Authored By: Sarah
11 Jul 2024

 Liquid Smoke Market Size to grow by USD 23.4 million between 2023-2027

According to a research report “ Liquid Smoke Market” by Distribution Channel (Offline, Online) Type (Hickory, Applewood, Mesquite, Others) Geography (Europe, North America, APAC, South America, Middle East and Africa)- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 23.4 million, at a CAGR of  5.68% during the forecast period. In the global market, organized retailers, including supermarkets, drugstores, convenience stores, hypermarkets, and specialty stores, are experiencing growth, driven by population expansion and increasing urbanization. Liquid smoke is predominantly distributed through these channels, with supermarkets and hypermarkets being the primary outlets. Notably, the UK, US, Italy, Poland, Portugal, Spain, Germany, Russia, Turkey, France, and Canada exhibit high penetration rates for hypermarkets and supermarkets. In India, the surge in urbanization and disposable income has led to a significant increase in the growth rate of supermarkets and hypermarkets, making it an emerging market for liquid smoke.

Browse market data tables, figures, and in-depth TOC on “Liquid Smoke Market” by Distribution Channel (Offline, Online) Type (Hickory, Applewood, Mesquite, Others) Geography (Europe, North America, APAC, South America, Middle East and Africa) Global Forecast to 2027. Download Free Sample

 

By Distribution Channel, the Offline segment is projected to dominate the market size in 2024

The hickory segment dominates the global liquid smoke market, generating significant revenue due to the high demand for hickory liquid smoke in the food industry. This concentrated form of hickory smoke flavor is produced by condensing hickory smoke in a controlled environment and diluting it with water. The robust and distinct smoky flavor of hickory smoke adds depth and complexity to various food products, particularly meat items such as ham, bacon, and sausages, as well as dips, marinades, and sauces. The food industry's reliance on hickory liquid smoke for enhancing the taste and aroma of their offerings has fueled its market growth.

By Type, Hickory  segment is expected to hold the largest market size for the year 2024

In the traditional distribution channel, revenue is derived from the sale of liquid smoke products through hypermarkets, supermarkets, clubhouse stores, department stores, and independent retailers. However, due to the increasing trend towards online shopping, sales in this sector have witnessed a decline. In response, vendors are broadening their market reach in local and regional markets. Retailers, in turn, are implementing innovative business strategies, such as competitive pricing and expansive product offerings, to remain competitive and cater to evolving consumer preferences.

Europe is forecasted to hold the largest market size by region in 2024

The European liquid smoke market is experiencing significant growth due to the increasing demand for processed fish products, driven by rising imports and exports. With Europe achieving self-sufficiency in fish and seafood production since 2009, the consumption of liquid smoke has increased. Major European markets, including the UK, France, Germany, Italy, and Spain, lead in liquid smoke consumption. Smoked fish is the most preferred category, with smoked mackerel and trout following closely. The health-conscious consumer trend in Europe is fueling the demand for liquid smoke as a natural flavoring agent in food processing.

The Liquid Smoke Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Azelis SA
  • B and G Foods Inc.
  • Baumer Foods Inc.
  • Besmoke Ltd.
  • Colgin Inc.
  • Istore Direct Trading Pvt. Ltd.
  • Kerry Group Plc
  • MSK Ingredients Ltd.
  • Ruitenberg Ingredients B.V.
  • Superb Formulations Pvt Ltd
  • United Group of Food Consultants
.

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Research Analysis Overview

The Liquid Smoke market has seen significant growth in recent years, particularly in the food industry. This flavoring agent, derived from natural wood smoke, has a positive impact on various food products, including Cheese, Hot dogs, Seafood, and Barbecue sauces. For Catering services, Hotels, and Restaurants, Liquid Smoke provides an excellent solution for enhancing the palatability of dishes, especially when Grilling or Roasting Meat. At home, Liquid Smoke is a functional ingredient for Home cooking, adding depth and richness to Dining out experiences. The Health benefits of Liquid Smoke are an added bonus, as it extends the Shelf life of food products without the need for preservatives. The market's growth can be attributed to its ability to provide a smoky flavor without the need for actual smoking, which is both time-consuming and expensive. With increasing purchasing power and the desire for authentic, flavorful food, the demand for Liquid Smoke is expected to continue to grow.

Market Research Overview

The Liquid Smoke Market encompasses a wide range of food ingredients used in dairy, meat and seafood products to impart smoky flavors. Lack of awareness about its benefits, however, remains a challenge. Liquid smoke is derived from natural sources like wood and can be used as a substitute for salt, malt flour, and yeast in various food applications. It is obtained through oil extraction or the creation of aqueous smoke solutions. Cheese, catering services, hotels, and restaurants in the Foodservice industry use liquid smoke for its unique flavors and impact on palatability. Consumers, whether dining out or practicing home cooking, increasingly prefer value-for-money products with sustainable practices. Liquid smoke solutions have become popular in barbecue flavored foods, including hot dogs, seafood, and barbecue sauces. Manufacturers like Colgin and Red Arrow International have expanded their product offerings, catering to various lifestyles and consumer preferences. Process innovations have led to the creation of smoke flavors from applewood, mesquite, hickory, and even pecan. Liquid smoke is also used as a functional ingredient in pet foods, dairy products, and meat products. E-commerce and convenience stores have made liquid smoke easily accessible, while recipes and aroma add to its appeal. The market's growth is driven by the increasing spending power and consumer preferences for high-quality, tangy Memphis-style BBQ sauces, gourmet grilling sauces, marinades, and seasonings. Liquid smoke's antioxidant properties and health benefits further enhance its value.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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