Global Liquid Smoke Market Projected to Hit $1,14,266.2 Thousand, Growing at 6.7% CAGR in the 2021-2028 Timeframe [170-Pages] | Details by Research Dive

The global liquid smoke market is expected to observe outstanding growth in the forecast period, 2021—2028. The growing preference for liquid smoke in various food items is boosting the growth of the market. The hickory type sub-segment and meat sub-segment are estimated to dominate the market. The Europe market is estimated to lead the global market.

New York, USA, Feb. 02, 2023 (GLOBE NEWSWIRE) — A new report on the global liquid smoke market has been added by Research Dive to its repository. According to the report, the global market is expected to hit $1,14,266.2 thousand by 2028, rising at a CAGR of 6.7% in the estimated period, 2021-2028. This all-inclusive report delivers a comprehensive overview of the current and future situation of the global market by stating its main characteristics including growth drivers, growth opportunities, restrictions, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market. 

Impact of the COVID-19 Pandemic on the Liquid Smoke Market 

The outbreak of the COVID-19 pandemic in 2020 negatively impacted the growth of the global liquid smoke market. During the pandemic period, the disruptions in the supply chains owing to lockdown restrictions greatly hampered the manufacturing of liquid smoke. Moreover, the closure of several restaurants and food businesses amidst the pandemic also reduced the demand for liquid smoke. All these factors greatly hindered the market growth during the pandemic crisis. 

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Factors Influencing the Liquid Smoke Market Growth 

The prime factor increasing the growth of the global liquid smoke market is the growing popularity of smoke-flavored food and barbeque sauces among people. In addition, rising innovations in packed food items such as the launch of different flavors, for example, smoke flavors in food products, are projected to unlock rewarding opportunities for the growth of the market in the estimated period. However, the possibility of side effects or allergies due to the use of liquid smoke in food is expected to hamper the market growth.  

The report segments the global liquid smoke market into type, application, and region.  

Hickory Type Sub-Segment to Observe Significant Growth  

The hickory type sub-segment of the type segment is foreseen to witness massive growth by surpassing $48,607.1 thousand in the estimated period. This is mostly because of the rising use of hickory-type liquid smoke in barbequed or grilled meats owing to its strong flavor and aroma.  

Meat Sub-Segment to Lead the Market  

The meat sub-segment of the application segment is predicted to perceive a maximum growth by exceeding $49,910.1 thousand in the estimated period. This is primarily owing to the growing preference for smoked-meat products among people across the globe. 

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Europe Region to Dominate the Market Growth 

The report examines the global liquid smoke market across numerous regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the Europe market is expected to perceive extraordinary growth and surpass $43,764.0 thousand in the estimated period. The growth of the regional market is mostly owing to the growing demand for smoked-food items, high disposable income of people, and existence of leading brands of liquid smoke in this region.  

Key Players of the Market 

The report lists some of the leading players functioning in the global liquid smoke market including  

  • Azelis SA. 
  • Red Arrow International 
  • Colgin 
  • Kerry Group 
  • MSK Ingredients Ltd. 
  • Besmoke Ltd. 
  • Baumer Foods 
  • Redbrook Ingredient Services Ltd. 
  • Ruitenberg Ingredients 
  • B&G Foods. 

The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. For instance, in August 2021, TMI Foods, a foremost provider of fully cooked crispy bacon in the UK, signed a licensing agreement with Besmoke, the producer of draft-smoked products, smoke and grill flavors, and taste-enhancement products, to offer clean and natural smoked crispy bacon. 

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More about Liquid Smoke Market: 

  • Why is Liquid Smoke Considered as the Preferable Choice of Enhancing the Taste of the Food Items compared to Traditional Smoke? 
  • Global Liquid Smoke Market’s Growth to Boost with the Rising Trend of Smoked Foods 
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