, meat dishes, casseroles and seasoning. In addition, it is used as a food additive and taste enhancer in processed food products.
The demand of beef extract is also flourishing due to its various certifications such as halal and kosher. Companies are offering halal and kosher-certified products for the Muslim and Jewish customers respectively, which is expected to boost the consumption of beef extract in Arabian and European countries. On the other hand, beef extract is extensively used in various enriched biological culture media, where it is fulfilling the demand for the growth of microorganisms in the media. In addition, beef extract also contains nitrogenous compounds that encourage the growth of microorganisms such as Clostridium tertium strains and thermoacidophilic organisms isolated from hot springs.
Global Beef extract: key players
Some of the key players operating in beef extract market are Proliant Inc.; Neogen Corporation; Colin Ingredients; Carnad Natural Taste; Bhagwati Chemicals; BD Biosciences; Ottogi Co, Ltd.; JBS Global; Merck KGaA and NH Foods Australia. An increasing number of food industry players are showing their keen interest in introducing beef extract into their product portfolio, which is also expected to increase the demand for the same during the forecast period.
Opportunities for market participants:-
The increasing usage of microorganisms in biological research and development is significantly boosting the consumption of beef extract in the microbiological culture media. Beef extract is also used in the feed industry to give the flavour and fragrance of beef to feed products, which can make them more tempting for animals. The increasing trend of consuming halal and kosher-certified products is expected to have a significant impact on the consumption of beef extract during the forecast period.
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Global Beef Extract: A Regional Outlook:-
Majority of the demand for beef extract comes from Latin America, North America and European countries. The increasing demand for beef extract in these regions can be attributed to various factors such as the increasing consumption of a protein-rich diet and growth in the health-conscious population. In addition, higher per-capita expenditure on healthy food products and the rising demand for halal & kosher-certified food products is also contributing to the growth of the market. In the Asia Pacific region, increasing urbanization and per capita income, as well as an increase in the number of research laboratories is expected to boost the demand for beef extract during the forecast period.