DUBAI, UAE / ACCESSWIRE / April 23, 2020 / The global meat stabilizers blends market is on a positive growth trajectory, with growth projected to observe an impressive rate of 7.8% during the forecast period (2020-2030), according to a market study by Future Market Insights (FMI). Factors predominantly fueling the growth are growing awareness regarding stabilizing agents in improving the texture and smoothness of the finished goods, coupled with the expansion of the meat industry.
However, the market is passing through a turbulent period on the back of a perception among consumers that coronavirus spreads through meat. Moreover, North America – the leading regional market – being severely hit by the pandemic, is witnessing a change in consumer behavior.
“North America, Europe and Asia are witnessing more or less similar conditions during this global pandemic. The revenue of market could take a severe hit in the immediate future,” says the report.
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Animal & synthetic sources segment is expected to hold the lion’s share, owing to applications as emulsifiers, clarifiers, nutritional components, and color additives.
Fruits & vegetable ingredients segment is growing at a relatively higher rate than other sources, owing to rising adoption in end-use industries.
Food & beverage industry will contribute to substantial revenue opportunities on the back of growing demand for bakery products, meat, and snacks, among other food products that utilize stabilizer blends.
North America will remain the leading regional market, accounting for 1/3rd of overall market share, on the back of increased consumption of meat products such as hot dogs, bacon, and ham, coupled with high usage in beef and poultry industries in the region.
Europe is projected to witness a spike in sales due to the growing demand for processed meat in the region.
The Asia Pacific is projected to grow its market share at a higher rate compared to other regions on the back of large-scale production of meat products such as beef, pork, and poultry, coupled with booming food processing industries in countries such as India, Vietnam, and Pakistan.
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Increased consumption of processed food, multi-functionality of food stabilizers, and the growth in the use of natural ingredients on the back of consumer awareness about healthy diet are the factors giving a boost to the market growth. However, changing consumer preferences as a result of a pandemic is likely to hinder the demand.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.
Sources covered: Plant-based, seaweed, yeast, and animal-based.
Types covered: Gum, pectin, carrageenan, and gelatine
Functions covered: Colour stabilizer, flavor enhancer, pH stabilizer, emulsifier, moisture retention, and thickening agent
End-uses covered: Meat processing, food premixes, food service, and pet food
Regions covered: North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa
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SOURCE: Future Market Insights
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