According to Future Market Insights, the global liquid smoke market size is forecast to increase from US$ 93 million in 2023 to US$ 245 million by 2033. Overall liquid smoke sales are forecast to surge at 11.7% CAGR between 2023 and 2033.
Rising demand for processed food products and increasing usage of liquid smoke for preparing a wide range of food products including barbecue sausage, seafood, and hot dogs are driving the industry forward.
In recent years, liquid smoke has gained immense traction across food service industry as a substitute for actual meat smoking. It is being increasingly used as a flavoring in various food products to make them appealing to consumers.
Usage of liquid smoke helps end users preserve food products as well as provide them with unique tastes. Rapid growth of food processing industry and increasing popularity of smoked food items will boost the global liquid smoke industry during the assessment period.
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The usefulness of the smoke solution is enhanced through the use of more complex food-grade processes such as extraction with oil, spray-drying, and plating onto food and food ingredients such as flour, yeast, and salt. Therefore, the growing processed food industry is expected to play a key role in boosting liquid smoke sales.
Similarly, growing awareness about the health and environmental benefits of liquid smoke is expected to boost sales in the market during the forecast period. Liquid smoke is eco-friendly as it does not release toxic pollutants into the environment.
Another factor that is expected to help the liquid smoke industry to thrive rapidly during the next ten years is the growing preference for barbeque sauces across the world.
Key Takeaways from the Report:
- Based on application, meat and seafood segment will continue to dominate the global liquid smoke market during the forecast period.
- By distribution channel, online stores segment will grow at a significant pace over the next ten years.
- The United Kingdom liquid smoke market size is projected to reach US$ 13.0 million by 2033.
- The USA liquid smoke market is expected to expand at a CAGR of 6.9 % during the projection period.
- Liquid smoke demand in Japan is poised to surge at 9.4% CAGR between 2023 and 2033.
Who is Winning?
Leading manufacturers of liquid smoke include Azelis Holdings S.A., B&G Foods, Inc., International Flavors & Fragrances, Inc., McCormick & Company, Inc., Kerry Group PLC, Colgin, Inc., MSK Ingredients Limited, PS Seasoning, Baumer Foods, Aminola, Sacchetto SpA, and Others