Meat Extract Market Share, Growth, Trend Analysis and Forecast from 2021 to 2028
Meat Extract Industry Overview The global meat extract market size was valued at USD 14.47 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.2% from 2021 to 2028. The market is anticipated to be driven by changing global diet trends, market developments, and R&D initiatives taken by major companies in the food sector leading to economic growth in the industry. Increasing consumption of a protein-rich diet and rising health consciousness is anticipated to drive the product demand over the next few years. In addition, the growing popularity of beef due to its various certifications, such as halal and kosher, will contribute to the market growth. According to the Organization for Economic Co-operation and Development (OECD), the total poultry and livestock production in the U.S. is expected to grow at a high rate with increased production of pork, beef, and broiler in 2019. The country also accounted for some of the highest expansions ...